Broadstone Net Lease, Inc. (NYSE:BNL) Stock Has Consensus Target Price of $22.67

Broadstone Net Lease, Inc. (NYSE:BNL) has received an average rating of “Moderate Buy” from the eleven brokerages that are presently covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $22.67.

Several research firms have recently weighed in on BNL. Weiss Ratings downgraded Broadstone Net Lease from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, October 8th. KeyCorp restated an “overweight” rating on shares of Broadstone Net Lease in a report on Tuesday, September 15th. Truist Financial upgraded Broadstone Net Lease from a “hold” rating to a “buy” rating and lowered their price target for the stock from $22.00 to $21.00 in a research report on Thursday, October 1st. The Goldman Sachs Group lifted their price objective on shares of Broadstone Net Lease from $23.00 to $26.00 and gave the stock a “buy” rating in a research note on Saturday, August 1st. Finally, Cantor Fitzgerald lifted their price objective on shares of Broadstone Net Lease from $22.00 to $24.00 and gave the stock an “overweight” rating in a research note on Friday, July 31st.

Insider Buying and Selling at Broadstone Net Lease

In other news, Director Richard Imperiale bought 5,000 shares of the stock in a transaction dated Thursday, August 20th. The stock was purchased at an average price of $21.22 per share, for a total transaction of $106,100.00. Following the acquisition, the director owned 26,250 shares of the company’s stock, valued at $557,025. The trade was a 23.53% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 1.02% of the company’s stock.

Hedge Funds Weigh In On Broadstone Net Lease

Several hedge funds have recently added to or reduced their stakes in the company. QRG Capital Management Inc. raised its position in Broadstone Net Lease by 3.3% in the 2nd quarter. QRG Capital Management Inc. now owns 19,899 shares of the company’s stock worth $411,000 after purchasing an additional 639 shares during the period. Arizona State Retirement System lifted its stake in Broadstone Net Lease by 1.7% in the second quarter. Arizona State Retirement System now owns 52,865 shares of the company’s stock worth $1,093,000 after purchasing an additional 865 shares during the last quarter. Rockefeller Capital Management L.P. lifted its stake in Broadstone Net Lease by 5.1% in the fourth quarter. Rockefeller Capital Management L.P. now owns 19,294 shares of the company’s stock worth $335,000 after purchasing an additional 944 shares during the last quarter. Kestra Advisory Services LLC boosted its position in shares of Broadstone Net Lease by 6.5% during the first quarter. Kestra Advisory Services LLC now owns 22,735 shares of the company’s stock valued at $415,000 after buying an additional 1,396 shares during the period. Finally, Swiss National Bank boosted its position in shares of Broadstone Net Lease by 0.4% during the first quarter. Swiss National Bank now owns 374,300 shares of the company’s stock valued at $6,838,000 after buying an additional 1,500 shares during the period. 89.07% of the stock is currently owned by institutional investors.

Broadstone Net Lease Trading Down 1.0%

BNL opened at $17.38 on Thursday. The firm has a market cap of $3.34 billion, a P/E ratio of 22.87 and a beta of 0.91. Broadstone Net Lease has a 12 month low of $17.13 and a 12 month high of $23.10. The stock has a 50-day moving average of $19.53 and a 200 day moving average of $20.33.

Broadstone Net Lease (NYSE:BNL) last issued its quarterly earnings data on Wednesday, July 29th. The company reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.02. The company had revenue of $122.31 million for the quarter, compared to analysts’ expectations of $121.63 million. Broadstone Net Lease had a return on equity of 4.83% and a net margin of 30.61%. Broadstone Net Lease has set its FY 2026 guidance at 1.550-1.570 EPS. On average, research analysts forecast that Broadstone Net Lease will post 1.51 earnings per share for the current fiscal year.

About Broadstone Net Lease

Broadstone Net Lease, Inc (NYSE: BNL) is a real estate investment trust (REIT) that owns and manages a diversified portfolio of primarily single-tenant commercial properties. The company generally leases its properties under long-term, triple-net agreements, under which tenants are typically responsible for property taxes, insurance and maintenance expenses.

Broadstone’s portfolio includes properties used by healthcare providers, industrial and manufacturing companies, office-based businesses, restaurants and retail operators.