Broadstone Net Lease (NYSE:BNL) Earns “Market Outperform” Rating from Citizens Jmp

Broadstone Net Lease (NYSE:BNL)‘s stock had its “market outperform” rating reiterated by stock analysts at Citizens Jmp in a research note issued to investors on Tuesday,Benzinga reports. They currently have a $21.00 price objective on the stock. Citizens Jmp’s target price would suggest a potential upside of 19.76% from the company’s previous close.

BNL has been the topic of several other research reports. The Goldman Sachs Group upgraded Broadstone Net Lease from a “sell” rating to a “buy” rating and set a $21.00 price objective on the stock in a research report on Thursday, August 21st. KeyCorp upgraded shares of Broadstone Net Lease from a “sector weight” rating to an “overweight” rating and set a $20.00 price target on the stock in a research report on Tuesday, August 19th. UBS Group upped 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 report on Friday, August 15th. BTIG Research restated a “buy” rating and set a $22.00 target price on shares of Broadstone Net Lease in a research report on Wednesday, October 1st. Finally, Wall Street Zen raised Broadstone Net Lease from a “sell” rating to a “hold” rating in a report on Sunday. Eight research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $20.20.

Broadstone Net Lease Stock Performance

Shares of BNL opened at $17.54 on Tuesday. The business’s 50-day moving average is $18.18 and its two-hundred day moving average is $17.27. The company has a market capitalization of $3.32 billion, a P/E ratio of 37.31 and a beta of 1.03. Broadstone Net Lease has a fifty-two week low of $13.96 and a fifty-two week high of $18.87.

Broadstone Net Lease (NYSE:BNL) last issued its earnings results on Wednesday, October 29th. The company reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.23). The company had revenue of $114.17 million during the quarter, compared to analysts’ expectations of $111.89 million. Broadstone Net Lease had a return on equity of 2.93% and a net margin of 20.04%.Broadstone Net Lease has set its FY 2025 guidance at 1.490-1.500 EPS. Analysts forecast 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 business. Evermay Wealth Management LLC increased its position 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 worth $766,000 after purchasing an additional 656 shares during the period. American Century Companies Inc. boosted its stake in shares of Broadstone Net Lease by 0.9% in the second quarter. American Century Companies Inc. now owns 77,865 shares of the company’s stock valued at $1,250,000 after buying an additional 664 shares in the last quarter. Alps Advisors Inc. boosted its stake in shares of 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 in the last quarter. Lazard Asset Management LLC grew its holdings in Broadstone Net Lease by 0.9% during the second quarter. Lazard Asset Management LLC now owns 89,265 shares of the company’s stock worth $1,432,000 after acquiring an additional 768 shares during the period. Finally, Arizona State Retirement System raised its position in Broadstone Net Lease by 1.4% in the third quarter. Arizona State Retirement System now owns 55,951 shares of the company’s stock worth $1,000,000 after acquiring an additional 779 shares in the last quarter. 89.07% of the stock is owned by hedge funds and other 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.