Broadstone Net Lease (NYSE:BNL) Stock Rating Upgraded by Zacks Investment Research

Broadstone Net Lease (NYSE:BNL – Get Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday, Zacks.com reports.

According to Zacks, “Broadstone Net Lease, Inc. is an internally-managed REIT. It acquires, owns and manages primarily single-tenant commercial real estate properties. The company’s diversified portfolio consist healthcare, restaurant, office and retail property. Broadstone Net Lease, Inc. is based in NY, United States. “

BNL traded up $0.11 during midday trading on Wednesday, reaching $22.57. 409,298 shares of the company’s stock were exchanged, compared to its average volume of 649,379. The firm has a market capitalization of $3.69 billion, a price-to-earnings ratio of 34.20 and a beta of 1.20. Broadstone Net Lease has a one year low of $19.12 and a one year high of $28.00. The business has a 50-day simple moving average of $21.72 and a two-hundred day simple moving average of $23.77.

Broadstone Net Lease (NYSE:BNL – Get Rating) last announced its quarterly earnings results on Monday, February 21st. The company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.06. Broadstone Net Lease had a net margin of 26.75% and a return on equity of 3.84%. During the same quarter in the previous year, the business earned $0.30 earnings per share. Analysts predict that Broadstone Net Lease will post 1.4 EPS for the current fiscal year.

In related news, SVP Roderick Pickney sold 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 1st. The shares were sold at an average price of $21.50, for a total value of $86,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Laurier J. Lessard, Jr. sold 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, March 10th. The shares were sold at an average price of $21.20, for a total transaction of $53,000.00. The disclosure for this sale can be found here. Insiders own 0.84% of the company’s stock.

Several institutional investors have recently modified their holdings of the stock. Prairiewood Capital LLC increased its holdings in shares of Broadstone Net Lease by 14.9% in the first quarter. Prairiewood Capital LLC now owns 258,005 shares of the company’s stock valued at $5,619,000 after purchasing an additional 33,442 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in Broadstone Net Lease by 7.9% during the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 17,546 shares of the company’s stock worth $382,000 after acquiring an additional 1,292 shares during the period. AdvisorNet Financial Inc acquired a new stake in Broadstone Net Lease during the 1st quarter worth $323,000. State of Alaska Department of Revenue grew its holdings in Broadstone Net Lease by 0.7% during the 1st quarter. State of Alaska Department of Revenue now owns 80,535 shares of the company’s stock worth $1,753,000 after acquiring an additional 555 shares during the period. Finally, Redpoint Investment Management Pty Ltd grew its holdings in Broadstone Net Lease by 28.2% during the 1st quarter. Redpoint Investment Management Pty Ltd now owns 16,902 shares of the company’s stock worth $368,000 after acquiring an additional 3,719 shares during the period. 71.40% of the stock is owned by institutional investors and hedge funds.

Broadstone Net Lease Company Profile (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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