Broadstone Net Lease (NYSE:BNL) Earns Neutral Rating from Analysts at UBS Group

Investment analysts at UBS Group initiated coverage on shares of Broadstone Net Lease (NYSE:BNL) in a research note issued on Thursday, Marketbeat.com reports. The brokerage set a “neutral” rating and a $18.00 price target on the stock. UBS Group’s target price would indicate a potential upside of 4.65% from the company’s current price.

A number of other brokerages have also commented on BNL. Wedbush began coverage on Broadstone Net Lease in a report on Monday, August 19th. They set an “outperform” rating and a $20.00 price target for the company. Truist Financial upped their target price on shares of Broadstone Net Lease from $16.00 to $18.00 and gave the company a “hold” rating in a research note on Friday, August 16th. Finally, The Goldman Sachs Group boosted their price objective on shares of Broadstone Net Lease from $14.50 to $16.00 and gave the stock a “sell” rating in a report on Friday, September 13th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $18.20.

Broadstone Net Lease Price Performance

Broadstone Net Lease stock opened at $17.20 on Thursday. Broadstone Net Lease has a one year low of $14.20 and a one year high of $19.15. The company’s fifty day moving average price is $18.19 and its two-hundred day moving average price is $17.03. The company has a market capitalization of $3.24 billion, a price-to-earnings ratio of 22.63 and a beta of 1.12.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Millennium Management LLC increased its position in shares of Broadstone Net Lease by 709.4% during the 2nd quarter. Millennium Management LLC now owns 3,177,459 shares of the company’s stock worth $50,426,000 after purchasing an additional 2,784,878 shares in the last quarter. V3 Capital Management L.P. acquired a new stake in Broadstone Net Lease in the 1st quarter valued at about $20,747,000. Lasalle Investment Management Securities LLC bought a new position in shares of Broadstone Net Lease in the first quarter worth about $18,226,000. Victory Capital Management Inc. lifted its position in shares of 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 purchasing an additional 1,029,048 shares in the last quarter. Finally, Brookfield Corp ON acquired a new position in Broadstone Net Lease in the third quarter valued at about $18,444,000. Institutional investors own 89.07% of the company’s stock.

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.