Broadstone Net Lease (NYSE:BNL) Price Target Lowered to $22.00 at Truist Financial

Broadstone Net Lease (NYSE:BNLGet Rating) had its price objective dropped by investment analysts at Truist Financial from $25.00 to $22.00 in a research report issued to clients and investors on Tuesday, The Fly reports. Truist Financial’s price target points to a potential upside of 9.07% from the company’s current price.

Separately, The Goldman Sachs Group cut their price target on Broadstone Net Lease from $25.00 to $22.00 and set a “neutral” rating for the company in a research note on Wednesday, June 15th.

Shares of NYSE BNL opened at $20.17 on Tuesday. The business’s 50 day moving average price is $20.83 and its 200-day moving average price is $22.12. Broadstone Net Lease has a fifty-two week low of $18.96 and a fifty-two week high of $28.00. The company has a market cap of $3.41 billion, a price-to-earnings ratio of 30.10 and a beta of 1.06.

Broadstone Net Lease (NYSE:BNLGet Rating) last released its quarterly earnings data on Tuesday, May 3rd. The company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.15 by $0.01. Broadstone Net Lease had a return on equity of 3.86% and a net margin of 27.15%. During the same quarter in the prior year, the company posted $0.31 EPS. Research analysts expect that Broadstone Net Lease will post 1.46 EPS for the current year.

A number of institutional investors have recently bought and sold shares of BNL. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Broadstone Net Lease during the first quarter worth about $35,000. First Mercantile Trust Co. acquired a new stake in shares of Broadstone Net Lease during the 3rd quarter valued at approximately $152,000. Bridgefront Capital LLC acquired a new stake in shares of Broadstone Net Lease during the 4th quarter valued at approximately $203,000. Integrated Wealth Concepts LLC acquired a new position in shares of Broadstone Net Lease during the 1st quarter worth approximately $203,000. Finally, Neuberger Berman Group LLC acquired a new position in shares of Broadstone Net Lease during the 3rd quarter worth approximately $205,000. Institutional investors own 78.66% of the company’s stock.

About Broadstone Net Lease (Get Rating)

BNL is an internally-managed 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. The Company utilizes an investment strategy underpinned by strong fundamental credit analysis and prudent real estate underwriting.

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