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

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

Other equities analysts have also recently issued research reports about the stock. Wolfe Research raised shares of 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. JMP Securities restated a “market outperform” rating and issued a $21.00 target price on shares of Broadstone Net Lease in a research report on Monday, September 29th. The Goldman Sachs Group raised Broadstone Net Lease from a “sell” rating to a “buy” rating and set a $21.00 target price for the company in a research note on Thursday, August 21st. KeyCorp upgraded shares of Broadstone Net Lease from a “sector weight” rating to an “overweight” rating and set a $20.00 price objective for the company in a research report on Tuesday, August 19th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Broadstone Net Lease in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Broadstone Net Lease has an average rating of “Moderate Buy” and a consensus price target of $19.89.

Broadstone Net Lease Trading Up 1.9%

Broadstone Net Lease stock traded up $0.35 during midday trading on Friday, reaching $18.13. 1,226,884 shares of the stock traded hands, compared to its average volume of 1,519,494. Broadstone Net Lease has a fifty-two week low of $13.96 and a fifty-two week high of $18.87. The firm has a market cap of $3.43 billion, a price-to-earnings ratio of 38.56 and a beta of 1.00. The firm has a fifty day moving average price of $18.38 and a two-hundred day moving average price of $17.03.

Broadstone Net Lease (NYSE:BNL) last released its quarterly earnings results on Wednesday, October 29th. The company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.23). The business 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. Analysts anticipate that Broadstone Net Lease will post 1.43 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Blue Trust Inc. increased its position in Broadstone Net Lease by 96.9% during the third quarter. Blue Trust Inc. now owns 1,790 shares of the company’s stock worth $32,000 after buying an additional 881 shares during the last quarter. Wolff Wiese Magana LLC acquired a new position in shares of Broadstone Net Lease during the 2nd quarter valued at about $45,000. EverSource Wealth Advisors LLC lifted its holdings in Broadstone Net Lease by 80.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,261 shares of the company’s stock worth $68,000 after purchasing an additional 1,906 shares during the last quarter. Covestor Ltd grew its holdings in Broadstone Net Lease by 15.2% during the third quarter. Covestor Ltd now owns 5,928 shares of the company’s stock valued at $106,000 after purchasing an additional 781 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of Broadstone Net Lease in the first quarter valued at approximately $115,000. 89.07% of the stock is owned by institutional investors and hedge funds.

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.