why Broadstone Net Lease Inc. [BNL] is a Good Choice for Investors After New Price Target of $23.50

Broadstone Net Lease Inc. [NYSE: BNL] slipped around -0.01 points on Friday, while shares priced at $16.77 at the close of the session, down -0.06%. The company report on November 2, 2022 that Broadstone Net Lease Announces Third Quarter 2022 Results.


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Broadstone Net Lease, Inc. (NYSE: BNL) (“BNL,” the “Company,” “we,” “our,” or “us”), today announced its operating results for the quarter ended September 30, 2022.

Broadstone Net Lease Inc. stock is now -32.43% down from its year-to-date (YTD) trading value. BNL Stock saw the intraday high of $16.78 and lowest of $16.46 per share. The company’s 52-week high price is 25.07, which means current price is +11.95% above from all time high which was touched on 01/03/22.

Compared to the average trading volume of 1.00M shares, BNL reached a trading volume of 391965 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say 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 $23.50 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 2.60. 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.

Truist have made an estimate for Broadstone Net Lease Inc. shares, keeping their opinion on the stock as Hold, with their previous recommendation back on August 24, 2021. The new note on the price target was released on June 17, 2021, representing the official price target for Broadstone Net Lease Inc. stock. Previously, the target price had yet another raise to $25, while JP Morgan analysts kept a Neutral rating on BNL stock. On April 15, 2021, analysts decreased their price target for BNL shares from 20 to 19.

The Average True Range (ATR) for Broadstone Net Lease Inc. is set at 0.46, with the Price to Sales ratio for BNL stock in the period of the last 12 months amounting to 7.49. The Price to Book ratio for the last quarter was 1.02, with the Price to Cash per share for the same quarter was set at 0.44. Price to Free Cash Flow for BNL in the course of the last twelve months was 49.74.

How has BNL stock performed recently?

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 -0.36. With this latest performance, BNL shares dropped by -2.16% in over the last four-week period, additionally sinking by -20.07% over the last 6 months – not to mention a drop of -31.55% in the past year of trading.

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 45.64, with the RSI for the last a single of trading hit 43.45, and the three-weeks RSI is set at 46.60 for Broadstone Net Lease Inc. [BNL]. The present Moving Average for the last 50 days of trading for this stock 16.91, while it was recorded at 16.64 for the last single week of trading, and 19.53 for the last 200 days.

Broadstone Net Lease Inc. [BNL]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Broadstone Net Lease Inc. [BNL] shares currently have an operating margin of +33.71 and a Gross Margin at +49.44. Broadstone Net Lease Inc.’s Net Margin is presently recorded at +8.77.

Return on Total Capital for BNL is now 2.56, given the latest momentum, and Return on Invested Capital for the company is 0.72. Return on Equity for this stock inclined to 1.32, with Return on Assets sitting at 0.64. 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 66.34, with the Long-Term Debt to Total Capital now at 39.69.

Reflecting on the efficiency of the workforce at the company, Broadstone Net Lease Inc. [BNL] managed to generate an average of $369,775 per employee. Receivables Turnover for the company is 235.90 with a Total Asset Turnover recorded at a value of 0.07.

Insider trade positions for Broadstone Net Lease Inc. [BNL]

There are presently around $2,356 million, or 81.80% of BNL stock, in the hands of institutional investors. The top three institutional holders of BNL stocks are: VANGUARD GROUP INC with ownership of 22,993,207, which is approximately -2.278% of the company’s market cap and around 0.20% of the total institutional ownership; BLACKROCK INC., holding 14,500,020 shares of the stock with an approximate value of $243.16 million in BNL stocks shares; and PRINCIPAL FINANCIAL GROUP INC, currently with $225.6 million in BNL stock with ownership of nearly 4.254% of the company’s market capitalization.

Positions in Broadstone Net Lease Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 129 institutional holders increased their position in Broadstone Net Lease Inc. [NYSE:BNL] by around 16,719,229 shares. Additionally, 87 investors decreased positions by around 5,992,615 shares, while 49 investors held positions by with 117,752,628 shares. The mentioned changes placed institutional holdings at 140,464,472 shares, according to the latest SEC report filing. BNL stock had 43 new institutional investments in for a total of 5,338,320 shares, while 21 institutional investors sold positions of 522,565 shares during the same period.

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