Vanguard Personalized Indexing Management LLC Buys 1,886 Shares of Broadstone Net Lease, Inc. (NYSE:BNL)

Vanguard Personalized Indexing Management LLC lifted its position in Broadstone Net Lease, Inc. (NYSE:BNL) by 17.5% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 12,686 shares of the company’s stock after purchasing an additional 1,886 shares during the quarter. Vanguard Personalized Indexing Management LLC’s holdings in Broadstone Net Lease were worth $216,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. LPL Financial LLC grew its stake in Broadstone Net Lease by 14.6% during the first quarter. LPL Financial LLC now owns 44,099 shares of the company’s stock worth $750,000 after buying an additional 5,623 shares during the last quarter. Principal Financial Group Inc. grew its position in Broadstone Net Lease by 1.6% during the 1st quarter. Principal Financial Group Inc. now owns 13,294,999 shares of the company’s stock worth $226,147,000 after acquiring an additional 203,533 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings in Broadstone Net Lease by 448.0% during the 1st quarter. Tower Research Capital LLC TRC now owns 6,362 shares of the company’s stock valued at $108,000 after purchasing an additional 5,201 shares in the last quarter. Mather Group LLC. acquired a new position in Broadstone Net Lease in the first quarter worth $442,000. Finally, Foster & Motley Inc. bought a new position in shares of Broadstone Net Lease in the first quarter valued at about $205,000. Institutional investors and hedge funds own 77.42% of the company’s stock.

Broadstone Net Lease Price Performance

Shares of NYSE:BNL opened at $16.22 on Friday. The stock has a market cap of $3.04 billion, a price-to-earnings ratio of 18.22 and a beta of 1.07. The company has a 50 day moving average of $16.13 and a 200-day moving average of $16.39. Broadstone Net Lease, Inc. has a one year low of $14.98 and a one year high of $19.88.

Broadstone Net Lease Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Friday, September 29th will be given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 6.91%. The ex-dividend date is Thursday, September 28th. Broadstone Net Lease’s payout ratio is 125.84%.

Wall Street Analyst Weigh In

Separately, Truist Financial decreased their price target on shares of Broadstone Net Lease from $19.00 to $18.00 in a research note on Wednesday.

About Broadstone Net Lease

BNL is an industrial-focused, diversified net lease REIT that acquires, owns, and manages primarily single-tenant commercial real estate properties that are net leased on a long-term basis to a diversified group of tenants. Utilizing an investment strategy underpinned by strong fundamental credit analysis and prudent real estate underwriting, as of June 30, 2023, BNL's diversified portfolio consisted of 801 individual net leased commercial properties with 794 properties located in 44 U.S.