Broadstone Net Lease, Inc. (NYSE:BNL) Receives $18.60 Average Target Price from Analysts

Shares of Broadstone Net Lease, Inc. (NYSE:BNL) have received an average rating of “Hold” from the eight research firms that are covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation, two have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $18.60.

BNL has been the subject of a number of recent research reports. Citizens Jmp upgraded shares of Broadstone Net Lease from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 17th. UBS Group initiated coverage on shares of Broadstone Net Lease in a research note on Thursday, November 14th. They issued a “neutral” rating and a $18.00 price target for the company. Finally, JMP Securities raised shares of Broadstone Net Lease from a “market perform” rating to an “outperform” rating and set a $21.00 price objective on the stock in a report on Tuesday, December 17th.

Broadstone Net Lease Stock Performance

NYSE BNL opened at $16.17 on Friday. The firm has a 50 day simple moving average of $16.37 and a 200-day simple moving average of $17.40. Broadstone Net Lease has a one year low of $14.20 and a one year high of $19.15. The firm has a market cap of $3.05 billion, a price-to-earnings ratio of 21.27 and a beta of 1.11.

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

Hedge Funds Weigh In On Broadstone Net Lease

A number of institutional investors have recently modified their holdings of BNL. GAMMA Investing LLC increased its holdings in shares of Broadstone Net Lease by 257.5% in the 3rd quarter. GAMMA Investing LLC now owns 1,766 shares of the company’s stock valued at $33,000 after acquiring an additional 1,272 shares during the period. Quarry LP increased its holdings in shares of Broadstone Net Lease by 93.1% in the 2nd quarter. Quarry LP now owns 2,556 shares of the company’s stock valued at $41,000 after acquiring an additional 1,232 shares during the period. Blue Trust Inc. increased its holdings in shares of Broadstone Net Lease by 156.5% in the 3rd quarter. Blue Trust Inc. now owns 3,902 shares of the company’s stock valued at $74,000 after acquiring an additional 2,381 shares during the period. US Bancorp DE increased its holdings in shares of Broadstone Net Lease by 636.6% in the 3rd quarter. US Bancorp DE now owns 3,941 shares of the company’s stock valued at $75,000 after acquiring an additional 3,406 shares during the period. Finally, KBC Group NV increased its holdings in shares of Broadstone Net Lease by 29.4% in the 3rd quarter. KBC Group NV now owns 6,220 shares of the company’s stock valued at $118,000 after acquiring an additional 1,413 shares during the period. 89.07% of the stock is owned by institutional investors and hedge funds.

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.