Broadstone Net Lease (NYSE:BNL) Upgraded at Citizens Jmp

Broadstone Net Lease (NYSE:BNL) was upgraded by equities research analysts at Citizens Jmp from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

BNL has been the topic of several other reports. UBS Group initiated coverage on Broadstone Net Lease in a report on Thursday, November 14th. They issued a “neutral” rating and a $18.00 target price on the stock. The Goldman Sachs Group boosted their target price on shares of Broadstone Net Lease from $14.50 to $16.00 and gave the company a “sell” rating in a research note on Friday, September 13th. Wedbush assumed coverage on shares of Broadstone Net Lease in a research note on Monday, August 19th. They issued an “outperform” rating and a $20.00 price objective on the stock. Finally, JMP Securities raised Broadstone Net Lease from a “market perform” rating to an “outperform” rating and set a $21.00 target price on the stock in a report on Tuesday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $18.60.

Broadstone Net Lease Stock Down 3.6 %

Shares of BNL stock opened at $16.16 on Tuesday. The stock has a fifty day moving average of $17.54 and a 200 day moving average of $17.35. Broadstone Net Lease has a 52 week low of $14.20 and a 52 week high of $19.15. The firm has a market capitalization of $3.05 billion, a price-to-earnings ratio of 21.26 and a beta of 1.10.

Broadstone Net Lease (NYSE:BNL) last released its earnings results on Wednesday, October 30th. The company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $108.40 million during the quarter, compared to analysts’ expectations of $106.47 million. During the same quarter in the previous year, the business earned $0.36 EPS. Equities research analysts anticipate that Broadstone Net Lease will post 1.39 earnings per share for the current year.

Institutional Investors Weigh In On Broadstone Net Lease

A number of hedge funds have recently bought and sold shares of the business. Bank of New York Mellon Corp lifted its stake in Broadstone Net Lease by 3.2% in 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. Legato Capital Management LLC purchased a new position in Broadstone Net Lease in the second quarter valued at about $1,404,000. HB Wealth Management LLC raised its stake in shares of Broadstone Net Lease by 4.8% during the 2nd quarter. HB Wealth Management LLC now owns 21,178 shares of the company’s stock worth $336,000 after acquiring an additional 967 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of Broadstone Net Lease by 3.5% during the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 34,455 shares of the company’s stock worth $547,000 after purchasing an additional 1,163 shares in the last quarter. Finally, Van ECK Associates Corp increased its position in Broadstone Net Lease by 7.0% during the 2nd quarter. Van ECK Associates Corp now owns 28,861 shares of the company’s stock valued at $458,000 after buying an additional 1,894 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.