Broadstone Net Lease (NYSE:BNL) Given New $23.00 Price Target at BTIG Research

Broadstone Net Lease (NYSE:BNL) had its price objective lifted by equities researchers at BTIG Research from $21.00 to $23.00 in a report released on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. BTIG Research’s price objective would indicate a potential upside of 9.60% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the company. Citigroup cut Broadstone Net Lease from a “market perform” rating to a “market perform” rating in a research note on Friday, June 12th. Weiss Ratings upgraded shares of Broadstone Net Lease from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, May 4th. Truist Financial set a $22.00 price objective on shares of Broadstone Net Lease in a report on Monday, June 8th. UBS Group lifted their target price on shares of Broadstone Net Lease from $19.00 to $20.00 and gave the stock a “neutral” rating in a research note on Monday, March 9th. Finally, Citizens Jmp downgraded shares of Broadstone Net Lease from an “outperform” rating to a “market perform” rating in a research report on Friday, June 12th. Eight analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.78.

Broadstone Net Lease Stock Down 0.5%

Shares of BNL opened at $20.98 on Friday. The company has a 50 day moving average of $20.32 and a two-hundred day moving average of $19.21. Broadstone Net Lease has a twelve month low of $15.66 and a twelve month high of $21.50. The company has a market cap of $4.02 billion, a price-to-earnings ratio of 32.28 and a beta of 0.95.

Broadstone Net Lease (NYSE:BNL) last issued its quarterly earnings data on Wednesday, April 29th. The company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.18 by $0.06. Broadstone Net Lease had a return on equity of 4.17% and a net margin of 27.01%.The firm had revenue of $121.40 million during the quarter, compared to analyst estimates of $118.84 million. Broadstone Net Lease has set its FY 2026 guidance at 1.530-1.570 EPS. On average, sell-side analysts expect that Broadstone Net Lease will post 1.52 EPS for the current year.

Institutional Investors Weigh In On Broadstone Net Lease

A number of large investors have recently bought and sold shares of the company. Invesco Ltd. increased its holdings in Broadstone Net Lease by 391.1% in the 4th quarter. Invesco Ltd. now owns 4,565,429 shares of the company’s stock worth $79,302,000 after buying an additional 3,635,809 shares during the period. Balyasny Asset Management L.P. boosted its holdings in shares of Broadstone Net Lease by 213.2% in the 2nd quarter. Balyasny Asset Management L.P. now owns 4,335,166 shares of the company’s stock valued at $69,579,000 after acquiring an additional 2,951,207 shares during the last quarter. Norges Bank purchased a new stake in shares of Broadstone Net Lease in the 4th quarter valued at $41,471,000. Hudson Bay Capital Management LP acquired a new stake in shares of Broadstone Net Lease in the third quarter worth $37,998,000. Finally, New England Private Wealth Advisors LLC acquired a new stake in shares of Broadstone Net Lease in the fourth quarter worth $27,426,000. Hedge funds and other institutional investors own 89.07% of the company’s stock.

About Broadstone Net Lease

Broadstone Net Lease, Inc (NYSE: BNL) is a publicly traded real estate investment trust focused on owning and operating single-tenant commercial properties under long-term net leases. The company specializes in acquiring properties that are leased to creditworthy tenants, allowing it to generate predictable, stable rental income while transferring most operating expenses and responsibilities to its lessees.

Broadstone Net Lease’s portfolio spans a variety of property types, including industrial facilities, distribution centers, manufacturing plants, life science and office buildings, and essential retail locations.