Broadstone Net Lease (NYSE:BNL) Price Target Raised to $18.00

Broadstone Net Lease (NYSE:BNL - Get Free Report) had its price objective increased by research analysts at Truist Financial from $17.00 to $18.00 in a report released on Monday,Benzinga reports. The firm presently has a "hold" rating on the stock. Truist Financial's price target would suggest a potential upside of 11.56% from the company's previous close.

Other analysts have also recently issued reports about the stock. JMP Securities reaffirmed a "market outperform" rating and issued a $21.00 target price on shares of Broadstone Net Lease in a research note on Monday. BMO Capital Markets set a $20.00 price objective on shares of Broadstone Net Lease and gave the company an "outperform" rating in a research report on Monday, March 24th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Broadstone Net Lease has a consensus rating of "Moderate Buy" and a consensus price target of $18.83.

Broadstone Net Lease Price Performance

Shares of BNL stock traded down $0.07 during trading hours on Monday, hitting $16.14. The stock had a trading volume of 333,888 shares, compared to its average volume of 1,169,135. The firm has a market capitalization of $3.05 billion, a PE ratio of 18.54 and a beta of 1.04. Broadstone Net Lease has a twelve month low of $13.96 and a twelve month high of $19.15. The stock's 50 day moving average is $16.38 and its 200 day moving average is $16.49.

Broadstone Net Lease (NYSE:BNL - Get Free Report) last posted its earnings results on Wednesday, February 19th. The company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.16. The company had revenue of $112.13 million for the quarter, compared to analyst estimates of $109.80 million. Broadstone Net Lease had a return on equity of 5.10% and a net margin of 37.62%. As a group, equities analysts predict that Broadstone Net Lease will post 1.43 earnings per share for the current year.

Hedge Funds Weigh In On Broadstone Net Lease

Hedge funds have recently modified their holdings of the company. Rockefeller Capital Management L.P. increased its holdings in shares of Broadstone Net Lease by 3.9% in the 4th quarter. Rockefeller Capital Management L.P. now owns 23,826 shares of the company's stock valued at $378,000 after purchasing an additional 892 shares during the period. Aew Capital Management L P increased its position in Broadstone Net Lease by 2.3% in the 4th quarter. Aew Capital Management L P now owns 3,135,949 shares of the company's stock worth $49,736,000 after purchasing an additional 69,690 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in shares of Broadstone Net Lease by 30.4% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 466,782 shares of the company's stock worth $7,403,000 after purchasing an additional 108,907 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Broadstone Net Lease by 79.0% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 44,955 shares of the company's stock valued at $705,000 after buying an additional 19,839 shares in the last quarter. Finally, Sterling Capital Management LLC increased its holdings in Broadstone Net Lease by 807.5% in the fourth quarter. Sterling Capital Management LLC now owns 5,944 shares of the company's stock worth $94,000 after buying an additional 5,289 shares during the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.

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.

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