Broadstone Net Lease (NYSE:BNL) Stock Price Expected to Rise, Truist Financial Analyst Says

Key Points

• Truist raised its price target on Broadstone Net Lease from $21 to $22 and reiterated a Buy rating, implying about 25% upside from the share price at the time. Analysts’ average rating was “Moderate Buy,” with an average target of $22.11.
• Quarterly results fell short of expectations: Broadstone reported earnings per share of $0.14 versus the $0.16 consensus estimate, while revenue of $121.87 million was slightly below forecasts of $122.19 million.

Broadstone Net Lease (NYSE:BNL - Get Free Report) had its price objective boosted by equities researchers at Truist Financial from $21.00 to $22.00 in a note issued to investors on Friday, Benzinga reports. The brokerage presently has a "buy" rating on the stock. Truist Financial's price target points to a potential upside of 24.93% from the stock's current price.

A number of other research analysts have also weighed in on the company. Cantor Fitzgerald reduced their target price on Broadstone Net Lease from $24.00 to $21.00 and set an "overweight" rating for the company in a report on Friday, October 30th. The Goldman Sachs Group lowered their price target on shares of Broadstone Net Lease from $26.00 to $23.00 and set a "buy" rating on the stock in a report on Monday, November 2nd. KeyCorp restated an "overweight" rating on shares of Broadstone Net Lease in a research report on Tuesday, September 15th. Wall Street Zen cut shares of Broadstone Net Lease from a "hold" rating to a "sell" rating in a research note on Saturday, October 31st. Finally, Weiss Ratings cut shares of Broadstone Net Lease from a "buy (b)" rating to a "buy (b-)" rating in a research note on Thursday, October 8th. Eight investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, Broadstone Net Lease presently has an average rating of "Moderate Buy" and an average target price of $22.11.

Broadstone Net Lease Price Performance

Broadstone Net Lease stock opened at $17.61 on Friday. Broadstone Net Lease has a one year low of $16.70 and a one year high of $23.10. The business has a fifty day moving average price of $18.53 and a 200-day moving average price of $19.82. The firm has a market capitalization of $3.38 billion, a P/E ratio of 23.17 and a beta of 0.91.

Broadstone Net Lease (NYSE:BNL - Get Free Report) last announced its quarterly earnings results on Wednesday, October 28th. The company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.02). The company had revenue of $121.87 million during the quarter, compared to analysts' expectations of $122.19 million. Broadstone Net Lease had a net margin of 30.26% and a return on equity of 4.86%. Sell-side analysts expect that Broadstone Net Lease will post 1.51 earnings per share for the current fiscal year.

Insider Transactions at Broadstone Net Lease

In other Broadstone Net Lease news, Director Richard Imperiale purchased 5,000 shares of Broadstone Net Lease stock in a transaction on Thursday, August 20th. The shares were acquired at an average cost of $21.22 per share, for a total transaction of $106,100.00. Following the completion of the transaction, the director directly owned 26,250 shares of the company's stock, valued at approximately $557,025. The trade was a 23.53% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 1.02% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Broadstone Net Lease

A number of hedge funds have recently made changes to their positions in the business. Bleakley Financial Group LLC grew its holdings in shares of Broadstone Net Lease by 2.1% during the 3rd quarter. Bleakley Financial Group LLC now owns 35,680 shares of the company's stock valued at $660,000 after purchasing an additional 745 shares during the last quarter. GSI Capital Advisors LLC lifted its stake in Broadstone Net Lease by 84.2% in the third quarter. GSI Capital Advisors LLC now owns 349,085 shares of the company's stock worth $6,458,000 after purchasing an additional 159,616 shares during the last quarter. First Trust Advisors LP boosted its position in Broadstone Net Lease by 37.9% during the third quarter. First Trust Advisors LP now owns 190,047 shares of the company's stock valued at $3,516,000 after buying an additional 52,182 shares during the period. Resona Asset Management Co. Ltd. boosted its position in Broadstone Net Lease by 1.7% during the third quarter. Resona Asset Management Co. Ltd. now owns 84,960 shares of the company's stock valued at $1,602,000 after buying an additional 1,394 shares during the period. Finally, Private Advisor Group LLC bought a new position in shares of Broadstone Net Lease during the third quarter valued at about $377,000. 89.07% of the stock is currently owned by institutional investors.

Broadstone Net Lease Company Profile

Broadstone Net Lease, Inc. is an internally managed real estate investment trust that acquires, owns and manages commercial properties leased to businesses under long-term net lease agreements. Its tenants generally assume responsibility for property expenses such as taxes, insurance and maintenance. The company's portfolio spans property types including industrial, healthcare, retail and office, with properties primarily in the United States and also in Canada. Broadstone was founded in 2007 and is headquartered in Rochester, New York.

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