Fintel reports that on June 12, 2024, Keybanc initiated coverage of Broadstone Net Lease (NYSE:BNL) with a Sector Weight recommendation.
Analyst Price Forecast Suggests 20.56% Upside
As of June 1, 2024, the average one-year price target for Broadstone Net Lease is 18.16. The forecasts range from a low of 14.14 to a high of $23.10. The average price target represents an increase of 20.56% from its latest reported closing price of 15.06.
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The projected annual revenue for Broadstone Net Lease is 435MM, an increase of 1.34%. The projected annual non-GAAP EPS is 0.67.
What is the Fund Sentiment?
There are 547 funds or institutions reporting positions in Broadstone Net Lease. This is an decrease of 4 owner(s) or 0.73% in the last quarter. Average portfolio weight of all funds dedicated to BNL is 0.21%, an increase of 1.44%. Total shares owned by institutions decreased in the last three months by 0.90% to 178,043K shares. 
The put/call ratio of BNL is 1.70, indicating a bearish outlook.
What are Other Shareholders Doing?
Principal Financial Group holds 14,778K shares representing 7.84% ownership of the company. In its prior filing, the firm reported owning 14,904K shares , representing a decrease of 0.86%. The firm decreased its portfolio allocation in BNL by 54.95% over the last quarter.
VGSIX - Vanguard Real Estate Index Fund Investor Shares holds 7,565K shares representing 4.01% ownership of the company. In its prior filing, the firm reported owning 7,722K shares , representing a decrease of 2.07%. The firm decreased its portfolio allocation in BNL by 2.56% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 5,898K shares representing 3.13% ownership of the company. In its prior filing, the firm reported owning 5,879K shares , representing an increase of 0.32%. The firm decreased its portfolio allocation in BNL by 16.77% 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.
Alliancebernstein holds 4,829K shares representing 2.56% ownership of the company. In its prior filing, the firm reported owning 5,525K shares , representing a decrease of 14.43%. The firm decreased its portfolio allocation in BNL by 37.22% 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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