Legato Capital Management LLC Has $580,000 Stock Holdings in Broadstone Net Lease, Inc. (NYSE:BNL)

Legato Capital Management LLC cut its position in Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) by 57.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 36,585 shares of the company's stock after selling 49,088 shares during the quarter. Legato Capital Management LLC's holdings in Broadstone Net Lease were worth $580,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Geode Capital Management LLC boosted its stake in Broadstone Net Lease by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 4,844,943 shares of the company's stock valued at $91,827,000 after purchasing an additional 62,515 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Broadstone Net Lease by 4.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,834,413 shares of the company's stock valued at $34,762,000 after acquiring an additional 84,509 shares during the period. Victory Capital Management Inc. lifted its position in shares of Broadstone Net Lease by 35.5% during the 3rd quarter. Victory Capital Management Inc. now owns 1,454,507 shares of the company's stock valued at $27,563,000 after acquiring an additional 380,772 shares during the period. Brookfield Corp ON bought a new stake in shares of Broadstone Net Lease during the 3rd quarter valued at $18,444,000. Finally, Sage Advisors LLC lifted its position in shares of Broadstone Net Lease by 2.7% during the 3rd quarter. Sage Advisors LLC now owns 932,736 shares of the company's stock valued at $17,675,000 after acquiring an additional 24,670 shares during the period. 89.07% of the stock is currently owned by institutional investors.

Broadstone Net Lease Stock Performance

Shares of Broadstone Net Lease stock traded up $0.11 during trading on Tuesday, reaching $15.46. 283,211 shares of the company's stock were exchanged, compared to its average volume of 1,017,836. Broadstone Net Lease, Inc. has a 1-year low of $14.20 and a 1-year high of $19.15. The firm's 50-day moving average price is $15.89 and its 200 day moving average price is $17.20. The company has a market cap of $2.91 billion, a P/E ratio of 20.31 and a beta of 1.11.

Wall Street Analysts Forecast Growth

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

Broadstone Net Lease Profile

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.