Tritonpoint Wealth LLC Trims Holdings in Broadstone Net Lease, Inc. (NYSE:BNL)

Tritonpoint Wealth LLC trimmed its stake in shares of Broadstone Net Lease, Inc. (NYSE:BNL - Free Report) by 3.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,015,121 shares of the company's stock after selling 31,149 shares during the quarter. Broadstone Net Lease makes up 1.5% of Tritonpoint Wealth LLC's portfolio, making the stock its 13th biggest position. Tritonpoint Wealth LLC owned 0.54% of Broadstone Net Lease worth $16,394,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of BNL. Natixis Advisors LLC lifted its position in shares of Broadstone Net Lease by 63.2% in the third quarter. Natixis Advisors LLC now owns 114,272 shares of the company's stock worth $2,165,000 after purchasing an additional 44,264 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in shares of Broadstone Net Lease by 30.4% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 466,782 shares of the company's stock valued at $7,403,000 after buying an additional 108,907 shares during the period. Meritage Portfolio Management bought a new position in Broadstone Net Lease during the third quarter worth about $5,610,000. Intech Investment Management LLC bought a new position in shares of Broadstone Net Lease during the third quarter worth about $633,000. Finally, Stifel Financial Corp boosted its position in Broadstone Net Lease by 6.5% during the third quarter. Stifel Financial Corp now owns 15,470 shares of the company's stock valued at $293,000 after purchasing an additional 939 shares during the last quarter. 89.07% of the stock is owned by institutional investors.

Broadstone Net Lease Price Performance

Shares of NYSE BNL traded up $0.12 during midday trading on Wednesday, reaching $15.71. 271,886 shares of the stock traded hands, compared to its average volume of 1,000,911. Broadstone Net Lease, Inc. has a one year low of $14.20 and a one year high of $19.15. The stock has a market capitalization of $2.96 billion, a PE ratio of 20.69 and a beta of 1.11. The company's 50 day moving average is $16.22 and its 200 day moving average is $17.34.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on BNL shares. Citizens Jmp raised shares of Broadstone Net Lease from a "hold" rating to a "strong-buy" rating in a report on Tuesday, December 17th. JMP Securities raised 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 assumed coverage on shares of Broadstone Net Lease in a research report on Thursday, November 14th. They set a "neutral" rating and a $18.00 target price on the stock. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price 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.