Broadstone Net Lease (NYSE:BNL) Stock Rating Upgraded by JMP Securities

Broadstone Net Lease (NYSE:BNL) was upgraded by investment analysts at JMP Securities from a “market perform” rating to an “outperform” rating in a research note issued to investors on Tuesday, Marketbeat.com reports. The firm currently has a $21.00 target price on the stock. JMP Securities’ price objective indicates a potential upside of 29.95% from the stock’s previous close.

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

Broadstone Net Lease Stock Performance

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

Broadstone Net Lease (NYSE:BNL) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $106.47 million. During the same quarter in the prior year, the firm earned $0.36 EPS. Analysts predict that Broadstone Net Lease will post 1.39 EPS for the current year.

Institutional Trading of Broadstone Net Lease

Several institutional investors and hedge funds have recently bought and sold shares of the business. Bank of New York Mellon Corp boosted its stake in shares of Broadstone Net Lease by 3.2% during the second quarter. Bank of New York Mellon Corp now owns 1,767,296 shares of the company’s stock worth $28,047,000 after buying an additional 54,885 shares during the period. Legato Capital Management LLC acquired a new position in shares of Broadstone Net Lease in the second quarter valued at approximately $1,404,000. HB Wealth Management LLC raised its stake in shares of Broadstone Net Lease by 4.8% during the second quarter. HB Wealth Management LLC now owns 21,178 shares of the company’s stock worth $336,000 after purchasing an additional 967 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in shares of Broadstone Net Lease by 3.5% during the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 34,455 shares of the company’s stock worth $547,000 after purchasing an additional 1,163 shares during the period. Finally, Van ECK Associates Corp grew its position in Broadstone Net Lease by 7.0% in the 2nd quarter. Van ECK Associates Corp now owns 28,861 shares of the company’s stock valued at $458,000 after buying an additional 1,894 shares during the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

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.