Broadstone Net Lease (NYSE:BNL) Stock Rating Upgraded by Citizens Jmp

Broadstone Net Lease (NYSE:BNL) was upgraded by research analysts at Citizens Jmp from a “hold” rating to a “strong-buy” rating in a research report issued on Tuesday,Zacks.com reports.

A number of other analysts have also recently weighed in on BNL. UBS Group assumed coverage on shares of Broadstone Net Lease in a research note on Thursday, November 14th. They set a “neutral” rating and a $18.00 target price on the stock. The Goldman Sachs Group increased their price target on Broadstone Net Lease from $14.50 to $16.00 and gave the stock a “sell” rating in a report on Friday, September 13th. Wedbush started coverage on shares of Broadstone Net Lease in a research note on Monday, August 19th. They issued an “outperform” rating and a $20.00 price objective for the company. Finally, JMP Securities raised Broadstone Net Lease from a “market perform” rating to an “outperform” rating and set a $21.00 price target on the stock in a research note on Tuesday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $18.60.

Broadstone Net Lease Trading Down 3.6 %

Shares of BNL stock opened at $16.16 on Tuesday. The stock has a 50 day simple moving average of $17.54 and a 200 day simple moving average of $17.35. The stock has a market cap of $3.05 billion, a P/E ratio of 21.26 and a beta of 1.10. Broadstone Net Lease has a 1 year low of $14.20 and a 1 year high of $19.15.

Broadstone Net Lease (NYSE:BNL) last posted its quarterly earnings results 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). Broadstone Net Lease had a return on equity of 4.47% and a net margin of 33.56%. The firm had revenue of $108.40 million for the quarter, compared to analyst estimates of $106.47 million. During the same quarter in the prior year, the business posted $0.36 EPS. Analysts forecast that Broadstone Net Lease will post 1.39 EPS for the current year.

Hedge Funds Weigh In On Broadstone Net Lease

A number of hedge funds and other institutional investors have recently modified their holdings of BNL. Natixis Advisors LLC lifted its stake in Broadstone Net Lease by 63.2% in the third quarter. Natixis Advisors LLC now owns 114,272 shares of the company’s stock valued at $2,165,000 after purchasing an additional 44,264 shares during the last quarter. Legato Capital Management LLC purchased a new position in shares of Broadstone Net Lease during the second quarter worth about $1,404,000. Sei Investments Co. grew its stake in Broadstone Net Lease by 20.8% in the 2nd quarter. Sei Investments Co. now owns 545,556 shares of the company’s stock worth $8,658,000 after buying an additional 94,092 shares in the last quarter. Victory Capital Management Inc. increased its stake in Broadstone Net Lease by 2,302.8% in the second quarter. Victory Capital Management Inc. now owns 1,073,735 shares of the company’s stock valued at $17,040,000 after acquiring an additional 1,029,048 shares during the last quarter. Finally, Meritage Portfolio Management bought a new position in shares of Broadstone Net Lease during the 3rd quarter valued at about $5,610,000. Hedge funds and other institutional investors 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.