Broadstone Net Lease (NYSE:BNL) Downgraded by Wall Street Zen to "Sell"

Key Points

• Wall Street Zen has downgraded Broadstone Net Lease (NYSE: BNL) from a "hold" rating to a "sell" rating, indicating a shift in investor sentiment regarding the stock.
• UBS Group has revised its price target for the stock down from $17.00 to $16.00, while Truist Financial increased their target from $17.00 to $18.00, reflecting mixed analyst opinions on the company.
• Broadstone Net Lease has a current average rating of "Hold" and a consensus target price of $18.50, with institutional investors holding a significant 89.07% stake in the company.

Broadstone Net Lease (NYSE:BNL - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a report issued on Saturday.

Several other analysts have also recently issued reports on the stock. Truist Financial upped their price target on shares of Broadstone Net Lease from $17.00 to $18.00 and gave the company a "hold" rating in a report on Monday, May 5th. JMP Securities reaffirmed a "market outperform" rating and issued a $21.00 price objective on shares of Broadstone Net Lease in a report on Monday, June 2nd. Finally, UBS Group dropped their price objective on shares of Broadstone Net Lease from $17.00 to $16.00 and set a "neutral" rating on the stock in a report on Wednesday, July 16th. Two analysts have rated the stock with a sell rating, two have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Broadstone Net Lease has an average rating of "Hold" and an average price target of $18.57.

Broadstone Net Lease Stock Performance

Shares of BNL stock traded up $0.36 on Friday, hitting $16.13. The stock had a trading volume of 1,175,925 shares, compared to its average volume of 1,178,947. The firm has a market capitalization of $3.05 billion, a price-to-earnings ratio of 26.44 and a beta of 1.00. The stock's 50 day moving average is $16.02 and its 200-day moving average is $16.09. Broadstone Net Lease has a 52-week low of $13.96 and a 52-week high of $19.15.

Hedge Funds Weigh In On Broadstone Net Lease

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BNL. Federated Hermes Inc. raised its position in Broadstone Net Lease by 73,833.3% during 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 in the last quarter. Wolff Wiese Magana LLC bought a new position in Broadstone Net Lease during the second quarter valued at approximately $45,000. Tower Research Capital LLC TRC raised its position in Broadstone Net Lease by 192.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,914 shares of the company's stock valued at $46,000 after acquiring an additional 1,918 shares in the last quarter. GF Fund Management CO. LTD. bought a new position in Broadstone Net Lease during the fourth quarter valued at approximately $54,000. Finally, Quarry LP bought a new position in Broadstone Net Lease during the fourth quarter valued at approximately $57,000. Institutional investors own 89.07% of the company's stock.

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.