JMP Securities Reiterates 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 note issued to investors on Tuesday,Benzinga reports. They presently have a $21.00 target price on the stock. JMP Securities' price target would indicate a potential upside of 29.35% from the stock's current price.

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

Broadstone Net Lease Stock Performance

Broadstone Net Lease stock traded up $0.27 on Tuesday, reaching $16.24. The company's stock had a trading volume of 229,282 shares, compared to its average volume of 1,290,528. The business's fifty day moving average price is $16.39 and its 200 day moving average price is $16.56. Broadstone Net Lease has a twelve month low of $13.96 and a twelve month high of $19.15. The company has a market cap of $3.07 billion, a price-to-earnings ratio of 18.65 and a beta of 1.03.

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

Hedge Funds Weigh In On Broadstone Net Lease

A number of hedge funds and other institutional investors have recently made changes to their positions in BNL. Federated Hermes Inc. grew its stake in Broadstone Net Lease by 73,833.3% in the fourth quarter. Federated Hermes Inc. now owns 2,218 shares of the company's stock valued at $35,000 after acquiring an additional 2,215 shares during the period. EverSource Wealth Advisors LLC increased its holdings in Broadstone Net Lease by 139.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 2,735 shares of the company's stock worth $43,000 after purchasing an additional 1,592 shares in the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of Broadstone Net Lease by 192.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,914 shares of the company's stock valued at $46,000 after purchasing an additional 1,918 shares in the last quarter. GF Fund Management CO. LTD. acquired a new position in shares of Broadstone Net Lease during the fourth quarter worth about $54,000. Finally, Quarry LP bought a new position in shares of Broadstone Net Lease during the fourth quarter worth about $57,000. 89.07% of the stock is 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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