Broadstone Net Lease Inc. [BNL] moved down -2.56: Why It’s Important

Broadstone Net Lease Inc. [NYSE: BNL] loss -2.56% or -0.64 points to close at $24.33 with a heavy trading volume of 6423290 shares. The company report on May 12, 2021 that Broadstone Net Lease Proposes Amendment to Company Charter.

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Broadstone Net Lease, Inc. (the “Company) announced that the Company’s Board of Directors has determined that it is in the best interest of the Company and its stockholders to amend the Company’s Articles of Incorporation, as amended (the “Charter”), to provide that amendments to the Charter shall only require the approval of a majority of votes cast at a duly called meeting of the Company’s stockholders, with a customary carve-out that would retain a supermajority vote for amendments to the restrictions on transfer and ownership of shares in connection with complying with REIT ownership requirements. Such an amendment would replace the current supermajority voting standard provided for by the Maryland General Corporate law, except for the provisions with respect to REIT ownership requirements. The Company intends to submit a proposal to stockholders at its 2022 annual meeting of stockholders to amend the Charter accordingly.

About Broadstone Net Lease, Inc.

It opened the trading session at $24.64, the shares rose to $25.48 and dropped to $24.31, the range by which the price of stock traded the whole day. The daily chart for BNL points out that the company has recorded 26.98% gains over the past six months. However, it is still -53.02% lower than its most recent low trading price.

If we look at the average trading volume of 1.64M shares, BNL reached to a volume of 6423290 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Broadstone Net Lease Inc. [BNL]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for BNL shares is $20.83 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on BNL stock is a recommendation set at 1.80. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Goldman have made an estimate for Broadstone Net Lease Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on June 17, 2021. The new note on the price target was released on June 15, 2021, representing the official price target for Broadstone Net Lease Inc. stock. Previously, the target price had yet another drop from $20 to $19, while Morgan Stanley kept a Equal-Weight rating on BNL stock.

The Average True Range (ATR) for Broadstone Net Lease Inc. is set at 0.81, with the Price to Sales ratio for BNL stock in the period of the last 12 months amounting to 10.74. The Price to Book ratio for the last quarter was 1.53, with the Price to Cash per share for the same quarter was set at 0.07. Price to Free Cash Flow for BNL in the course of the last twelve months was 26.30.

Trading performance analysis for BNL stock

Broadstone Net Lease Inc. [BNL] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.05. With this latest performance, BNL shares gained by 14.76% in over the last four-week period, additionally plugging by 26.98% over the last 6 months .

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for BNL stock in for the last two-week period is set at 64.02, with the RSI for the last a single of trading hit 57.52, and the three-weeks RSI is set at 67.05 for Broadstone Net Lease Inc. [BNL]. The present Moving Average for the last 50 days of trading for this stock 21.25, while it was recorded at 25.02 for the last single week of trading.

Broadstone Net Lease Inc. [BNL]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Broadstone Net Lease Inc. [BNL] shares currently have an operating margin of +34.09 and a Gross Margin at +49.44. Broadstone Net Lease Inc.’s Net Margin is presently recorded at +20.53.

Return on Total Capital for BNL is now 2.62, given the latest momentum, and Return on Invested Capital for the company is 1.71. Return on Equity for this stock inclined to 3.10, with Return on Assets sitting at 1.50. When it comes to the capital structure of this company, Broadstone Net Lease Inc. [BNL] has a Total Debt to Total Equity ratio set at 67.12. Additionally, BNL Total Debt to Total Capital is recorded at 40.16, with Total Debt to Total Assets ending up at 36.24. Long-Term Debt to Equity for the company is recorded at 67.12, with the Long-Term Debt to Total Capital now at 40.16.

Reflecting on the efficiency of the workforce at the company, Broadstone Net Lease Inc. [BNL] managed to generate an average of $865,493 per employee. Receivables Turnover for the company is 235.90 with a Total Asset Turnover recorded at a value of 0.07.

An analysis of insider ownership at Broadstone Net Lease Inc. [BNL]

There are presently around $1,799 million, or 51.60% of BNL stock, in the hands of institutional investors. The top three institutional holders of BNL stocks are: UNITED CAPITAL FINANCIAL ADVISERS, LLC with ownership of 22,709,554, which is approximately 73374.68% of the company’s market cap and around 0.70% of the total institutional ownership; BLACKROCK INC., holding 4,345,871 shares of the stock with an approximate value of $105.73 million in BNL stocks shares; and COHEN & STEERS, INC., currently with $92.86 million in BNL stock with ownership of nearly -39.888% of the company’s market capitalization.

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Positions in Broadstone Net Lease Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 102 institutional holders increased their position in Broadstone Net Lease Inc. [NYSE:BNL] by around 42,995,290 shares. Additionally, 43 investors decreased positions by around 14,438,973 shares, while 15 investors held positions by with 16,487,920 shares. The mentioned changes placed institutional holdings at 73,922,183 shares, according to the latest SEC report filing. BNL stock had 68 new institutional investments in for a total of 13,550,754 shares, while 15 institutional investors sold positions of 838,236 shares during the same period.

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