Broadstone Net Lease (NYSE:BNL) Rating Increased to Overweight at KeyCorp

Key Points

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Broadstone Net Lease (NYSE:BNL - Get Free Report) was upgraded by research analysts at KeyCorp from a "sector weight" rating to an "overweight" rating in a note issued to investors on Tuesday, Marketbeat reports. The brokerage currently has a $20.00 price objective on the stock. KeyCorp's price objective would indicate a potential upside of 9.72% from the company's current price.

A number of other research analysts have also issued reports on BNL. UBS Group raised their target price on shares of Broadstone Net Lease from $16.00 to $17.00 and gave the company a "neutral" rating in a research note on Friday, August 15th. Truist Financial raised their target price on shares of Broadstone Net Lease from $17.00 to $18.00 and gave the company a "hold" rating in a research note on Monday, May 5th. JMP Securities reiterated a "market outperform" rating and issued a $21.00 target price on shares of Broadstone Net Lease in a research note on Monday, June 2nd. Wolfe Research raised shares of Broadstone Net Lease from a "peer perform" rating to an "outperform" rating and set a $19.00 price target for the company in a report on Monday, July 28th. Finally, Wall Street Zen raised shares of Broadstone Net Lease from a "sell" rating to a "hold" rating in a report on Sunday, August 3rd. One research 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, the company currently has an average rating of "Moderate Buy" and an average price target of $19.43.

Broadstone Net Lease Price Performance

NYSE:BNL traded up $0.4280 during midday trading on Tuesday, reaching $18.2280. The stock had a trading volume of 3,932,225 shares, compared to its average volume of 1,624,729. Broadstone Net Lease has a 1-year low of $13.96 and a 1-year high of $19.15. The firm's fifty day simple moving average is $16.34 and its 200-day simple moving average is $16.22. The stock has a market capitalization of $3.45 billion, a P/E ratio of 35.05 and a beta of 1.00.

Hedge Funds Weigh In On Broadstone Net Lease

Hedge funds and other institutional investors have recently made changes to their positions in the business. Wolff Wiese Magana LLC bought a new position in shares of Broadstone Net Lease during the 2nd quarter worth about $45,000. Tower Research Capital LLC TRC lifted its holdings in shares of Broadstone Net Lease by 192.6% during the 4th 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 period. GF Fund Management CO. LTD. bought a new position in shares of Broadstone Net Lease during the 4th quarter worth about $54,000. Quarry LP bought a new position in shares of Broadstone Net Lease during the 4th quarter worth about $57,000. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Broadstone Net Lease by 80.9% during the 2nd 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 period. 89.07% of the stock is owned by 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.