JMP Securities Upgrades Broadstone Net Lease (NYSE:BNL) to “Outperform”

Broadstone Net Lease (NYSE:BNL) was upgraded by equities researchers at JMP Securities from a “market perform” rating to an “outperform” rating in a research note issued on Tuesday,Briefing.com Automated Import reports. The brokerage presently has a $21.00 target price on the stock. JMP Securities’ price target would suggest a potential upside of 24.26% from the company’s previous close.

BNL has been the subject of a number of other research reports. Wedbush assumed coverage on Broadstone Net Lease in a research note on Monday, August 19th. They set an “outperform” rating and a $20.00 price objective for the company. UBS Group initiated coverage on shares of Broadstone Net Lease in a research report on Thursday, November 14th. They set a “neutral” rating and a $18.00 price target for the company. Finally, The Goldman Sachs Group boosted their price objective on shares of Broadstone Net Lease from $14.50 to $16.00 and gave the company a “sell” rating in a research report on Friday, September 13th. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $18.67.

Broadstone Net Lease Price Performance

Shares of NYSE:BNL opened at $16.90 on Tuesday. The stock has a market cap of $3.19 billion, a PE ratio of 22.24 and a beta of 1.10. The company’s fifty day moving average is $17.61 and its 200 day moving average is $17.34. Broadstone Net Lease has a 52 week low of $14.20 and a 52 week high of $19.15.

Broadstone Net Lease (NYSE:BNL) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.15). The company had revenue of $108.40 million during the quarter, compared to analysts’ expectations of $106.47 million. Broadstone Net Lease had a return on equity of 4.47% and a net margin of 33.56%. During the same quarter in the prior year, the firm posted $0.36 EPS. Sell-side analysts anticipate that Broadstone Net Lease will post 1.39 EPS for the current year.

Institutional Trading of Broadstone Net Lease

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Natixis Advisors LLC lifted its position in Broadstone Net Lease by 63.2% during the third quarter. Natixis Advisors LLC now owns 114,272 shares of the company’s stock valued at $2,165,000 after buying an additional 44,264 shares during the period. Legato Capital Management LLC bought a new position in shares of Broadstone Net Lease in the 2nd quarter worth about $1,404,000. Sei Investments Co. lifted its position in Broadstone Net Lease by 20.8% during the 2nd quarter. Sei Investments Co. now owns 545,556 shares of the company’s stock valued at $8,658,000 after acquiring an additional 94,092 shares during the period. Victory Capital Management Inc. boosted its stake in Broadstone Net Lease by 2,302.8% during the second quarter. Victory Capital Management Inc. now owns 1,073,735 shares of the company’s stock worth $17,040,000 after acquiring an additional 1,029,048 shares in the last quarter. Finally, Meritage Portfolio Management purchased a new stake in Broadstone Net Lease in the third quarter worth about $5,610,000. 89.07% of the stock is currently owned by hedge funds and other 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.