UBS Group Raises Broadstone Net Lease (NYSE:BNL) Price Target to $17.00

Broadstone Net Lease (NYSE:BNL) had its price objective upped by stock analysts at UBS Group from $16.00 to $17.00 in a report released on Friday,Benzinga reports. The firm currently has a “neutral” rating on the stock. UBS Group’s price target would indicate a potential upside of 1.49% from the stock’s previous close.

BNL has been the subject of several other reports. Truist Financial upped their price objective on Broadstone Net Lease from $17.00 to $18.00 and gave the company a “hold” rating in a research note on Monday, May 5th. Wolfe Research raised shares of Broadstone Net Lease from a “peer perform” rating to an “outperform” rating and set a $19.00 price target for the company in a report on Monday, July 28th. Wall Street Zen upgraded Broadstone Net Lease from a “sell” rating to a “hold” rating in a research note on Sunday, August 3rd. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $21.00 price target on shares of Broadstone Net Lease in a research note on Monday, June 2nd. One analyst has rated the stock with a sell rating, three have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $18.71.

Broadstone Net Lease Stock Performance

Shares of Broadstone Net Lease stock opened at $16.75 on Friday. The company has a market capitalization of $3.17 billion, a P/E ratio of 32.21 and a beta of 1.00. Broadstone Net Lease has a 1 year low of $13.96 and a 1 year high of $19.15. The company’s fifty day moving average is $16.23 and its two-hundred day moving average is $16.16.

Hedge Funds Weigh In On Broadstone Net Lease

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Wells Fargo & Company MN grew its position in shares of Broadstone Net Lease by 10.4% in the fourth quarter. Wells Fargo & Company MN now owns 220,889 shares of the company’s stock valued at $3,503,000 after purchasing an additional 20,814 shares during the last quarter. Envestnet Asset Management Inc. grew its holdings in Broadstone Net Lease by 654.8% during the 4th quarter. Envestnet Asset Management Inc. now owns 451,078 shares of the company’s stock valued at $7,154,000 after buying an additional 391,320 shares during the last quarter. Federated Hermes Inc. increased its position in Broadstone Net Lease by 73,833.3% during the fourth quarter. Federated Hermes Inc. now owns 2,218 shares of the company’s stock worth $35,000 after buying an additional 2,215 shares in the last quarter. Cerity Partners LLC increased its position in Broadstone Net Lease by 103.3% during the fourth quarter. Cerity Partners LLC now owns 82,297 shares of the company’s stock worth $1,309,000 after buying an additional 41,817 shares in the last quarter. Finally, Invesco Ltd. raised its holdings in shares of Broadstone Net Lease by 7.1% in the fourth quarter. Invesco Ltd. now owns 1,035,938 shares of the company’s stock worth $16,430,000 after acquiring an additional 69,041 shares during the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

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.