Broadstone Net Lease (NYSE:BNL) Earns “Market Outperform” Rating from Citizens Jmp

Broadstone Net Lease (NYSE:BNL)‘s stock had its “market outperform” rating restated by equities research analysts at Citizens Jmp in a research report issued on Tuesday,Benzinga reports. They presently have a $21.00 price objective on the stock. Citizens Jmp’s price objective suggests a potential upside of 20.00% from the company’s current price.

Other equities research analysts also recently issued research reports about the stock. KeyCorp raised shares of Broadstone Net Lease from a “sector weight” rating to an “overweight” rating and set a $20.00 target price on the stock in a research note on Tuesday, August 19th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Broadstone Net Lease in a report on Wednesday, October 8th. Cantor Fitzgerald assumed coverage on shares of Broadstone Net Lease in a research report on Wednesday, October 1st. They issued an “overweight” rating and a $21.00 price objective on the stock. JMP Securities restated a “market outperform” rating and set a $21.00 target price on shares of Broadstone Net Lease in a research report on Monday, September 29th. Finally, BTIG Research reaffirmed a “buy” rating and set a $22.00 target price on shares of Broadstone Net Lease in a research note on Wednesday, October 1st. Eight investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, Broadstone Net Lease currently has an average rating of “Moderate Buy” and an average target price of $20.20.

Broadstone Net Lease Price Performance

NYSE:BNL opened at $17.50 on Tuesday. The firm has a market capitalization of $3.31 billion, a price-to-earnings ratio of 37.23 and a beta of 1.00. The business has a 50 day simple moving average of $18.21 and a 200-day simple moving average of $17.26. Broadstone Net Lease has a 1 year low of $13.96 and a 1 year high of $18.87.

Broadstone Net Lease (NYSE:BNL) last released its earnings results on Wednesday, October 29th. The company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.23). Broadstone Net Lease had a net margin of 20.04% and a return on equity of 2.91%. The company had revenue of $114.17 million for the quarter, compared to the consensus estimate of $111.89 million. Broadstone Net Lease has set its FY 2025 guidance at 1.490-1.500 EPS. As a group, analysts expect that Broadstone Net Lease will post 1.43 earnings per share for the current fiscal year.

Institutional Trading of Broadstone Net Lease

Several institutional investors and hedge funds have recently modified their holdings of the stock. Evermay Wealth Management LLC boosted its holdings in shares of Broadstone Net Lease by 1.4% in the second quarter. Evermay Wealth Management LLC now owns 47,560 shares of the company’s stock valued at $766,000 after purchasing an additional 656 shares during the period. American Century Companies Inc. increased its holdings in Broadstone Net Lease by 0.9% during the 2nd quarter. American Century Companies Inc. now owns 77,865 shares of the company’s stock worth $1,250,000 after purchasing an additional 664 shares during the period. Alps Advisors Inc. raised its position in Broadstone Net Lease by 4.7% during the 3rd quarter. Alps Advisors Inc. now owns 16,574 shares of the company’s stock valued at $296,000 after purchasing an additional 737 shares in the last quarter. Lazard Asset Management LLC lifted its holdings in shares of Broadstone Net Lease by 0.9% in the 2nd quarter. Lazard Asset Management LLC now owns 89,265 shares of the company’s stock worth $1,432,000 after buying an additional 768 shares during the period. Finally, Arizona State Retirement System lifted its holdings in shares of Broadstone Net Lease by 1.4% in the 3rd quarter. Arizona State Retirement System now owns 55,951 shares of the company’s stock worth $1,000,000 after buying an additional 779 shares during the period. 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.