UBS Group Initiates Coverage on Broadstone Net Lease (NYSE:BNL)

Research analysts at UBS Group started coverage on shares of Broadstone Net Lease (NYSE:BNL) in a research report issued on Thursday, MarketBeat reports. The brokerage set a “neutral” rating and a $18.00 price target on the stock. UBS Group’s target price suggests a potential upside of 4.65% from the stock’s previous close.

A number of other equities research analysts also recently weighed in on the stock. Truist Financial boosted their price objective on shares of Broadstone Net Lease from $16.00 to $18.00 and gave the company a “hold” rating in a research report on Friday, August 16th. Wedbush initiated coverage on Broadstone Net Lease in a research report on Monday, August 19th. They set an “outperform” rating and a $20.00 price target on the stock. Finally, The Goldman Sachs Group boosted their price objective on Broadstone Net Lease from $14.50 to $16.00 and gave the company a “sell” rating in a research report on Friday, September 13th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Broadstone Net Lease has a consensus rating of “Hold” and an average price target of $18.20.

Broadstone Net Lease Stock Up 1.6 %

NYSE:BNL opened at $17.20 on Thursday. The company has a market cap of $3.24 billion, a PE ratio of 22.63 and a beta of 1.12. The business’s 50 day moving average is $18.19 and its two-hundred day moving average is $17.03. Broadstone Net Lease has a 52 week low of $14.20 and a 52 week high of $19.15.

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

Institutional Investors Weigh In On Broadstone Net Lease

Institutional investors and hedge funds have recently bought and sold shares of the business. Evermay Wealth Management LLC lifted its position in Broadstone Net Lease by 1.2% in the 2nd quarter. Evermay Wealth Management LLC now owns 48,509 shares of the company’s stock worth $774,000 after buying an additional 579 shares in the last quarter. Xponance Inc. increased its stake in shares of Broadstone Net Lease by 5.1% in the second quarter. Xponance Inc. now owns 11,922 shares of the company’s stock worth $189,000 after acquiring an additional 580 shares during the last quarter. Cerity Partners LLC raised its holdings in shares of Broadstone Net Lease by 2.2% during the third quarter. Cerity Partners LLC now owns 40,480 shares of the company’s stock worth $767,000 after acquiring an additional 886 shares in the last quarter. Stifel Financial Corp boosted its position in Broadstone Net Lease by 6.5% during the third quarter. Stifel Financial Corp now owns 15,470 shares of the company’s stock valued at $293,000 after purchasing an additional 939 shares during the last quarter. Finally, Strategic Advocates LLC grew its stake in Broadstone Net Lease by 4.1% in the second quarter. Strategic Advocates LLC now owns 24,116 shares of the company’s stock valued at $383,000 after purchasing an additional 953 shares in the last quarter. 89.07% of the stock is owned by institutional investors and hedge funds.

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.