Armor Investment Advisors LLC Has $723,000 Position in Broadstone Net Lease, Inc. (NYSE:BNL)

Armor Investment Advisors LLC cut its stake in Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) by 31.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 45,573 shares of the company's stock after selling 21,069 shares during the quarter. Armor Investment Advisors LLC's holdings in Broadstone Net Lease were worth $723,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Sanctuary Advisors LLC bought a new stake in shares of Broadstone Net Lease in the second quarter worth about $614,000. SG Americas Securities LLC acquired a new position in shares of Broadstone Net Lease in the 3rd quarter valued at approximately $449,000. GAMMA Investing LLC increased its stake in Broadstone Net Lease by 257.5% during the 3rd quarter. GAMMA Investing LLC now owns 1,766 shares of the company's stock worth $33,000 after purchasing an additional 1,272 shares in the last quarter. Ritholtz Wealth Management raised its holdings in Broadstone Net Lease by 6.5% during the 3rd quarter. Ritholtz Wealth Management now owns 25,766 shares of the company's stock worth $488,000 after buying an additional 1,580 shares during the period. Finally, AlphaMark Advisors LLC acquired a new stake in Broadstone Net Lease during the 3rd quarter worth approximately $354,000. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

BNL has been the subject of several research reports. UBS Group began coverage on shares of Broadstone Net Lease in a research report on Thursday, November 14th. They set a "neutral" rating and a $18.00 price objective for the company. Citizens Jmp upgraded Broadstone Net Lease from a "hold" rating to a "strong-buy" rating in a report on Tuesday, December 17th. Finally, JMP Securities upgraded Broadstone Net Lease from a "market perform" rating to an "outperform" rating and set a $21.00 price target on the stock in a report on Tuesday, December 17th. One research analyst has rated the stock with a sell rating, four have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Broadstone Net Lease presently has an average rating of "Hold" and a consensus price target of $18.60.

Broadstone Net Lease Price Performance

NYSE:BNL traded down $0.30 on Friday, hitting $15.33. 1,108,946 shares of the company's stock were exchanged, compared to its average volume of 1,042,991. The firm has a 50-day moving average price of $15.93 and a 200-day moving average price of $17.22. Broadstone Net Lease, Inc. has a 52 week low of $14.20 and a 52 week high of $19.15. The company has a market cap of $2.89 billion, a P/E ratio of 20.16 and a beta of 1.11.

About Broadstone Net Lease

Broadstone Net Lease, Inc (the Corporation) is a Maryland corporation formed on October 18, 2007, that elected to be taxed as a real estate investment trust (REIT) commencing with the taxable year ended December 31, 2008. Broadstone Net Lease, LLC (the Corporation's operating company, or the OP), is the entity through which the Corporation conducts its business and owns (either directly or through subsidiaries) all of the Corporation's properties.