Broadstone Net Lease (NYSE:BNL) Given New $21.00 Price Target at BTIG Research

by · The Cerbat Gem

Broadstone Net Lease (NYSE:BNL – Get Free Report) had its price objective dropped by analysts at BTIG Research from $22.00 to $21.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. BTIG Research’s price objective would indicate a potential upside of 19.69% from the stock’s previous close.

Other research analysts have also issued reports about the company. The Goldman Sachs Group raised Broadstone Net Lease from a “sell” rating to a “buy” rating and set a $21.00 target price on the stock in a research report on Thursday, August 21st. Wall Street Zen raised Broadstone Net Lease from a “sell” rating to a “hold” rating in a report on Sunday, November 30th. BMO Capital Markets restated an “outperform” rating on shares of Broadstone Net Lease in a report on Thursday. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Broadstone Net Lease in a research report on Wednesday, October 8th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Broadstone Net Lease in a research note on Thursday. Eight equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $20.10.

Read Our Latest Analysis on Broadstone Net Lease

Broadstone Net Lease Stock Up 0.1%

NYSE:BNL opened at $17.55 on Friday. The stock has a market capitalization of $3.32 billion, a price-to-earnings ratio of 37.33 and a beta of 1.03. Broadstone Net Lease has a 52 week low of $13.96 and a 52 week high of $18.87. The firm has a 50 day moving average of $18.17 and a 200 day moving average of $17.28.

Broadstone Net Lease (NYSE:BNL – Get Free Report) last released its quarterly earnings results on Wednesday, October 29th. The company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.23). Broadstone Net Lease had a return on equity of 2.93% and a net margin of 20.04%.The firm had revenue of $114.17 million during the quarter, compared to analysts’ expectations 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 EPS for the current year.

Hedge Funds Weigh In On Broadstone Net Lease

Several hedge funds and other institutional investors have recently bought and sold shares of BNL. Cambria Investment Management L.P. boosted its holdings in shares of Broadstone Net Lease by 15.6% in the 3rd quarter. Cambria Investment Management L.P. now owns 36,667 shares of the company’s stock valued at $655,000 after acquiring an additional 4,955 shares during the last quarter. Strategic Advocates LLC purchased a new position in Broadstone Net Lease during the third quarter worth approximately $30,000. CIBC Bancorp USA Inc. purchased a new position in shares of Broadstone Net Lease during the 3rd quarter valued at approximately $362,000. Advisory Services Network LLC acquired a new stake in shares of Broadstone Net Lease in the third quarter valued at about $61,000. Finally, CANADA LIFE ASSURANCE Co boosted its holdings in Broadstone Net Lease by 4.5% in the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 312,228 shares of the company’s stock worth $5,573,000 after buying an additional 13,552 shares during the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

About Broadstone Net Lease

(Get Free Report)

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.

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