Citizens Jmp Reiterates “Market Outperform” Rating for Broadstone Net Lease (NYSE:BNL)

Broadstone Net Lease (NYSE:BNL)‘s stock had its “market outperform” rating reiterated by equities research analysts at Citizens Jmp in a research report issued to clients and investors on Tuesday,Benzinga reports. They currently have a $21.00 price target on the stock. Citizens Jmp’s price objective suggests a potential upside of 20.00% from the stock’s current price.

A number of other equities research analysts also recently weighed in on the company. Cantor Fitzgerald began coverage on Broadstone Net Lease in a research report on Wednesday, October 1st. They set an “overweight” rating and a $21.00 price objective on the stock. Truist Financial increased their price target on shares of Broadstone Net Lease from $18.00 to $20.00 and gave the company a “hold” rating in a research report on Tuesday, November 25th. BTIG Research reaffirmed a “buy” rating and issued a $22.00 price objective on shares of Broadstone Net Lease in a research report on Wednesday, October 1st. UBS Group boosted their price objective on shares of Broadstone Net Lease from $16.00 to $17.00 and gave the stock a “neutral” rating in a research note on Friday, August 15th. Finally, Wall Street Zen raised shares of Broadstone Net Lease from a “sell” rating to a “hold” rating in a research report on Sunday. Eight research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $20.20.

Broadstone Net Lease Stock Performance

NYSE BNL opened at $17.50 on Tuesday. The company has a market cap of $3.31 billion, a PE ratio of 37.23 and a beta of 1.00. The firm’s 50 day moving average price is $18.21 and its 200-day moving average price is $17.26. Broadstone Net Lease has a 52-week low of $13.96 and a 52-week high of $18.87.

Broadstone Net Lease (NYSE:BNL) last issued its quarterly earnings data on Wednesday, October 29th. The company reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.23). The business had revenue of $114.17 million during the quarter, compared to the consensus estimate of $111.89 million. Broadstone Net Lease had a return on equity of 2.91% and a net margin of 20.04%. Broadstone Net Lease has set its FY 2025 guidance at 1.490-1.500 EPS. On average, analysts forecast that Broadstone Net Lease will post 1.43 earnings per share for the current fiscal year.

Institutional Trading of Broadstone Net Lease

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BNL. Evermay Wealth Management LLC grew its stake in Broadstone Net Lease by 1.4% during the 2nd quarter. Evermay Wealth Management LLC now owns 47,560 shares of the company’s stock valued at $766,000 after purchasing an additional 656 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of Broadstone Net Lease by 0.9% during the second quarter. American Century Companies Inc. now owns 77,865 shares of the company’s stock worth $1,250,000 after purchasing an additional 664 shares during the period. Alps Advisors Inc. boosted its position in Broadstone Net Lease by 4.7% in the third quarter. Alps Advisors Inc. now owns 16,574 shares of the company’s stock valued at $296,000 after buying an additional 737 shares during the last quarter. Lazard Asset Management LLC increased its holdings in Broadstone Net Lease by 0.9% in the 2nd quarter. Lazard Asset Management LLC now owns 89,265 shares of the company’s stock worth $1,432,000 after buying an additional 768 shares during the period. Finally, Arizona State Retirement System increased its holdings in Broadstone Net Lease by 1.4% in the 3rd quarter. Arizona State Retirement System now owns 55,951 shares of the company’s stock worth $1,000,000 after buying an additional 779 shares during the period. Institutional investors and hedge funds 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.