Broadstone Net Lease (NYSE:BNL) Research Coverage Started at Wedbush

Posted by Defense World Staff on Aug 19th, 2024

Wedbush initiated coverage on shares of Broadstone Net Lease (NYSE:BNL – Get Free Report) in a research note issued on Monday, Briefing.com reports. The brokerage set an “outperform” rating on the stock.

Several other research firms also recently issued reports on BNL. KeyCorp assumed coverage on Broadstone Net Lease in a report on Wednesday, June 12th. They issued a “sector weight” rating on the stock. Truist Financial increased their price target on shares of Broadstone Net Lease from $16.00 to $18.00 and gave the stock a “hold” rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $17.00.

View Our Latest Stock Analysis on Broadstone Net Lease

Broadstone Net Lease Price Performance

NYSE BNL traded up $0.05 during mid-day trading on Monday, hitting $17.60. The stock had a trading volume of 35,056 shares, compared to its average volume of 1,200,998. The firm’s 50 day moving average is $16.56 and its 200 day moving average is $15.64. The stock has a market capitalization of $3.32 billion, a price-to-earnings ratio of 18.33 and a beta of 1.11. Broadstone Net Lease has a twelve month low of $13.68 and a twelve month high of $18.10.

Broadstone Net Lease (NYSE:BNL – Get Free Report) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.15). The company had revenue of $105.91 million during the quarter, compared to analysts’ expectations of $105.95 million. Broadstone Net Lease had a net margin of 36.78% and a return on equity of 4.85%. During the same quarter last year, the company earned $0.35 earnings per share. As a group, equities research analysts expect that Broadstone Net Lease will post 1.39 earnings per share for the current year.

Hedge Funds Weigh In On Broadstone Net Lease

Hedge funds have recently added to or reduced their stakes in the business. Evermay Wealth Management LLC lifted its stake in shares of Broadstone Net Lease by 1.2% during the second quarter. Evermay Wealth Management LLC now owns 48,509 shares of the company’s stock valued at $774,000 after buying an additional 579 shares during the period. Xponance Inc. boosted its holdings in shares of Broadstone Net Lease by 5.1% during the second quarter. Xponance Inc. now owns 11,922 shares of the company’s stock worth $189,000 after purchasing an additional 580 shares during the last quarter. Handelsbanken Fonder AB grew its position in shares of Broadstone Net Lease by 2.4% in the fourth quarter. Handelsbanken Fonder AB now owns 29,900 shares of the company’s stock valued at $515,000 after purchasing an additional 700 shares during the period. Natixis Advisors L.P. increased its stake in Broadstone Net Lease by 1.3% in the fourth quarter. Natixis Advisors L.P. now owns 64,207 shares of the company’s stock valued at $1,105,000 after purchasing an additional 821 shares during the last quarter. Finally, Strategic Advocates LLC lifted its position in Broadstone Net Lease by 4.1% during the second quarter. Strategic Advocates LLC now owns 24,116 shares of the company’s stock worth $383,000 after buying an additional 953 shares during the period. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Broadstone Net Lease Company Profile

(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.