Broadstone Net Lease (NYSE:BNL) Stock Price Target Lowered at Cantor Fitzgerald

Key Points

• Cantor Fitzgerald lowered Broadstone Net Lease’s price target from $24 to $21 while maintaining an “overweight” rating, implying approximately 20.65% upside from the stock’s $17.41 price.
• Analyst sentiment remains favorable overall: eight analysts rate BNL a Buy and three rate it a Hold, producing a consensus “Moderate Buy” rating and an average target of $22.33.
• Broadstone Net Lease reported quarterly EPS of $0.14, below the $0.16 consensus estimate, while revenue of $121.87 million was slightly under expectations. Institutional investors own 89.07% of the company, and a director recently purchased 5,000 shares.

Broadstone Net Lease (NYSE:BNL - Get Free Report) had its target price reduced by equities research analysts at Cantor Fitzgerald from $24.00 to $21.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has an "overweight" rating on the stock. Cantor Fitzgerald's target price points to a potential upside of 20.65% from the company's current price.

Other equities analysts have also recently issued research reports about the stock. KeyCorp reaffirmed an "overweight" rating on shares of Broadstone Net Lease in a research note on Tuesday, September 15th. Truist Financial raised shares of Broadstone Net Lease from a "hold" rating to a "buy" rating and cut their target price for the company from $22.00 to $21.00 in a research note on Thursday, October 1st. The Goldman Sachs Group increased their target price on shares of Broadstone Net Lease from $23.00 to $26.00 and gave the company a "buy" rating in a research note on Saturday, August 1st. BMO Capital Markets raised their target price on shares of Broadstone Net Lease from $24.00 to $26.00 and gave the stock an "outperform" rating in a report on Friday, July 10th. Finally, Weiss Ratings lowered shares of Broadstone Net Lease from a "buy (b)" rating to a "buy (b-)" rating in a research report on Thursday, October 8th. Eight research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $22.33.

Broadstone Net Lease Stock Up 3.2%

Shares of BNL stock opened at $17.41 on Friday. The stock has a 50-day simple moving average of $19.22 and a 200 day simple moving average of $19.86. Broadstone Net Lease has a fifty-two week low of $16.70 and a fifty-two week high of $23.10. The stock has a market capitalization of $3.34 billion, a P/E ratio of 22.90 and a beta of 0.91.

Broadstone Net Lease (NYSE:BNL - Get Free Report) last issued its quarterly earnings results on Wednesday, October 28th. The company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.02). Broadstone Net Lease had a return on equity of 4.85% and a net margin of 30.26%. The business had revenue of $121.87 million during the quarter, compared to the consensus estimate of $122.19 million. On average, sell-side analysts anticipate that Broadstone Net Lease will post 1.51 earnings per share for the current year.

Insider Buying and Selling at Broadstone Net Lease

In related news, Director Richard Imperiale purchased 5,000 shares of the company's stock in a transaction that occurred on Thursday, August 20th. The shares were purchased at an average price of $21.22 per share, with a total value of $106,100.00. Following the purchase, the director owned 26,250 shares of the company's stock, valued at $557,025. This trade represents a 23.53% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. 1.02% of the stock is owned by company insiders.

Institutional Trading of Broadstone Net Lease

A number of hedge funds have recently bought and sold shares of BNL. Signature Equity Partners LLC lifted its holdings in shares of Broadstone Net Lease by 3,743.4% in the third quarter. Signature Equity Partners LLC now owns 2,037 shares of the company's stock valued at $38,000 after purchasing an additional 1,984 shares in the last quarter. Vise Technologies Inc. purchased a new position in shares of Broadstone Net Lease during the third quarter valued at $1,075,000. VIRGINIA RETIREMENT SYSTEMS ET Al grew its holdings in shares of Broadstone Net Lease by 192.8% during the third quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 184,834 shares of the company's stock valued at $3,419,000 after buying an additional 121,700 shares in the last quarter. D.A. Davidson & CO. grew its holdings in shares of Broadstone Net Lease by 3.7% during the third quarter. D.A. Davidson & CO. now owns 158,808 shares of the company's stock valued at $2,938,000 after buying an additional 5,640 shares in the last quarter. Finally, Asset Management One Co. Ltd. grew its holdings in shares of Broadstone Net Lease by 6.2% during the third quarter. Asset Management One Co. Ltd. now owns 380,868 shares of the company's stock valued at $7,046,000 after buying an additional 22,363 shares in the last quarter. 89.07% of the stock is owned by hedge funds and other institutional investors.

About Broadstone Net Lease

Broadstone Net Lease, Inc NYSE: BNL is a real estate investment trust (REIT) that owns and manages a diversified portfolio of primarily single-tenant commercial properties. The company generally leases its properties under long-term, triple-net agreements, under which tenants are typically responsible for property taxes, insurance and maintenance expenses.

Broadstone's portfolio includes properties used by healthcare providers, industrial and manufacturing companies, office-based businesses, restaurants and retail operators.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.