Broadstone Net Lease (NYSE:BNL) Given Market Outperform Rating at JMP Securities

Key Points

• Broadstone Net Lease has been assigned a "market outperform" rating by JMP Securities, with a target price of $21.00, indicating a potential upside of about 16% from its previous close.
• Other analysts have varied ratings on Broadstone, with Wolfe Research upgrading it to "outperform" and setting a $19.00 target, while Wall Street Zen downgraded it to "sell."
• The stock currently has an average rating of "Moderate Buy" with a consensus target price of $19.43, supported by significant institutional interest, as over 89% of shares are held by institutional investors.

Broadstone Net Lease (NYSE:BNL - Get Free Report)'s stock had its "market outperform" rating reissued by research analysts at JMP Securities in a note issued to investors on Monday,Benzinga reports. They currently have a $21.00 price objective on the stock. JMP Securities' price target would suggest a potential upside of 15.99% from the company's previous close.

Other equities analysts have also issued reports about the stock. Wolfe Research upgraded shares of Broadstone Net Lease from a "peer perform" rating to an "outperform" rating and set a $19.00 price objective for the company in a research report on Monday, July 28th. Wall Street Zen lowered Broadstone Net Lease from a "hold" rating to a "sell" rating in a report on Friday, August 22nd. The Goldman Sachs Group raised Broadstone Net Lease from a "sell" rating to a "buy" rating and set a $21.00 price objective for the company in a report on Thursday, August 21st. UBS Group upped their target price on Broadstone Net Lease from $16.00 to $17.00 and gave the stock a "neutral" rating in a research note on Friday, August 15th. Finally, KeyCorp upgraded shares of Broadstone Net Lease from a "sector weight" rating to an "overweight" rating and set a $20.00 target price on the stock in a research report on Tuesday, August 19th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $19.43.

Broadstone Net Lease Trading Up 1.1%

Shares of NYSE BNL opened at $18.11 on Monday. The business has a fifty day simple moving average of $17.51 and a 200 day simple moving average of $16.61. Broadstone Net Lease has a one year low of $13.96 and a one year high of $19.15. The firm has a market capitalization of $3.42 billion, a price-to-earnings ratio of 34.82 and a beta of 1.01.

Institutional Trading of Broadstone Net Lease

Several institutional investors have recently bought and sold shares of the company. Wolff Wiese Magana LLC purchased a new stake in Broadstone Net Lease during the second quarter valued at $45,000. EverSource Wealth Advisors LLC boosted its stake in Broadstone Net Lease by 80.9% during the second 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 period. BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of Broadstone Net Lease during the first quarter valued at approximately $115,000. CWM LLC increased its stake in Broadstone Net Lease by 885.2% in the second quarter. CWM LLC now owns 7,773 shares of the company's stock worth $125,000 after purchasing an additional 6,984 shares during the period. Finally, EMC Capital Management purchased a new stake in Broadstone Net Lease in the 2nd quarter valued at about $127,000. 89.07% of the stock is owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.