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 analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research note issued on Sunday.

Several other equities analysts have also issued reports on BNL. UBS Group lowered 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 report on Wednesday, July 16th. Wolfe Research upgraded shares of 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. JMP Securities reiterated a "market outperform" rating and set a $21.00 target price on shares of Broadstone Net Lease in a report on Monday, June 2nd. Finally, Truist Financial lifted 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. One analyst has rated the stock with a sell rating, three have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $18.57.

Broadstone Net Lease Price Performance

Shares of BNL opened at $16.24 on Friday. Broadstone Net Lease has a one year low of $13.96 and a one year high of $19.15. The company has a 50-day simple moving average of $16.06 and a two-hundred day simple moving average of $16.10. The firm has a market capitalization of $3.07 billion, a PE ratio of 31.23 and a beta of 1.00.

Institutional Investors Weigh In On Broadstone Net Lease

Several institutional investors and hedge funds have recently made changes to their positions in BNL. Norges Bank bought a new stake in shares of Broadstone Net Lease during the fourth quarter valued at approximately $36,170,000. Nuveen LLC bought a new stake in shares of Broadstone Net Lease during the first quarter valued at approximately $28,127,000. Bank of Montreal Can increased its position in shares of Broadstone Net Lease by 603.9% during the fourth quarter. Bank of Montreal Can now owns 1,891,881 shares of the company's stock valued at $30,005,000 after acquiring an additional 1,623,098 shares in the last quarter. Van Lanschot Kempen Investment Management N.V. bought a new stake in shares of Broadstone Net Lease during the first quarter valued at approximately $11,646,000. Finally, Allianz Asset Management GmbH increased its position in shares of Broadstone Net Lease by 87.3% during the first quarter. Allianz Asset Management GmbH now owns 1,288,892 shares of the company's stock valued at $21,963,000 after acquiring an additional 600,633 shares in the last quarter. Institutional investors 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.

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