Broadstone Net Lease (NYSE:BNL) Raised to “Hold” at Wall Street Zen

Broadstone Net Lease (NYSE:BNL) was upgraded by Wall Street Zen from a “sell” rating to a “hold” rating in a note issued to investors on Saturday.

A number of other analysts also recently commented on BNL. Cantor Fitzgerald initiated coverage on Broadstone Net Lease in a research report on Wednesday, October 1st. They issued an “overweight” rating and a $21.00 price objective for the company. KeyCorp raised Broadstone Net Lease from a “sector weight” rating to an “overweight” rating and set a $20.00 target price for the company in a research report on Tuesday, August 19th. Wolfe Research raised shares of Broadstone Net Lease from a “peer perform” rating to an “outperform” rating and set a $19.00 price target on the stock in a report on Monday, July 28th. JMP Securities reaffirmed a “market outperform” rating and set a $21.00 price objective on shares of Broadstone Net Lease in a report on Monday, September 29th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Broadstone Net Lease in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $19.89.

Broadstone Net Lease Trading Up 1.9%

NYSE:BNL traded up $0.35 during mid-day trading on Friday, hitting $18.13. 1,226,884 shares of the company’s stock traded hands, compared to its average volume of 1,519,494. The firm has a market capitalization of $3.43 billion, a price-to-earnings ratio of 38.56 and a beta of 1.00. The firm has a 50 day moving average of $18.38 and a two-hundred day moving average of $17.03. Broadstone Net Lease has a 12 month low of $13.96 and a 12 month high of $18.87.

Broadstone Net Lease (NYSE:BNL) last announced its quarterly earnings data on Wednesday, October 29th. The company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.23). The company had revenue of $114.17 million during the quarter, compared to analyst estimates of $111.89 million. Broadstone Net Lease had a return on equity of 2.91% and a net margin of 20.04%. Broadstone Net Lease has set its FY 2025 guidance at 1.490-1.500 EPS. As a group, equities research analysts expect that Broadstone Net Lease will post 1.43 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in BNL. Blue Trust Inc. grew its position in shares of Broadstone Net Lease by 96.9% during the 3rd quarter. Blue Trust Inc. now owns 1,790 shares of the company’s stock worth $32,000 after buying an additional 881 shares during the period. Wolff Wiese Magana LLC bought a new stake in shares of Broadstone Net Lease during the 2nd quarter valued at $45,000. EverSource Wealth Advisors LLC boosted its position in shares of Broadstone Net Lease by 80.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,261 shares of the company’s stock worth $68,000 after purchasing an additional 1,906 shares during the last quarter. Covestor Ltd grew its stake in shares of Broadstone Net Lease by 15.2% during the third quarter. Covestor Ltd now owns 5,928 shares of the company’s stock worth $106,000 after purchasing an additional 781 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new position in Broadstone Net Lease in the first quarter valued at about $115,000. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Broadstone Net Lease Company 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.