Fintel reports that on December 17, 2024, JMP Securities upgraded their outlook for Broadstone Net Lease (NYSE:BNL) from Market Perform to Market Outperform.
Analyst Price Forecast Suggests 15.54% Upside
As of December 3, 2024, the average one-year price target for Broadstone Net Lease is $19.53/share. The forecasts range from a low of $16.16 to a high of $23.10. The average price target represents an increase of 15.54% from its latest reported closing price of $16.90 / share.
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The projected annual revenue for Broadstone Net Lease is 435MM, an increase of 2.43%. The projected annual non-GAAP EPS is 0.67.
What is the Fund Sentiment?
There are 572 funds or institutions reporting positions in Broadstone Net Lease. This is an increase of 19 owner(s) or 3.44% in the last quarter. Average portfolio weight of all funds dedicated to BNL is 0.27%, an increase of 34.25%. Total shares owned by institutions decreased in the last three months by 3.03% to 173,981K shares. 
The put/call ratio of BNL is 0.03, indicating a bullish outlook.
What are Other Shareholders Doing?
VGSIX - Vanguard Real Estate Index Fund Investor Shares holds 7,518K shares representing 3.99% ownership of the company. In its prior filing, the firm reported owning 7,645K shares , representing a decrease of 1.69%. The firm increased its portfolio allocation in BNL by 4.77% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 5,899K shares representing 3.13% ownership of the company. In its prior filing, the firm reported owning 5,861K shares , representing an increase of 0.64%. The firm increased its portfolio allocation in BNL by 12.88% over the last quarter.
IWM - iShares Russell 2000 ETF holds 4,945K shares representing 2.62% ownership of the company. In its prior filing, the firm reported owning 4,410K shares , representing an increase of 10.83%. The firm increased its portfolio allocation in BNL by 15.53% over the last quarter.
PRAEX - Real Estate Securities Fund R-1 holds 4,899K shares representing 2.60% ownership of the company. No change in the last quarter.
Geode Capital Management holds 4,845K shares representing 2.57% ownership of the company. In its prior filing, the firm reported owning 4,782K shares , representing an increase of 1.29%. The firm decreased its portfolio allocation in BNL by 41.54% over the last quarter.
Broadstone Net Lease Background Information
(This description is provided by the company.)
Broadstone Net Lease, Inc. (BNL) invests in freestanding, single-tenant, net leased commercial properties located throughout the United States, primarily via sale and leaseback, lease assumption, and UPREIT transactions. UPREIT transactions (where 'UPREIT' means 'umbrella partnership real estate investment trust') provide a tax deferred exit strategy for owners of real estate who might otherwise recognize a significant taxable gain in a cash sale of a highly appreciated property with a low tax cost basis. With a diversified portfolio of 550 retail, healthcare, industrial, office and other properties in 40 states as of March 31, 2018, the REIT targets individual or portfolio acquisitions within the $5 million to $300 million range. There are currently more than 2,700 shareholders in BNL, which is externally managed by Broadstone Real Estate, LLC. BNL remains open for new investment by accredited investors on a monthly basis, with a minimum direct investment of $500,000. Shares are offered directly by BNL via private placement.
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This story originally appeared on Fintel.
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