Broadstone Net Lease (NYSE:BNL) Raised to Outperform at JMP Securities

Broadstone Net Lease (NYSE:BNL - Get Free Report) was upgraded by research analysts at JMP Securities from a "market perform" rating to an "outperform" rating in a research note issued to investors on Tuesday, MarketBeat.com reports. The brokerage currently has a $21.00 price objective on the stock. JMP Securities' price objective would suggest a potential upside of 25.19% from the company's current price.

BNL has been the topic of a number of other reports. The Goldman Sachs Group raised their price target on shares of Broadstone Net Lease from $14.50 to $16.00 and gave the stock a "sell" rating in a research report on Friday, September 13th. Wedbush assumed coverage on Broadstone Net Lease in a research report on Monday, August 19th. They set an "outperform" rating and a $20.00 price target on the stock. Finally, UBS Group started coverage on Broadstone Net Lease in a report on Thursday, November 14th. They issued a "neutral" rating and a $18.00 price objective for the company. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Broadstone Net Lease presently has a consensus rating of "Hold" and an average target price of $18.67.

Broadstone Net Lease Price Performance

Shares of Broadstone Net Lease stock traded down $0.12 on Tuesday, hitting $16.78. The company had a trading volume of 1,219,826 shares, compared to its average volume of 1,144,554. The stock has a 50-day moving average of $17.61 and a 200-day moving average of $17.34. The firm has a market capitalization of $3.16 billion, a P/E ratio of 22.36 and a beta of 1.10. Broadstone Net Lease has a twelve month low of $14.20 and a twelve month high of $19.15.

Broadstone Net Lease (NYSE:BNL - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.19 EPS for the quarter, missing analysts' consensus estimates of $0.34 by ($0.15). The firm had revenue of $108.40 million during the quarter, compared to the consensus estimate of $106.47 million. Broadstone Net Lease had a net margin of 33.56% and a return on equity of 4.47%. During the same period last year, the business earned $0.36 EPS. Equities analysts predict that Broadstone Net Lease will post 1.39 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Geode Capital Management LLC lifted its holdings in Broadstone Net Lease by 1.3% in the third quarter. Geode Capital Management LLC now owns 4,844,943 shares of the company's stock valued at $91,827,000 after buying an additional 62,515 shares during the period. Millennium Management LLC boosted its holdings in Broadstone Net Lease by 709.4% during the 2nd quarter. Millennium Management LLC now owns 3,177,459 shares of the company's stock worth $50,426,000 after acquiring an additional 2,784,878 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Broadstone Net Lease by 3.2% during the second quarter. Bank of New York Mellon Corp now owns 1,767,296 shares of the company's stock worth $28,047,000 after purchasing an additional 54,885 shares during the last quarter. Victory Capital Management Inc. increased its stake in Broadstone Net Lease by 35.5% in the 3rd quarter. Victory Capital Management Inc. now owns 1,454,507 shares of the company's stock valued at $27,563,000 after buying an additional 380,772 shares during the last quarter. Finally, Brookfield Corp ON bought a new position in shares of Broadstone Net Lease during the 3rd quarter worth approximately $18,444,000. 89.07% of the stock is currently 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.