Sumitomo Mitsui Trust Group Inc. Has $3.28 Million Position in Broadstone Net Lease, Inc. (NYSE:BNL)

Sumitomo Mitsui Trust Group Inc. trimmed its stake in Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) by 80.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 206,866 shares of the company's stock after selling 850,794 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.11% of Broadstone Net Lease worth $3,281,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in BNL. GAMMA Investing LLC increased its holdings in Broadstone Net Lease by 257.5% during the third quarter. GAMMA Investing LLC now owns 1,766 shares of the company's stock worth $33,000 after buying an additional 1,272 shares during the last quarter. Blue Trust Inc. grew its position in shares of Broadstone Net Lease by 156.5% in the 3rd quarter. Blue Trust Inc. now owns 3,902 shares of the company's stock valued at $74,000 after acquiring an additional 2,381 shares during the period. US Bancorp DE increased its stake in shares of Broadstone Net Lease by 636.6% during the 3rd quarter. US Bancorp DE now owns 3,941 shares of the company's stock worth $75,000 after purchasing an additional 3,406 shares during the last quarter. KBC Group NV raised its holdings in shares of Broadstone Net Lease by 29.4% in the 3rd quarter. KBC Group NV now owns 6,220 shares of the company's stock valued at $118,000 after purchasing an additional 1,413 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in Broadstone Net Lease by 35.3% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,314 shares of the company's stock valued at $138,000 after purchasing an additional 1,908 shares during the last quarter. Institutional investors and hedge funds own 89.07% of the company's stock.

Broadstone Net Lease Stock Performance

Shares of BNL stock traded down $0.30 during midday trading on Monday, hitting $15.33. 1,108,946 shares of the company were exchanged, compared to its average volume of 996,945. The firm has a market capitalization of $2.89 billion, a P/E ratio of 20.16 and a beta of 1.11. The firm's 50 day moving average price is $15.89 and its two-hundred day moving average price is $17.20. Broadstone Net Lease, Inc. has a 52 week low of $14.20 and a 52 week high of $19.15.

Analyst Ratings Changes

Several analysts have issued reports on BNL shares. Citizens Jmp upgraded Broadstone Net Lease from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, December 17th. 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 research note on Tuesday, December 17th. Finally, 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. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $18.60.

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.