UBS Group Lowers Broadstone Net Lease (NYSE:BNL) Price Target to $17.00

Broadstone Net Lease (NYSE:BNL) had its target price lowered by analysts at UBS Group from $18.00 to $17.00 in a report released on Tuesday, Marketbeat.com reports. The firm currently has a “neutral” rating on the stock. UBS Group’s price objective points to a potential upside of 7.73% from the company’s current price.

Several other brokerages have also recently issued reports on BNL. JMP Securities reiterated a “market outperform” rating and set a $21.00 price target on shares of Broadstone Net Lease in a research report on Monday, May 5th. Truist Financial lifted their target price on Broadstone Net Lease from $17.00 to $18.00 and gave the stock a “hold” rating in a report on Monday, May 5th. Finally, BMO Capital Markets set a $20.00 price target on shares of Broadstone Net Lease and gave the stock an “outperform” rating in a research report on Monday, March 24th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Broadstone Net Lease currently has an average rating of “Moderate Buy” and an average target price of $18.67.

Broadstone Net Lease Stock Down 1.2%

BNL stock opened at $15.78 on Tuesday. The company has a 50-day simple moving average of $16.27 and a 200 day simple moving average of $16.40. The company has a market capitalization of $2.98 billion, a P/E ratio of 18.14 and a beta of 1.04. Broadstone Net Lease has a fifty-two week low of $13.96 and a fifty-two week high of $19.15.

Broadstone Net Lease (NYSE:BNL) last issued its quarterly earnings results on Wednesday, February 19th. The company reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.16. Broadstone Net Lease had a net margin of 37.62% and a return on equity of 5.10%. The company had revenue of $112.13 million during the quarter, compared to analyst estimates of $109.80 million. Equities analysts anticipate that Broadstone Net Lease will post 1.43 EPS for the current year.

Hedge Funds Weigh In On Broadstone Net Lease

Hedge funds and other institutional investors have recently modified their holdings of the stock. Ritholtz Wealth Management boosted its holdings in shares of Broadstone Net Lease by 2.8% in the first quarter. Ritholtz Wealth Management now owns 24,939 shares of the company’s stock worth $425,000 after buying an additional 673 shares during the period. Xponance Inc. raised its stake in Broadstone Net Lease by 5.3% during the 1st quarter. Xponance Inc. now owns 14,298 shares of the company’s stock valued at $244,000 after purchasing an additional 721 shares during the period. State of Alaska Department of Revenue lifted its holdings in shares of Broadstone Net Lease by 1.0% in the fourth quarter. State of Alaska Department of Revenue now owns 90,318 shares of the company’s stock valued at $1,432,000 after purchasing an additional 882 shares in the last quarter. Rockefeller Capital Management L.P. boosted its position in shares of Broadstone Net Lease by 3.9% in the fourth quarter. Rockefeller Capital Management L.P. now owns 23,826 shares of the company’s stock worth $378,000 after buying an additional 892 shares during the period. Finally, Corient Private Wealth LLC grew its holdings in shares of Broadstone Net Lease by 2.2% during the fourth quarter. Corient Private Wealth LLC now owns 41,892 shares of the company’s stock valued at $664,000 after buying an additional 907 shares in the last quarter. 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.