Broadstone Net Lease (NYSE:BNL) Upgraded by Wall Street Zen to "Hold" Rating

Key Points

• Broadstone Net Lease (NYSE:BNL) received an upgrade from a "sell" rating to a "hold" rating by Wall Street Zen, reflecting a more stable outlook for the stock.
• Several research firms, including Cantor Fitzgerald and BTIG Research, have set target prices for BNL, with estimates ranging from $19.00 to $22.00, indicating a general optimism among analysts about its future performance.
• Broadstone Net Lease has experienced a recent stock performance increase, trading at $18.68, with a 12-month low of $13.96 and a high of $18.85, showcasing its volatility.

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

A number of other research firms have also commented on BNL. Cantor Fitzgerald assumed coverage on Broadstone Net Lease in a research report on Wednesday. They set an "overweight" rating and a $21.00 price target on the stock. BTIG Research restated a "buy" rating and issued a $22.00 target price on shares of Broadstone Net Lease in a research note on Wednesday. Wolfe Research upgraded 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. KeyCorp upgraded shares of Broadstone Net Lease from a "sector weight" rating to an "overweight" rating and set a $20.00 price objective for the company in a research report on Tuesday, August 19th. Finally, Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Broadstone Net Lease in a research note on Saturday, September 27th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $19.89.

Broadstone Net Lease Stock Performance

Broadstone Net Lease stock traded up $0.30 during trading hours on Friday, hitting $18.68. 2,107,869 shares of the stock were exchanged, compared to its average volume of 1,530,122. Broadstone Net Lease has a 12 month low of $13.96 and a 12 month high of $18.85. The business's 50-day moving average is $17.74 and its two-hundred day moving average is $16.66. The stock has a market capitalization of $3.53 billion, a P/E ratio of 35.92 and a beta of 1.00.

Institutional Investors Weigh In On Broadstone Net Lease

Institutional investors have recently made changes to their positions in the stock. Evermay Wealth Management LLC grew its position in shares of Broadstone Net Lease by 1.4% in the 2nd quarter. Evermay Wealth Management LLC now owns 47,560 shares of the company's stock valued at $766,000 after purchasing an additional 656 shares during the period. American Century Companies Inc. boosted its holdings in shares of Broadstone Net Lease by 0.9% in the second quarter. American Century Companies Inc. now owns 77,865 shares of the company's stock valued at $1,250,000 after buying an additional 664 shares during the period. Ritholtz Wealth Management increased its position in shares of Broadstone Net Lease by 2.8% during the first quarter. Ritholtz Wealth Management now owns 24,939 shares of the company's stock worth $425,000 after acquiring an additional 673 shares in the last quarter. Xponance Inc. raised its holdings in shares of Broadstone Net Lease by 5.3% during the first quarter. Xponance Inc. now owns 14,298 shares of the company's stock worth $244,000 after acquiring an additional 721 shares during the period. Finally, Lazard Asset Management LLC lifted its position in Broadstone Net Lease by 0.9% in the 2nd quarter. Lazard Asset Management LLC now owns 89,265 shares of the company's stock valued at $1,432,000 after acquiring an additional 768 shares in the last quarter. 89.07% of the stock is owned by institutional investors and hedge funds.

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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