Broadstone Net Lease (NYSE:BNL) Downgraded by Citizens Jmp to Market Perform

Broadstone Net Lease (NYSE:BNL) was downgraded by Citizens Jmp from an “outperform” rating to a “market perform” rating in a note issued to investors on Friday, Marketbeat reports.

A number of other equities research analysts also recently weighed in on the stock. Truist Financial set a $22.00 price objective on shares of Broadstone Net Lease in a research report on Monday. Weiss Ratings raised shares of Broadstone Net Lease from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, May 4th. UBS Group lifted their target price on Broadstone Net Lease from $19.00 to $20.00 and gave the company a “neutral” rating in a research note on Monday, March 9th. Citigroup lowered Broadstone Net Lease from a “market perform” rating to a “market perform” rating in a report on Friday. Finally, Cantor Fitzgerald increased their price target on Broadstone Net Lease from $21.00 to $22.00 and gave the stock an “overweight” rating in a research report on Monday, May 4th. Eight equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $20.56.

Broadstone Net Lease Trading Down 0.7%

Shares of NYSE BNL opened at $20.93 on Friday. The company has a market capitalization of $4.01 billion, a price-to-earnings ratio of 32.21 and a beta of 0.95. Broadstone Net Lease has a twelve month low of $15.66 and a twelve month high of $21.50. The business has a 50 day simple moving average of $20.00 and a 200-day simple moving average of $18.98.

Broadstone Net Lease (NYSE:BNL) last announced its quarterly earnings data on Wednesday, April 29th. The company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.06. Broadstone Net Lease had a return on equity of 4.17% and a net margin of 27.01%.The firm had revenue of $121.40 million for the quarter, compared to analysts’ expectations of $118.84 million. Broadstone Net Lease has set its FY 2026 guidance at 1.530-1.570 EPS. As a group, equities analysts predict that Broadstone Net Lease will post 1.52 earnings per share for the current year.

Institutional Trading of Broadstone Net Lease

Institutional investors have recently made changes to their positions in the stock. Bank of America Corp DE increased its stake in shares of Broadstone Net Lease by 8.7% during the first quarter. Bank of America Corp DE now owns 2,231,816 shares of the company’s stock valued at $40,775,000 after acquiring an additional 178,546 shares during the period. Anson Funds Management LP lifted its position in Broadstone Net Lease by 50.0% in the first quarter. Anson Funds Management LP now owns 120,000 shares of the company’s stock worth $2,192,000 after purchasing an additional 40,000 shares during the period. Amundi lifted its position in Broadstone Net Lease by 4.3% in the first quarter. Amundi now owns 89,997 shares of the company’s stock worth $1,644,000 after purchasing an additional 3,682 shares during the period. EverSource Wealth Advisors LLC boosted its stake in Broadstone Net Lease by 33.8% during the 1st quarter. EverSource Wealth Advisors LLC now owns 7,075 shares of the company’s stock valued at $129,000 after purchasing an additional 1,788 shares in the last quarter. Finally, California State Teachers Retirement System boosted its stake in Broadstone Net Lease by 30.2% during the 1st quarter. California State Teachers Retirement System now owns 236,627 shares of the company’s stock valued at $4,323,000 after purchasing an additional 54,892 shares in the last quarter. 89.07% of the stock is owned by institutional investors and hedge funds.

About Broadstone Net Lease

Broadstone Net Lease, Inc (NYSE: BNL) is a publicly traded real estate investment trust focused on owning and operating single-tenant commercial properties under long-term net leases. The company specializes in acquiring properties that are leased to creditworthy tenants, allowing it to generate predictable, stable rental income while transferring most operating expenses and responsibilities to its lessees.

Broadstone Net Lease’s portfolio spans a variety of property types, including industrial facilities, distribution centers, manufacturing plants, life science and office buildings, and essential retail locations.