Broadstone Net Lease (NYSE:BNL) Earns Sector Weight Rating from Analysts at KeyCorp

Research analysts at KeyCorp started coverage on shares of Broadstone Net Lease (NYSE:BNLGet Free Report) in a report issued on Wednesday, Marketbeat Ratings reports. The brokerage set a “sector weight” rating on the stock.

A number of other brokerages have also issued reports on BNL. Truist Financial dropped their price objective on shares of Broadstone Net Lease from $18.00 to $17.00 and set a “hold” rating for the company in a report on Tuesday, February 27th. TheStreet lowered shares of Broadstone Net Lease from a “b-” rating to a “c+” rating in a research report on Thursday, February 22nd. Wolfe Research reiterated a “peer perform” rating on shares of Broadstone Net Lease in a research report on Tuesday, April 9th. Finally, The Goldman Sachs Group assumed coverage on Broadstone Net Lease in a research report on Thursday, March 7th. They issued a “sell” rating and a $14.00 target price on the stock. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. According to MarketBeat, Broadstone Net Lease presently has a consensus rating of “Hold” and a consensus target price of $16.75.

Read Our Latest Analysis on BNL

Broadstone Net Lease Trading Up 0.8 %

Shares of BNL opened at $15.45 on Wednesday. The stock’s 50 day moving average is $15.02 and its two-hundred day moving average is $15.69. Broadstone Net Lease has a 12 month low of $13.68 and a 12 month high of $17.59. The firm has a market cap of $2.91 billion, a P/E ratio of 16.09 and a beta of 1.10.

Broadstone Net Lease (NYSE:BNLGet Free Report) last released its earnings results on Wednesday, May 1st. The company reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.01. Broadstone Net Lease had a net margin of 42.23% and a return on equity of 5.60%. The business had revenue of $105.37 million during the quarter, compared to analyst estimates of $107.76 million. During the same quarter in the prior year, the firm earned $0.34 earnings per share. Equities research analysts forecast that Broadstone Net Lease will post 1.38 EPS for the current year.

Hedge Funds Weigh In On Broadstone Net Lease

Several large investors have recently bought and sold shares of BNL. Principal Securities Inc. purchased a new stake in shares of Broadstone Net Lease during the 4th quarter worth approximately $32,000. Federated Hermes Inc. acquired a new stake in shares of Broadstone Net Lease during the fourth quarter worth about $49,000. Covestor Ltd lifted its holdings in shares of Broadstone Net Lease by 123.1% in the 3rd quarter. Covestor Ltd now owns 5,167 shares of the company’s stock valued at $74,000 after purchasing an additional 2,851 shares during the last quarter. Tennessee Valley Asset Management Partners acquired a new stake in shares of Broadstone Net Lease in the 4th quarter valued at about $86,000. Finally, Evergreen Capital Management LLC purchased a new position in Broadstone Net Lease during the 3rd quarter worth approximately $147,000. Hedge funds and other institutional investors own 89.07% of the company’s stock.

About Broadstone Net Lease

(Get Free Report)

BNL is an industrial-focused, diversified net lease REIT that acquires, owns, and manages primarily single-tenant commercial real estate properties that are net leased on a long-term basis to a diversified group of tenants. Utilizing an investment strategy underpinned by strong fundamental credit analysis and prudent real estate underwriting, as of September 30, 2023, BNL's diversified portfolio consisted of 800 individual net leased commercial properties with 793 properties located in 44 U.S.

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Analyst Recommendations for Broadstone Net Lease (NYSE:BNL)

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