UBS Group Issues Positive Forecast for Broadstone Net Lease (NYSE:BNL) Stock Price

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 price target raised by equities research analysts at UBS Group from $16.00 to $17.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a "neutral" rating on the stock. UBS Group's price objective suggests a potential downside of 0.50% from the stock's current price.

Other equities research analysts have also recently issued research reports about the stock. Wall Street Zen upgraded shares of Broadstone Net Lease from a "sell" rating to a "hold" rating in a report on Sunday, August 3rd. Wolfe Research upgraded 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. Truist Financial upped their target price on shares of Broadstone Net Lease from $17.00 to $18.00 and gave the company a "hold" rating in a report on Monday, May 5th. Finally, JMP Securities reissued a "market outperform" rating and set a $21.00 price objective on shares of Broadstone Net Lease in a research report on Monday, June 2nd. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Broadstone Net Lease currently has a consensus rating of "Moderate Buy" and an average price target of $18.71.

Broadstone Net Lease Stock Performance

Shares of NYSE BNL traded up $0.4850 during trading hours on Friday, hitting $17.0850. The company's stock had a trading volume of 1,379,838 shares, compared to its average volume of 1,394,332. The business has a 50-day simple moving average of $16.25 and a 200-day simple moving average of $16.18. The stock has a market cap of $3.23 billion, a price-to-earnings ratio of 32.86 and a beta of 1.00. Broadstone Net Lease has a 12 month low of $13.96 and a 12 month high of $19.15.

Institutional Trading of Broadstone Net Lease

Several hedge funds and other institutional investors have recently bought and sold shares of BNL. Rockefeller Capital Management L.P. increased its position in shares of Broadstone Net Lease by 3.9% during the fourth quarter. Rockefeller Capital Management L.P. now owns 23,826 shares of the company's stock worth $378,000 after acquiring an additional 892 shares during the period. Lazard Asset Management LLC grew its stake in shares of Broadstone Net Lease by 34.1% during the fourth quarter. Lazard Asset Management LLC now owns 76,592 shares of the company's stock worth $1,214,000 after acquiring an additional 19,467 shares during the last quarter. GAMMA Investing LLC increased its stake in Broadstone Net Lease by 1,466.0% during the 1st quarter. GAMMA Investing LLC now owns 31,711 shares of the company's stock valued at $540,000 after purchasing an additional 29,686 shares in the last quarter. Meritage Portfolio Management increased its position in shares of Broadstone Net Lease by 33.9% in the 1st quarter. Meritage Portfolio Management now owns 386,997 shares of the company's stock valued at $6,594,000 after acquiring an additional 97,892 shares during the period. Finally, Envestnet Asset Management Inc. raised its stake in shares of Broadstone Net Lease by 20.6% in the first quarter. Envestnet Asset Management Inc. now owns 543,987 shares of the company's stock worth $9,270,000 after purchasing an additional 92,909 shares during the last quarter. Hedge funds and other institutional investors own 89.07% of the company's stock.

About Broadstone Net Lease

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.