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

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

Other research analysts have also recently issued reports about the stock. The Goldman Sachs Group upgraded shares of Broadstone Net Lease from a “sell” rating to a “buy” rating and set a $21.00 price target on the stock in a report on Thursday, August 21st. Wolfe Research upgraded Broadstone Net Lease from a “peer perform” rating to an “outperform” rating and set a $19.00 target price on the stock in a research note on Monday, July 28th. 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 report on Tuesday, August 19th. UBS Group lifted their price target on Broadstone Net Lease from $16.00 to $17.00 and gave the stock a “neutral” rating in a report on Friday, August 15th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Broadstone Net Lease in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $19.89.

Broadstone Net Lease Stock Up 1.9%

Shares of NYSE:BNL opened at $18.13 on Friday. The business’s 50 day moving average is $18.38 and its 200 day moving average is $17.04. Broadstone Net Lease has a 12-month low of $13.96 and a 12-month high of $18.87. The stock has a market cap of $3.43 billion, a price-to-earnings ratio of 38.56 and a beta of 1.00.

Broadstone Net Lease (NYSE:BNL) last issued its quarterly earnings data on Wednesday, October 29th. The company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.23). The company had revenue of $114.17 million for the quarter, compared to the consensus estimate of $111.89 million. Broadstone Net Lease had a net margin of 20.04% and a return on equity of 2.91%. 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 Investors Weigh In On Broadstone Net Lease

Institutional investors have recently added to or reduced their stakes in the business. Jane Street Group LLC grew its stake in Broadstone Net Lease by 292.3% in the 1st quarter. Jane Street Group LLC now owns 553,738 shares of the company’s stock valued at $9,436,000 after buying an additional 412,604 shares in the last quarter. LPL Financial LLC boosted its holdings in shares of Broadstone Net Lease by 17.1% in the first quarter. LPL Financial LLC now owns 131,654 shares of the company’s stock worth $2,243,000 after acquiring an additional 19,190 shares during the period. Envestnet Asset Management Inc. grew its position in shares of Broadstone Net Lease by 20.6% in the first quarter. Envestnet Asset Management Inc. now owns 543,987 shares of the company’s stock valued at $9,270,000 after purchasing an additional 92,909 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Broadstone Net Lease by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 27,711,994 shares of the company’s stock worth $472,212,000 after purchasing an additional 266,900 shares in the last quarter. Finally, MQS Management LLC increased its position in shares of Broadstone Net Lease by 394.9% during the first quarter. MQS Management LLC now owns 57,185 shares of the company’s stock valued at $974,000 after buying an additional 45,631 shares during the period. 89.07% of the stock is owned by hedge funds and other institutional investors.

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.