UBS Group Issues Pessimistic Forecast for Broadstone Net Lease (NYSE:BNL) Stock Price

Broadstone Net Lease (NYSE:BNL - Get Free Report) had its price target dropped by stock analysts at UBS Group from $17.00 to $16.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has a "neutral" rating on the stock. UBS Group's price target indicates a potential upside of 1.43% from the stock's current price.

Several other research firms have also weighed in on BNL. BMO Capital Markets set a $20.00 price target on shares of Broadstone Net Lease and gave the company an "outperform" rating in a research report on Monday, March 24th. JMP Securities reiterated a "market outperform" rating and set a $21.00 target price on shares of Broadstone Net Lease in a research report on Monday, June 2nd. Finally, Truist Financial increased their price target on shares of Broadstone Net Lease from $17.00 to $18.00 and gave the stock a "hold" rating in a report on Monday, May 5th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Broadstone Net Lease has an average rating of "Moderate Buy" and an average target price of $18.50.

Broadstone Net Lease Stock Up 0.2%

BNL traded up $0.03 during trading on Wednesday, hitting $15.78. 406,060 shares of the company traded hands, compared to its average volume of 1,290,063. The firm has a market cap of $2.98 billion, a P/E ratio of 25.86 and a beta of 1.00. The stock's fifty day moving average is $16.07 and its 200 day moving average is $16.08. Broadstone Net Lease has a one year low of $13.96 and a one year high of $19.15.

Institutional Investors Weigh In On Broadstone Net Lease

Institutional investors and hedge funds have recently bought and sold shares of the stock. Rockefeller Capital Management L.P. raised its stake in Broadstone Net Lease by 3.9% in 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 in the last quarter. Lazard Asset Management LLC lifted its holdings in shares of Broadstone Net Lease by 34.1% in the 4th quarter. Lazard Asset Management LLC now owns 76,592 shares of the company's stock worth $1,214,000 after acquiring an additional 19,467 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Broadstone Net Lease by 1,466.0% in the first quarter. GAMMA Investing LLC now owns 31,711 shares of the company's stock worth $540,000 after buying an additional 29,686 shares during the period. Meritage Portfolio Management increased its stake in shares of Broadstone Net Lease by 33.9% in the first quarter. Meritage Portfolio Management now owns 386,997 shares of the company's stock worth $6,594,000 after buying an additional 97,892 shares during the period. Finally, KBC Group NV increased its stake in shares of Broadstone Net Lease by 15.1% in the first quarter. KBC Group NV now owns 9,094 shares of the company's stock worth $155,000 after buying an additional 1,193 shares during the period. 89.07% of the stock is owned by hedge funds and other 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.

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