Broadstone Net Lease, Inc. (NYSE:BNL) Receives Average Recommendation of “Moderate Buy” from Brokerages

Broadstone Net Lease, Inc. (NYSE:BNL) has been assigned an average recommendation of “Moderate Buy” from the twelve research firms that are covering the company, MarketBeat reports. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $19.9091.

Several research firms have commented on BNL. Morgan Stanley increased their price objective on shares of Broadstone Net Lease from $18.00 to $19.00 and gave the company a “positive” rating in a research note on Monday, December 29th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Broadstone Net Lease in a report on Wednesday, January 21st. BMO Capital Markets reiterated an “outperform” rating on shares of Broadstone Net Lease in a report on Thursday, December 4th. Citizens Jmp reissued a “market outperform” rating and issued a $21.00 price objective on shares of Broadstone Net Lease in a research report on Tuesday, December 2nd. Finally, Wall Street Zen upgraded Broadstone Net Lease from a “sell” rating to a “hold” rating in a research note on Saturday, January 17th.

Broadstone Net Lease Trading Up 1.5%

Shares of NYSE:BNL opened at $19.65 on Friday. The stock’s fifty day simple moving average is $18.16 and its two-hundred day simple moving average is $18.03. Broadstone Net Lease has a 1-year low of $13.96 and a 1-year high of $19.77. The stock has a market cap of $3.72 billion, a PE ratio of 41.80 and a beta of 1.00.

Institutional Investors Weigh In On Broadstone Net Lease

Several large investors have recently modified their holdings of BNL. Royal Bank of Canada increased its stake in shares of Broadstone Net Lease by 69.9% in the first quarter. Royal Bank of Canada now owns 91,943 shares of the company’s stock worth $1,566,000 after purchasing an additional 37,830 shares in the last quarter. AQR Capital Management LLC boosted its holdings in Broadstone Net Lease by 52.8% in the 1st quarter. AQR Capital Management LLC now owns 25,599 shares of the company’s stock worth $436,000 after buying an additional 8,848 shares during the period. Millennium Management LLC grew its stake in Broadstone Net Lease by 2.3% in the 1st quarter. Millennium Management LLC now owns 1,147,372 shares of the company’s stock valued at $19,551,000 after buying an additional 25,944 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Broadstone Net Lease by 5.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,283,889 shares of the company’s stock valued at $21,877,000 after buying an additional 70,534 shares in the last quarter. Finally, Jane Street Group LLC raised its holdings in Broadstone Net Lease by 292.3% during the 1st quarter. Jane Street Group LLC now owns 553,738 shares of the company’s stock valued at $9,436,000 after acquiring an additional 412,604 shares during the period. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Broadstone Net Lease Company Profile

Broadstone Net Lease, Inc (NYSE: BNL) is a publicly traded real estate investment trust focused on owning and operating single-tenant commercial properties under long-term net leases. The company specializes in acquiring properties that are leased to creditworthy tenants, allowing it to generate predictable, stable rental income while transferring most operating expenses and responsibilities to its lessees.

Broadstone Net Lease’s portfolio spans a variety of property types, including industrial facilities, distribution centers, manufacturing plants, life science and office buildings, and essential retail locations.