Broadstone Net Lease initiated with an Outperform at Wedbush

Wedbush initiated coverage of Broadstone Net Lease with an Outperform rating and $20 price target. Despite the slow pace of the overall transaction market during the past 18-24 months, the net lease real estate investment trusts have largely relied on tenant relationships to continue external growth, the analyst tells investors in a research note. The firm says now is the the right time to buy Broadstone given its “improving story ahead of the calendar year turning.”