JMP Securities Reaffirms "Market Outperform" Rating for Broadstone Net Lease (NYSE:BNL)

Broadstone Net Lease (NYSE:BNL - Get Free Report)'s stock had its "market outperform" rating reissued by stock analysts at JMP Securities in a research note issued on Monday,Benzinga reports. They presently have a $21.00 target price on the stock. JMP Securities' price objective would indicate a potential upside of 30.83% from the company's previous close.

Separately, BMO Capital Markets set a $20.00 price objective on shares of Broadstone Net Lease and gave the stock an "outperform" rating in a research note on Monday, March 24th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $18.83.

Broadstone Net Lease Stock Down 0.9 %

BNL traded down $0.15 during midday trading on Monday, hitting $16.05. 40,950 shares of the company traded hands, compared to its average volume of 1,168,091. The company's 50-day moving average is $16.38 and its 200 day moving average is $16.49. The firm has a market capitalization of $3.03 billion, a PE ratio of 18.46 and a beta of 1.04. Broadstone Net Lease has a 52 week low of $13.96 and a 52 week high of $19.15.

Broadstone Net Lease (NYSE:BNL - Get Free Report) last issued its quarterly earnings data on Wednesday, February 19th. The company reported $0.36 earnings per share for the quarter, beating analysts' consensus estimates of $0.20 by $0.16. The company had revenue of $112.13 million for the quarter, compared to the consensus estimate of $109.80 million. Broadstone Net Lease had a net margin of 37.62% and a return on equity of 5.10%. On average, sell-side analysts predict that Broadstone Net Lease will post 1.43 earnings per share for the current fiscal year.

Institutional Trading of Broadstone Net Lease

Institutional investors and hedge funds have recently modified their holdings of the company. Ritholtz Wealth Management grew its holdings in Broadstone Net Lease by 2.8% during the 1st quarter. Ritholtz Wealth Management now owns 24,939 shares of the company's stock valued at $425,000 after buying an additional 673 shares in the last quarter. Xponance Inc. raised its position in shares of Broadstone Net Lease by 5.3% during the 1st quarter. Xponance Inc. now owns 14,298 shares of the company's stock valued at $244,000 after buying an additional 721 shares in the last quarter. State of Alaska Department of Revenue increased its stake in Broadstone Net Lease by 1.0% during the fourth quarter. State of Alaska Department of Revenue now owns 90,318 shares of the company's stock worth $1,432,000 after acquiring an additional 882 shares during the last quarter. Rockefeller Capital Management L.P. raised its position in Broadstone Net Lease by 3.9% during the fourth quarter. Rockefeller Capital Management L.P. now owns 23,826 shares of the company's stock valued at $378,000 after purchasing an additional 892 shares during the period. Finally, Corient Private Wealth LLC lifted its position in Broadstone Net Lease by 2.2% in the fourth quarter. Corient Private Wealth LLC now owns 41,892 shares of the company's stock worth $664,000 after buying an additional 907 shares during the last quarter. 89.07% of the stock is currently owned by institutional investors.

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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