Broadstone Net Lease (NYSE:BNL) PT Raised to $16.00 at The Goldman Sachs Group

Broadstone Net Lease (NYSE:BNL) had its price objective hoisted by equities research analysts at The Goldman Sachs Group from $14.50 to $16.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage currently has a “sell” rating on the stock. The Goldman Sachs Group’s price target indicates a potential downside of 14.16% from the company’s current price.

Other equities analysts also recently issued reports about the company. KeyCorp assumed coverage on Broadstone Net Lease in a research report on Wednesday, June 12th. They set a “sector weight” rating for the company. Truist Financial upped their price objective on 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, Wedbush assumed 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 for the company. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $18.00.

Broadstone Net Lease Trading Up 1.9 %

BNL stock opened at $18.64 on Friday. Broadstone Net Lease has a 12 month low of $13.68 and a 12 month high of $18.72. The company has a market cap of $3.51 billion, a price-to-earnings ratio of 19.42 and a beta of 1.11. The firm has a 50-day moving average of $17.62 and a two-hundred day moving average of $16.01.

Broadstone Net Lease (NYSE:BNL) last released its quarterly earnings results on Tuesday, July 30th. The company reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.15). The company had revenue of $105.91 million during the quarter, compared to analysts’ expectations of $105.95 million. Broadstone Net Lease had a net margin of 36.78% and a return on equity of 4.86%. During the same period last year, the firm posted $0.35 earnings per share. As a group, equities analysts forecast that Broadstone Net Lease will post 1.39 earnings per share for the current year.

Institutional Trading of Broadstone Net Lease

Several institutional investors have recently added to or reduced their stakes in the stock. GSI Capital Advisors LLC increased its stake in Broadstone Net Lease by 39.6% during the fourth quarter. GSI Capital Advisors LLC now owns 241,085 shares of the company’s stock valued at $4,151,000 after purchasing an additional 68,370 shares during the last quarter. Evermay Wealth Management LLC grew its position in Broadstone Net Lease by 27.9% in the fourth quarter. Evermay Wealth Management LLC now owns 42,999 shares of the company’s stock worth $744,000 after buying an additional 9,385 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of Broadstone Net Lease by 431.9% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,176,195 shares of the company’s stock worth $18,431,000 after buying an additional 955,066 shares during the period. BI Asset Management Fondsmaeglerselskab A S lifted its position in shares of Broadstone Net Lease by 688.9% in the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 179,476 shares of the company’s stock worth $3,091,000 after purchasing an additional 156,727 shares in the last quarter. Finally, QRG Capital Management Inc. acquired a new stake in Broadstone Net Lease during the fourth quarter valued at $232,000. 89.07% of the stock is owned by institutional investors and hedge funds.

About Broadstone Net Lease

BNL is an industrial-focused, diversified net lease REIT that acquires, owns, and manages primarily single-tenant commercial real estate properties that are net leased on a long-term basis to a diversified group of tenants. Utilizing an investment strategy underpinned by strong fundamental credit analysis and prudent real estate underwriting, as of September 30, 2023, BNL's diversified portfolio consisted of 800 individual net leased commercial properties with 793 properties located in 44 U.S.