Broadstone Net Lease (BNL – Research Report), the Real Estate sector company, was revisited by a Wall Street analyst today. Analyst John Kim from BMO Capital maintained a Buy rating on the stock and has a $19.00 price target.
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John Kim’s rating is based on several strategic moves and performance metrics displayed by Broadstone Net Lease. The company has shown resilience and growth through its refined strategy of focusing on build-to-suit developments and improving its portfolio. Despite providing guidance slightly below consensus, BNL’s AFFOps growth is on an upward trajectory, and the acquisition environment is showing strength with significant acquisitions expected in the upcoming fiscal year.
Furthermore, BNL has successfully reduced its exposure to the healthcare sector by selling 12 properties, which has decreased its clinical and surgical exposure significantly. The company has also made progress in its development projects, with several build-to-suit constructions underway. Additionally, BNL’s portfolio shows strong fundamentals with high leased occupancy rates and increased rent collections, along with a rise in exposure to investment-grade tenants, all of which contribute to the positive outlook and the Buy rating by John Kim.
Kim covers the Real Estate sector, focusing on stocks such as Prologis, JBG Smith Properties, and Cousins Properties. According to TipRanks, Kim has an average return of 0.8% and a 48.79% success rate on recommended stocks.
In another report released on February 10, J.P. Morgan also maintained a Buy rating on the stock with a $20.00 price target.