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

Key Points

• Broadstone Net Lease (NYSE: BNL) received an upgrade from a "sell" rating to a "hold" rating from analysts at Wall Street Zen.
• UBS Group lowered its target price on BNL shares from $17.00 to $16.00, while Wolfe Research set a higher target price of $19.00 after upgrading their rating to "outperform".
• Institutional investors heavily invest in Broadstone Net Lease, with 89.07% of the company's stock owned by these entities, highlighting strong institutional confidence.

Broadstone Net Lease (NYSE:BNL - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a report issued on Sunday.

A number of other brokerages have also recently weighed in on BNL. Truist Financial lifted 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. UBS Group dropped their target price on shares of Broadstone Net Lease from $17.00 to $16.00 and set a "neutral" rating for the company in a research report on Wednesday, July 16th. Wolfe Research raised shares of Broadstone Net Lease from a "peer perform" rating to an "outperform" rating and set a $19.00 price target on the stock in a research report on Monday, July 28th. Finally, JMP Securities reiterated a "market outperform" rating and set a $21.00 price objective on shares of Broadstone Net Lease in a research note on Monday, June 2nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Broadstone Net Lease presently has an average rating of "Moderate Buy" and a consensus target price of $18.57.

Broadstone Net Lease Stock Performance

Broadstone Net Lease stock traded down $0.19 during trading on Friday, reaching $16.70. The company had a trading volume of 361,425 shares, compared to its average volume of 1,459,624. Broadstone Net Lease has a 12-month low of $13.96 and a 12-month high of $19.15. The stock's 50 day moving average price is $16.11 and its two-hundred day moving average price is $16.12. The firm has a market capitalization of $3.16 billion, a price-to-earnings ratio of 32.12 and a beta of 1.00.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Rockefeller Capital Management L.P. boosted its stake in shares of Broadstone Net Lease by 3.9% during the 4th quarter. Rockefeller Capital Management L.P. now owns 23,826 shares of the company's stock valued at $378,000 after buying an additional 892 shares during the last quarter. Lazard Asset Management LLC boosted its stake in Broadstone Net Lease by 34.1% during the 4th quarter. Lazard Asset Management LLC now owns 76,592 shares of the company's stock valued at $1,214,000 after acquiring an additional 19,467 shares during the last quarter. GAMMA Investing LLC grew its holdings 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 worth $540,000 after acquiring 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 worth $6,594,000 after purchasing an additional 97,892 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its stake in shares of Broadstone Net Lease by 20.6% in the 1st quarter. Envestnet Asset Management Inc. now owns 543,987 shares of the company's stock valued at $9,270,000 after purchasing an additional 92,909 shares in the last quarter. Institutional investors and hedge funds own 89.07% of the company's stock.

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.