Weiss Ratings Reiterates "Hold (C+)" Rating for Broadstone Net Lease (NYSE:BNL)

Key Points

• Weiss Ratings has reaffirmed a "Hold (C+)" rating for Broadstone Net Lease (NYSE:BNL), indicating a cautious stance on the stock's performance.
• Analysts have varying perspectives, with one analyst giving a Strong Buy rating while others have assigned Hold and Buy ratings, reflecting a consensus rating of "Moderate Buy" and a target price of $19.89.
• Shares of Broadstone Net Lease traded down 0.7% to $18.43, with the company holding a market capitalization of $3.49 billion.

Broadstone Net Lease (NYSE:BNL - Get Free Report)'s stock had its "hold (c+)" rating reaffirmed by equities researchers at Weiss Ratings in a research report issued on Wednesday,Weiss Ratings reports.

Several other analysts have also recently issued reports on BNL. Wall Street Zen raised shares of Broadstone Net Lease from a "sell" rating to a "hold" rating in a research note on Friday, October 3rd. UBS Group lifted their price target on shares of Broadstone Net Lease from $16.00 to $17.00 and gave the stock a "neutral" rating in a research note on Friday, August 15th. Cantor Fitzgerald initiated coverage on Broadstone Net Lease in a research report on Wednesday, October 1st. They issued an "overweight" rating and a $21.00 target price on the stock. JMP Securities restated a "market outperform" rating and issued a $21.00 target price on shares of Broadstone Net Lease in a research note on Monday, September 29th. Finally, BTIG Research reaffirmed a "buy" rating and set a $22.00 price objective on shares of Broadstone Net Lease in a research report on Wednesday, October 1st. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Broadstone Net Lease currently has a consensus rating of "Moderate Buy" and a consensus target price of $19.89.

Broadstone Net Lease Stock Down 0.7%

Shares of NYSE BNL traded down $0.13 during trading on Wednesday, hitting $18.43. 1,397,997 shares of the company traded hands, compared to its average volume of 1,502,599. Broadstone Net Lease has a 1 year low of $13.96 and a 1 year high of $18.85. The company has a 50-day moving average price of $17.85 and a 200-day moving average price of $16.67. The firm has a market capitalization of $3.49 billion, a P/E ratio of 35.44 and a beta of 1.00.

Institutional Investors Weigh In On Broadstone Net Lease

Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Broadstone Net Lease by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 27,711,994 shares of the company's stock valued at $472,212,000 after acquiring an additional 266,900 shares in the last quarter. State Street Corp lifted its position in shares of Broadstone Net Lease by 2.2% in the 2nd quarter. State Street Corp now owns 8,388,518 shares of the company's stock valued at $136,998,000 after acquiring an additional 178,186 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Broadstone Net Lease by 1.5% in the 2nd quarter. Geode Capital Management LLC now owns 5,104,154 shares of the company's stock valued at $81,929,000 after acquiring an additional 76,531 shares in the last quarter. Alliancebernstein L.P. lifted its position in shares of Broadstone Net Lease by 2.7% in the 2nd quarter. Alliancebernstein L.P. now owns 4,791,006 shares of the company's stock valued at $76,896,000 after acquiring an additional 124,589 shares in the last quarter. Finally, Balyasny Asset Management L.P. lifted its position in shares of Broadstone Net Lease by 213.2% in the 2nd quarter. Balyasny Asset Management L.P. now owns 4,335,166 shares of the company's stock valued at $69,579,000 after acquiring an additional 2,951,207 shares in the last quarter. Hedge funds and other 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.

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