Broadstone Net Lease (NYSE:BNL) Price Target Raised to $17.00 at UBS Group

Key Points

• UBS Group raised the price target for Broadstone Net Lease (NYSE:BNL) from $16.00 to $17.00, indicating a potential upside of 2.07% from its current stock price.
• Other brokerages, such as Truist Financial and JMP Securities, have set target prices between $18.00 and $21.00, reflecting a range of sentiments towards the stock's performance.
• The current consensus rating for Broadstone Net Lease is a "Moderate Buy," with an average target price of $18.71, as analysts show mixed ratings with one sell, three holds, four buys, and one strong buy.

Broadstone Net Lease (NYSE:BNL - Get Free Report) had its target price lifted by equities research analysts at UBS Group from $16.00 to $17.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a "neutral" rating on the stock. UBS Group's target price would suggest a potential downside of 2.21% from the company's previous close.

A number of other analysts have also recently issued reports on BNL. Wall Street Zen raised Broadstone Net Lease from a "sell" rating to a "hold" rating in a research note on Sunday, August 3rd. JMP Securities reaffirmed a "market outperform" rating and set a $21.00 price target on shares of Broadstone Net Lease in a research note on Monday, June 2nd. Wolfe Research raised shares of Broadstone Net Lease from a "peer perform" rating to an "outperform" rating and set a $19.00 price target for the company in a research note on Monday, July 28th. Finally, Truist Financial raised their price target on shares of Broadstone Net Lease from $17.00 to $18.00 and gave the stock a "hold" rating in a research note on Monday, May 5th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $18.71.

Broadstone Net Lease Stock Performance

NYSE BNL traded up $0.2750 during trading hours on Friday, reaching $17.3850. 2,009,765 shares of the company's stock were exchanged, compared to its average volume of 1,452,907. The company's 50-day moving average is $16.25 and its two-hundred day moving average is $16.18. Broadstone Net Lease has a one year low of $13.96 and a one year high of $19.15. The company has a market capitalization of $3.29 billion, a price-to-earnings ratio of 33.43 and a beta of 1.00.

Hedge Funds Weigh In On Broadstone Net Lease

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Kestra Investment Management LLC grew its stake in shares of Broadstone Net Lease by 25.0% in the second quarter. Kestra Investment Management LLC now owns 91,714 shares of the company's stock valued at $1,472,000 after buying an additional 18,359 shares in the last quarter. CANADA LIFE ASSURANCE Co grew its stake in shares of Broadstone Net Lease by 9.1% in the second quarter. CANADA LIFE ASSURANCE Co now owns 298,676 shares of the company's stock valued at $4,792,000 after buying an additional 24,851 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in shares of Broadstone Net Lease by 199.4% in the second quarter. Tower Research Capital LLC TRC now owns 22,722 shares of the company's stock valued at $365,000 after buying an additional 15,133 shares in the last quarter. Corient Private Wealth LLC acquired a new stake in Broadstone Net Lease during the 2nd quarter valued at $672,000. Finally, Captrust Financial Advisors lifted its holdings in Broadstone Net Lease by 2.1% during the 2nd quarter. Captrust Financial Advisors now owns 217,688 shares of the company's stock valued at $3,494,000 after purchasing an additional 4,398 shares during the last quarter. 89.07% of the stock is owned by 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.