Broadstone Net Lease's (BNL) Peer Perform Rating Reiterated at Wolfe Research

Broadstone Net Lease (NYSE:BNL - Get Free Report)'s stock had its "peer perform" rating reissued by stock analysts at Wolfe Research in a report issued on Tuesday, Marketbeat Ratings reports.

Other equities analysts also recently issued research reports about the company. Truist Financial dropped their price objective on Broadstone Net Lease from $18.00 to $17.00 and set a "hold" rating on the stock in a research note on Tuesday, February 27th. The Goldman Sachs Group initiated coverage on Broadstone Net Lease in a research note on Thursday, March 7th. They issued a "sell" rating and a $14.00 price objective on the stock. JPMorgan Chase & Co. upgraded Broadstone Net Lease from a "neutral" rating to an "overweight" rating and set a $19.00 price objective on the stock in a research note on Monday, December 18th. Finally, TheStreet downgraded Broadstone Net Lease from a "b-" rating to a "c+" rating in a research report on Thursday, February 22nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, Broadstone Net Lease presently has an average rating of "Hold" and a consensus price target of $16.75.

Broadstone Net Lease Trading Up 1.2 %

Shares of BNL stock traded up $0.19 during trading on Tuesday, hitting $15.38. The company's stock had a trading volume of 1,589,904 shares, compared to its average volume of 1,313,979. The company has a market cap of $2.89 billion, a PE ratio of 18.52 and a beta of 1.09. The business has a fifty day moving average of $15.29 and a 200-day moving average of $15.56. Broadstone Net Lease has a 52 week low of $13.68 and a 52 week high of $17.59.

Insiders Place Their Bets

In other Broadstone Net Lease news, CFO Kevin Fennell acquired 4,000 shares of the stock in a transaction that occurred on Monday, February 26th. The shares were bought at an average price of $14.63 per share, for a total transaction of $58,520.00. Following the completion of the transaction, the chief financial officer now owns 63,556 shares of the company's stock, valued at approximately $929,824.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Broadstone Net Lease news, CFO Kevin Fennell acquired 4,000 shares of the company's stock in a transaction that occurred on Monday, February 26th. The stock was bought at an average price of $14.63 per share, with a total value of $58,520.00. Following the completion of the purchase, the chief financial officer now owns 63,556 shares of the company's stock, valued at $929,824.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael A. Coke acquired 10,000 shares of the company's stock in a transaction that occurred on Monday, February 26th. The shares were acquired at an average cost of $14.67 per share, with a total value of $146,700.00. Following the purchase, the director now directly owns 34,817 shares of the company's stock, valued at approximately $510,765.39. The disclosure for this purchase can be found here. Company insiders own 0.81% of the company's stock.

Institutional Investors Weigh In On Broadstone Net Lease

Several large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Broadstone Net Lease by 1.2% during the first quarter. Vanguard Group Inc. now owns 22,942,959 shares of the company's stock worth $499,698,000 after purchasing an additional 269,047 shares during the last quarter. BlackRock Inc. lifted its stake in Broadstone Net Lease by 8.7% during the second quarter. BlackRock Inc. now owns 17,809,717 shares of the company's stock worth $274,982,000 after purchasing an additional 1,423,529 shares during the last quarter. Principal Financial Group Inc. lifted its stake in Broadstone Net Lease by 3.1% during the fourth quarter. Principal Financial Group Inc. now owns 14,904,229 shares of the company's stock worth $256,651,000 after purchasing an additional 448,338 shares during the last quarter. State Street Corp lifted its stake in Broadstone Net Lease by 6.0% during the second quarter. State Street Corp now owns 8,831,473 shares of the company's stock worth $138,766,000 after purchasing an additional 497,297 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its stake in Broadstone Net Lease by 1.1% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,066,020 shares of the company's stock worth $87,237,000 after purchasing an additional 55,833 shares during the last quarter. Institutional investors own 89.07% of the company's stock.

Broadstone Net Lease Company Profile

BNL is an industrial-focused, diversified net lease REIT that acquires, owns, and manages primarily single-tenant commercial real estate properties that are net leased on a long-term basis to a diversified group of tenants. Utilizing an investment strategy underpinned by strong fundamental credit analysis and prudent real estate underwriting, as of September 30, 2023, BNL's diversified portfolio consisted of 800 individual net leased commercial properties with 793 properties located in 44 U.S.