UBS Group Has Lowered Expectations for Broadstone Net Lease (NYSE:BNL) Stock Price

Broadstone Net Lease (NYSE:BNL) had its price target decreased by equities research analysts at UBS Group from $17.00 to $16.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. UBS Group’s target price suggests a potential upside of 1.46% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the company. JMP Securities reiterated a “market outperform” rating and issued a $21.00 price target on shares of Broadstone Net Lease in a report on Monday, June 2nd. BMO Capital Markets set a $20.00 price target on Broadstone Net Lease and gave the company an “outperform” rating in a report on Monday, March 24th. Finally, Truist Financial raised their price target on Broadstone Net Lease from $17.00 to $18.00 and gave the company a “hold” rating in a report on Monday, May 5th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Broadstone Net Lease has an average rating of “Moderate Buy” and a consensus price target of $18.50.

Broadstone Net Lease Stock Performance

Shares of NYSE:BNL opened at $15.77 on Wednesday. Broadstone Net Lease has a twelve month low of $13.96 and a twelve month high of $19.15. The firm has a market cap of $2.98 billion, a PE ratio of 25.85 and a beta of 1.00. The business has a fifty day moving average of $16.05 and a 200-day moving average of $16.07.

Hedge Funds Weigh In On Broadstone Net Lease

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BNL. Raymond James Financial Inc. bought a new position in Broadstone Net Lease during the fourth quarter worth about $4,791,000. PNC Financial Services Group Inc. boosted its holdings in Broadstone Net Lease by 58.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 10,842 shares of the company’s stock worth $172,000 after buying an additional 4,017 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in Broadstone Net Lease by 139.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 2,735 shares of the company’s stock worth $43,000 after buying an additional 1,592 shares during the last quarter. Swiss National Bank boosted its holdings in Broadstone Net Lease by 0.5% during the fourth quarter. Swiss National Bank now owns 370,800 shares of the company’s stock worth $5,881,000 after buying an additional 1,700 shares during the last quarter. Finally, Commonwealth Equity Services LLC lifted its holdings in shares of Broadstone Net Lease by 1.7% during the 4th quarter. Commonwealth Equity Services LLC now owns 99,275 shares of the company’s stock valued at $1,575,000 after purchasing an additional 1,665 shares in the last quarter. Institutional investors own 89.07% of the company’s stock.

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.