Broadstone Net Lease (NYSE:BNL) Price Target Lowered to $21.00 at BTIG Research

Broadstone Net Lease (NYSE:BNL) had its target price dropped by research analysts at BTIG Research from $22.00 to $21.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. BTIG Research’s price objective points to a potential upside of 19.69% from the company’s current price.

Several other analysts have also recently weighed in on the stock. UBS Group increased their price target on shares of Broadstone Net Lease from $16.00 to $17.00 and gave the company a “neutral” rating in a research note on Friday, August 15th. Wall Street Zen upgraded Broadstone Net Lease from a “sell” rating to a “hold” rating in a research report on Sunday, November 30th. The Goldman Sachs Group raised Broadstone Net Lease from a “sell” rating to a “buy” rating and set a $21.00 target price for the company in a research note on Thursday, August 21st. Citizens Jmp restated a “market outperform” rating and issued a $21.00 target price on shares of Broadstone Net Lease in a research report on Tuesday. Finally, Truist Financial increased their price target on Broadstone Net Lease from $18.00 to $20.00 and gave the stock a “hold” rating in a report on Tuesday, November 25th. Eight analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, Broadstone Net Lease presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.10.

Broadstone Net Lease Stock Up 0.1%

Shares of BNL opened at $17.55 on Friday. Broadstone Net Lease has a 52-week low of $13.96 and a 52-week high of $18.87. The stock has a fifty day simple moving average of $18.17 and a two-hundred day simple moving average of $17.28. The company has a market capitalization of $3.32 billion, a PE ratio of 37.33 and a beta of 1.03.

Broadstone Net Lease (NYSE:BNL) last announced its quarterly earnings results on Wednesday, October 29th. The company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.23). Broadstone Net Lease had a net margin of 20.04% and a return on equity of 2.93%. The firm had revenue of $114.17 million for the quarter, compared to analyst estimates of $111.89 million. Broadstone Net Lease has set its FY 2025 guidance at 1.490-1.500 EPS. As a group, equities analysts anticipate that Broadstone Net Lease will post 1.43 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Broadstone Net Lease

Several large investors have recently bought and sold shares of the stock. Strategic Advocates LLC purchased a new position in shares of Broadstone Net Lease during the 3rd quarter worth $30,000. Blue Trust Inc. increased its stake in Broadstone Net Lease by 96.9% in the third quarter. Blue Trust Inc. now owns 1,790 shares of the company’s stock valued at $32,000 after purchasing an additional 881 shares during the last quarter. Wolff Wiese Magana LLC purchased a new position in Broadstone Net Lease during the second quarter worth about $45,000. Advisory Services Network LLC acquired a new stake in Broadstone Net Lease in the 3rd quarter worth about $61,000. Finally, EverSource Wealth Advisors LLC boosted its stake in Broadstone Net Lease by 80.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,261 shares of the company’s stock worth $68,000 after buying an additional 1,906 shares during the last quarter. Institutional investors and hedge funds 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.