Broadstone Net Lease (NYSE:BNL) Stock Rating Lowered by Wall Street Zen

Key Points

• Broadstone Net Lease's stock rating has been downgraded from "hold" to "sell" by Wall Street Zen in a recent research report.
• Despite the downgrade, other brokerages continue to show support with target price upgrades, including a "buy" rating with a $21.00 target from Goldman Sachs.
• The company's current stock price is around $18.23, with analysts maintaining an average rating of "Moderate Buy" and a price target of $19.43.

Broadstone Net Lease (NYSE:BNL - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued to clients and investors on Friday.

A number of other brokerages also recently commented on BNL. JMP Securities restated a "market outperform" rating and set a $21.00 target price on shares of Broadstone Net Lease in a report on Monday, June 2nd. KeyCorp upgraded Broadstone Net Lease from a "sector weight" rating to an "overweight" rating and set a $20.00 target price for the company in a report on Tuesday. Truist Financial upped their target price on Broadstone Net Lease from $17.00 to $18.00 and gave the company a "hold" rating in a report on Monday, May 5th. The Goldman Sachs Group upgraded Broadstone Net Lease from a "sell" rating to a "buy" rating and set a $21.00 target price for the company in a report on Thursday. Finally, Wolfe Research upgraded Broadstone Net Lease from a "peer perform" rating to an "outperform" rating and set a $19.00 target price for the company in a report on Monday, July 28th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, Broadstone Net Lease currently has an average rating of "Moderate Buy" and an average price target of $19.43.

Broadstone Net Lease Stock Up 2.4%

Shares of Broadstone Net Lease stock opened at $18.2280 on Friday. The company has a market cap of $3.45 billion, a PE ratio of 35.05 and a beta of 1.00. The business has a 50 day moving average of $16.34 and a 200 day moving average of $16.22. Broadstone Net Lease has a 52 week low of $13.96 and a 52 week high of $19.15.

Institutional Investors Weigh In On Broadstone Net Lease

A number of institutional investors have recently modified their holdings of BNL. Wolff Wiese Magana LLC purchased a new stake in shares of Broadstone Net Lease in the second quarter worth $45,000. Tower Research Capital LLC TRC grew its stake in shares of Broadstone Net Lease by 192.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,914 shares of the company's stock worth $46,000 after acquiring an additional 1,918 shares during the last quarter. GF Fund Management CO. LTD. purchased a new stake in shares of Broadstone Net Lease in the fourth quarter worth $54,000. Quarry LP purchased a new stake in shares of Broadstone Net Lease in the fourth quarter worth $57,000. Finally, EverSource Wealth Advisors LLC grew its stake in shares of Broadstone Net Lease by 80.9% in the second quarter. EverSource Wealth Advisors LLC now owns 4,261 shares of the company's stock worth $68,000 after acquiring an additional 1,906 shares during 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 (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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