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Cohen & Steers Inc. dumps Broadstone Net Lease, Inc.

Stock MarketsApr 12, 2021 09:30AM ET
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© Reuters. Cohen & Steers Inc. dumps Broadstone Net Lease, Inc.

On the 31st of March, Cohen & Steers (NYSE:CNS) Inc. sold all their 7.5 million Broadstone Net Lease, Inc. (BNL) shares for $138 million at an average price of $18.30 per share. Shares of Broadstone Net Lease, Inc. are up 2.90% since the transaction.

Cohen & Steers Inc. 's holding in Broadstone Net Lease, Inc. were completely closed with the transaction.

Cohen & Steers Inc. first bought Broadstone Net Lease, Inc. stock in the third quarter of 2020. Cohen & Steers Inc. also owns Simon Property Group Inc (NYSE:SPG), Public Storage (NYSE:PSA), Healthpeak Properties Inc (NYSE:PEAK) and Duke Realty Corp (NYSE:DRE). Broadstone Net Lease, Inc. was its pre-sell number twenty three position by number of shares and market value among real estate investment trusts stocks.

Contrary to Cohen & Steers Inc., Centersquare Investment Management added to BNL shares, while California State Teachers Retirement System and Citigroup (NYSE:C) introduced BNL shares to their portfolio.

Cohen & Steers Inc. has also recently sold all their shares in Apartment Investment and Management Co (AIV). This asset alone constituted 1.3% of their pre-sale portfolio. Cohen & Steers Inc. also reduced their share in Essex Property Trust Inc (NYSE:ESS), SITE Centers Corp (NYSE:SITC), Welltower Inc (WELL), Medical Properties Trust Inc (NYSE:MPW), Public Storage, Agree Realty Corp (NYSE:ADC), Columbia Property Trust Inc (NYSE:CXP), Kilroy Realty Corp (NYSE:KRC) and UDR Inc (UDR). The total value of the shares sold is estimated at around $6.4 billion.

In addition, Cohen & Steers Inc. added to their share in Simon Property Group Inc, Healthpeak Properties Inc, Host Hotels & Resorts Inc (NASDAQ:HST), Regency Centers Corp (NASDAQ:REG), Sun Communities Inc (NYSE:SUI), Extra Space Storage Inc (NYSE:EXR), Ventas Inc (NYSE:VTR) and Spirit Realty Capital Inc (NYSE:SRC). The total value of the shares bought is estimated at around $2.3 billion.

Cohen & Steers Inc. also reduced their share in Hudson Pacific Properties Inc (NYSE:HPP), Red Rock Resorts Inc (NASDAQ:RRR) and VICI Properties Inc (NYSE:VICI). The total value of the shares sold is estimated at around $72 million.

In addition, Cohen & Steers Inc. added to their share in Boyd Gaming (NYSE:BYD), Jones Lang Lasalle Inc (NYSE:JLL), Sabra Health Care REIT Inc (NYSE:WELL) (SBRA), Healthcare Trust of America Inc (HTA), CyrusOne Inc (NASDAQ:CONE), Invitation Homes Inc (NYSE:INVH) and Americold Realty Trust (NYSE:COLD). The total value of the shares bought is estimated at around $1.6 billion.

Cohen & Steers Inc. dumps Broadstone Net Lease, Inc.
 

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