Broadstone Net Lease (NYSE:BNL) Earns Overweight Rating from Analysts at Cantor Fitzgerald

Key Points

• Cantor Fitzgerald upgraded Broadstone Net Lease (NYSE:BNL) to a "strong-buy" rating, indicating a positive outlook for the stock.
• The stock currently has a consensus rating of "Buy" with an average target price of $19.89, supported by multiple ratings from various analysts.
• Broadstone Net Lease's stock price increased by 2.9% to $18.39 on Wednesday, reflecting growing investor interest.

Research analysts at Cantor Fitzgerald began coverage on shares of Broadstone Net Lease (NYSE:BNL - Get Free Report) in a research report issued on Wednesday, MarketBeat Ratings reports. The firm set an "overweight" rating and a $21.00 price target on the stock. Cantor Fitzgerald's price target points to a potential upside of 14.22% from the company's previous close.

A number of other analysts also recently commented on BNL. UBS Group increased their price objective on shares of Broadstone Net Lease from $16.00 to $17.00 and gave the company a "neutral" rating in a report on Friday, August 15th. Wall Street Zen lowered Broadstone Net Lease from a "hold" rating to a "sell" rating in a research report on Friday, August 22nd. Wolfe Research upgraded Broadstone Net Lease from a "peer perform" rating to an "outperform" rating and set a $19.00 price objective on the stock in a research report on Monday, July 28th. KeyCorp raised Broadstone Net Lease from a "sector weight" rating to an "overweight" rating and set a $20.00 price objective on the stock in a research note on Tuesday, August 19th. Finally, BTIG Research reaffirmed a "buy" rating and issued a $22.00 target price on shares of Broadstone Net Lease in a research note on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $19.89.

Broadstone Net Lease Stock Up 2.9%

Shares of NYSE BNL opened at $18.39 on Wednesday. The firm has a 50-day simple moving average of $17.64 and a 200-day simple moving average of $16.64. The stock has a market capitalization of $3.48 billion, a price-to-earnings ratio of 35.36 and a beta of 1.00. Broadstone Net Lease has a 52 week low of $13.96 and a 52 week high of $18.85.

Institutional Trading of Broadstone Net Lease

Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in Broadstone Net Lease by 1.0% during the first quarter. Vanguard Group Inc. now owns 27,711,994 shares of the company's stock worth $472,212,000 after purchasing an additional 266,900 shares in the last quarter. State Street Corp raised its holdings in shares of Broadstone Net Lease by 2.2% in the 2nd quarter. State Street Corp now owns 8,388,518 shares of the company's stock valued at $136,998,000 after buying an additional 178,186 shares during the period. Geode Capital Management LLC lifted its stake in Broadstone Net Lease by 1.5% during the 2nd quarter. Geode Capital Management LLC now owns 5,104,154 shares of the company's stock worth $81,929,000 after acquiring an additional 76,531 shares in the last quarter. Alliancebernstein L.P. boosted its holdings in Broadstone Net Lease by 2.7% during the 2nd quarter. Alliancebernstein L.P. now owns 4,791,006 shares of the company's stock valued at $76,896,000 after acquiring an additional 124,589 shares during the period. Finally, Balyasny Asset Management L.P. grew its position in Broadstone Net Lease by 213.2% in the 2nd quarter. Balyasny Asset Management L.P. now owns 4,335,166 shares of the company's stock valued at $69,579,000 after acquiring an additional 2,951,207 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.