Cantor Fitzgerald Initiates Coverage on Broadstone Net Lease (NYSE:BNL)

Analysts at Cantor Fitzgerald assumed coverage on shares of Broadstone Net Lease (NYSE:BNL) in a research note issued on Wednesday, MarketBeat.com reports. The brokerage set an “overweight” rating and a $21.00 price target on the stock. Cantor Fitzgerald’s price objective would indicate a potential upside of 14.22% from the company’s previous close.

A number of other research firms have also weighed in on BNL. Wolfe Research raised Broadstone Net Lease from a “peer perform” rating to an “outperform” rating and set a $19.00 target price on the stock in a report on Monday, July 28th. Wall Street Zen lowered Broadstone Net Lease from a “hold” rating to a “sell” rating in a report on Friday, August 22nd. JMP Securities reaffirmed a “market outperform” rating and issued a $21.00 price objective on shares of Broadstone Net Lease in a report on Monday. The Goldman Sachs Group raised Broadstone Net Lease from a “sell” rating to a “buy” rating and set a $21.00 price objective on the stock in a report on Thursday, August 21st. Finally, UBS Group upped their price objective on Broadstone Net Lease from $16.00 to $17.00 and gave the company a “neutral” rating in a report on Friday, August 15th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $19.89.

Broadstone Net Lease Trading Up 0.2%

BNL stock opened at $18.39 on Wednesday. The firm has a market capitalization of $3.48 billion, a PE ratio of 35.36 and a beta of 1.00. Broadstone Net Lease has a 1-year low of $13.96 and a 1-year high of $18.85. The business’s 50 day simple moving average is $17.69 and its 200 day simple moving average is $16.65.

Institutional Trading of Broadstone Net Lease

A number of institutional investors have recently modified their holdings of the stock. Corient Private Wealth LLC bought a new stake in shares of Broadstone Net Lease during the 2nd quarter valued at $672,000. Orion Porfolio Solutions LLC bought a new stake in shares of Broadstone Net Lease during the 2nd quarter valued at $368,000. Thrivent Financial for Lutherans lifted its position in shares of Broadstone Net Lease by 3.1% during the 2nd quarter. Thrivent Financial for Lutherans now owns 574,710 shares of the company’s stock valued at $9,224,000 after acquiring an additional 17,379 shares during the period. Kestra Investment Management LLC lifted its position in shares of Broadstone Net Lease by 25.0% during the 2nd quarter. Kestra Investment Management LLC now owns 91,714 shares of the company’s stock valued at $1,472,000 after acquiring an additional 18,359 shares during the period. Finally, CANADA LIFE ASSURANCE Co lifted its position in shares of Broadstone Net Lease by 9.1% during the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 298,676 shares of the company’s stock valued at $4,792,000 after acquiring an additional 24,851 shares during the period. 89.07% of the stock is currently owned by institutional investors.

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.