Broadstone Net Lease, Inc. (NYSE:BNL) Given Consensus Rating of “Hold” by Analysts

Broadstone Net Lease, Inc. (NYSE:BNL) has earned a consensus recommendation of “Hold” from the eight research firms that are currently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation, two have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $18.60.

A number of research firms have commented on BNL. JMP Securities upgraded Broadstone Net Lease from a “market perform” rating to an “outperform” rating and set a $21.00 price target for the company in a research note on Tuesday, December 17th. Citizens Jmp upgraded Broadstone Net Lease from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 17th. Finally, UBS Group began coverage on Broadstone Net Lease in a research note on Thursday, November 14th. They issued a “neutral” rating and a $18.00 price target for the company.

Broadstone Net Lease Price Performance

Shares of BNL stock opened at $15.59 on Thursday. Broadstone Net Lease has a 1-year low of $14.20 and a 1-year high of $19.15. The stock’s 50-day moving average is $15.84 and its 200 day moving average is $17.18. The company has a market cap of $2.94 billion, a P/E ratio of 20.51 and a beta of 1.11.

Broadstone Net Lease (NYSE:BNL) last released its quarterly earnings results on Wednesday, February 19th. The company reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.16. Broadstone Net Lease had a return on equity of 4.47% and a net margin of 33.56%. On average, analysts anticipate that Broadstone Net Lease will post 1.39 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Federated Hermes Inc. raised its stake in shares of Broadstone Net Lease by 73,833.3% in the fourth quarter. Federated Hermes Inc. now owns 2,218 shares of the company’s stock worth $35,000 after purchasing an additional 2,215 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in Broadstone Net Lease by 139.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 2,735 shares of the company’s stock valued at $43,000 after acquiring an additional 1,592 shares in the last quarter. Tower Research Capital LLC TRC raised its position in Broadstone Net Lease by 192.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,914 shares of the company’s stock valued at $46,000 after acquiring an additional 1,918 shares in the last quarter. GF Fund Management CO. LTD. purchased a new position in Broadstone Net Lease during the fourth quarter valued at approximately $54,000. Finally, Quarry LP purchased a new position in Broadstone Net Lease during the fourth quarter valued at approximately $57,000. 89.07% of the stock is currently 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.