Analysts Set Broadstone Net Lease, Inc. (NYSE:BNL) Price Target at $19.91

Shares of Broadstone Net Lease, Inc. (NYSE:BNL) have earned a consensus rating of “Moderate Buy” from the twelve analysts that are presently covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $19.9091.

BNL has been the topic of several recent analyst reports. Wall Street Zen raised shares of Broadstone Net Lease from a “sell” rating to a “hold” rating in a research report on Saturday, January 17th. BTIG Research dropped their target price on shares of Broadstone Net Lease from $22.00 to $21.00 and set a “buy” rating on the stock in a research note on Friday, December 5th. Morgan Stanley raised their price target on shares of Broadstone Net Lease from $18.00 to $19.00 and gave the company a “positive” rating in a research report on Monday, December 29th. BMO Capital Markets restated an “outperform” rating on shares of Broadstone Net Lease in a report on Thursday, December 4th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Broadstone Net Lease in a research report on Wednesday, January 21st.

Institutional Investors Weigh In On Broadstone Net Lease

Several institutional investors have recently modified their holdings of BNL. CIBC Private Wealth Group LLC raised its position in Broadstone Net Lease by 42.9% in the 4th quarter. CIBC Private Wealth Group LLC now owns 2,000 shares of the company’s stock worth $35,000 after buying an additional 600 shares during the last quarter. Evermay Wealth Management LLC grew its stake 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 worth $766,000 after acquiring an additional 656 shares during the period. American Century Companies Inc. raised its holdings in shares of Broadstone Net Lease by 0.9% during the second quarter. American Century Companies Inc. now owns 77,865 shares of the company’s stock valued at $1,250,000 after purchasing an additional 664 shares during the last quarter. Alps Advisors Inc. raised its holdings in shares of Broadstone Net Lease by 4.7% during the third quarter. Alps Advisors Inc. now owns 16,574 shares of the company’s stock valued at $296,000 after purchasing an additional 737 shares during the last quarter. Finally, Lazard Asset Management LLC lifted its position in Broadstone Net Lease by 0.9% during the second quarter. Lazard Asset Management LLC now owns 89,265 shares of the company’s stock valued at $1,432,000 after purchasing an additional 768 shares during the period. 89.07% of the stock is owned by hedge funds and other institutional investors.

Broadstone Net Lease Trading Up 1.5%

NYSE BNL opened at $19.65 on Friday. Broadstone Net Lease has a 12 month low of $13.96 and a 12 month high of $19.77. The stock’s fifty day moving average price is $18.21 and its 200-day moving average price is $18.08. The stock has a market cap of $3.72 billion, a P/E ratio of 41.80 and a beta of 1.00.

Broadstone Net Lease Company Profile

Broadstone Net Lease, Inc (NYSE: BNL) is a publicly traded real estate investment trust focused on owning and operating single-tenant commercial properties under long-term net leases. The company specializes in acquiring properties that are leased to creditworthy tenants, allowing it to generate predictable, stable rental income while transferring most operating expenses and responsibilities to its lessees.

Broadstone Net Lease’s portfolio spans a variety of property types, including industrial facilities, distribution centers, manufacturing plants, life science and office buildings, and essential retail locations.