Broadstone Net Lease (NYSE:BNL) Stock Rating Upgraded by Citizens Jmp

Broadstone Net Lease (NYSE:BNL) was upgraded by equities research analysts at Citizens Jmp from a “hold” rating to a “strong-buy” rating in a report released on Tuesday,Zacks.com reports.

Several other research analysts also recently weighed in on the stock. JMP Securities upgraded shares of Broadstone Net Lease from a “market perform” rating to an “outperform” rating and set a $21.00 price objective on the stock in a report on Tuesday. Wedbush initiated coverage on shares of Broadstone Net Lease in a research report on Monday, August 19th. They set an “outperform” rating and a $20.00 price target on the stock. The Goldman Sachs Group lifted their target price on shares of Broadstone Net Lease from $14.50 to $16.00 and gave the stock a “sell” rating in a research report on Friday, September 13th. Finally, UBS Group initiated coverage on Broadstone Net Lease in a report on Thursday, November 14th. They issued a “neutral” rating and a $18.00 target price for the company. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $18.67.

Broadstone Net Lease Price Performance

Shares of BNL opened at $16.78 on Tuesday. Broadstone Net Lease has a one year low of $14.20 and a one year high of $19.15. The company has a market cap of $3.16 billion, a PE ratio of 22.07 and a beta of 1.10. The stock has a 50-day moving average of $17.58 and a 200-day moving average of $17.35.

Broadstone Net Lease (NYSE:BNL) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.15). The firm had revenue of $108.40 million during the quarter, compared to analyst estimates of $106.47 million. Broadstone Net Lease had a net margin of 33.56% and a return on equity of 4.47%. During the same period last year, the business posted $0.36 EPS. Analysts expect that Broadstone Net Lease will post 1.39 EPS for the current fiscal year.

Institutional Trading of Broadstone Net Lease

Hedge funds have recently made changes to their positions in the company. Evermay Wealth Management LLC lifted its stake in shares of Broadstone Net Lease by 1.2% during the 2nd quarter. Evermay Wealth Management LLC now owns 48,509 shares of the company’s stock valued at $774,000 after buying an additional 579 shares in the last quarter. Xponance Inc. raised its holdings in Broadstone Net Lease by 5.1% during the 2nd quarter. Xponance Inc. now owns 11,922 shares of the company’s stock valued at $189,000 after acquiring an additional 580 shares during the period. Cerity Partners LLC lifted its position in shares of Broadstone Net Lease by 2.2% during the third quarter. Cerity Partners LLC now owns 40,480 shares of the company’s stock worth $767,000 after acquiring an additional 886 shares in the last quarter. Stifel Financial Corp boosted its holdings in shares of Broadstone Net Lease by 6.5% in the third quarter. Stifel Financial Corp now owns 15,470 shares of the company’s stock worth $293,000 after acquiring an additional 939 shares during the period. Finally, HB Wealth Management LLC grew its position in shares of Broadstone Net Lease by 4.8% in the second quarter. HB Wealth Management LLC now owns 21,178 shares of the company’s stock valued at $336,000 after purchasing an additional 967 shares in the last quarter. 89.07% of the stock is currently owned by 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.