Resona Asset Management Co. Ltd. Makes New $569,000 Investment in Global Net Lease, Inc. (NYSE:GNL)

Resona Asset Management Co. Ltd. acquired a new position in Global Net Lease, Inc. (NYSE:GNL - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 78,858 shares of the financial services provider's stock, valued at approximately $569,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. Helix Partners Management LP bought a new position in Global Net Lease during the 4th quarter worth $24,455,000. JPMorgan Chase & Co. boosted its stake in Global Net Lease by 107.3% during the 4th quarter. JPMorgan Chase & Co. now owns 1,269,118 shares of the financial services provider's stock valued at $9,265,000 after purchasing an additional 656,890 shares during the period. Norges Bank acquired a new position in Global Net Lease during the 4th quarter valued at about $3,219,000. Advisors Asset Management Inc. grew its position in Global Net Lease by 28.9% in the 4th quarter. Advisors Asset Management Inc. now owns 1,430,580 shares of the financial services provider's stock worth $10,443,000 after purchasing an additional 320,738 shares during the last quarter. Finally, TrueMark Investments LLC increased its stake in shares of Global Net Lease by 65.1% in the fourth quarter. TrueMark Investments LLC now owns 766,419 shares of the financial services provider's stock valued at $5,595,000 after purchasing an additional 302,327 shares during the period. Institutional investors own 61.19% of the company's stock.

Analyst Upgrades and Downgrades

GNL has been the subject of a number of recent analyst reports. JMP Securities raised Global Net Lease from a "market perform" rating to an "outperform" rating and set a $9.00 price objective for the company in a report on Tuesday, December 17th. Citizens Jmp raised Global Net Lease from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, December 17th. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Global Net Lease presently has a consensus rating of "Moderate Buy" and a consensus price target of $9.50.

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Insider Activity

In related news, major shareholder Nicholas S. Schorsch sold 200,000 shares of the business's stock in a transaction that occurred on Thursday, April 3rd. The shares were sold at an average price of $7.95, for a total value of $1,590,000.00. Following the sale, the insider now directly owns 1,629,073 shares in the company, valued at $12,951,130.35. The trade was a 10.93 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.31% of the company's stock.

Global Net Lease Price Performance

NYSE:GNL traded up $0.08 during midday trading on Wednesday, hitting $7.56. 441,451 shares of the stock were exchanged, compared to its average volume of 1,768,556. The company has a market capitalization of $1.73 billion, a price-to-earnings ratio of -8.04 and a beta of 1.19. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 0.70. Global Net Lease, Inc. has a one year low of $6.51 and a one year high of $9.10. The business has a 50-day moving average price of $7.60 and a two-hundred day moving average price of $7.57.

Global Net Lease Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 16th. Stockholders of record on Friday, April 11th will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 10.06%. The ex-dividend date is Friday, April 11th. Global Net Lease's dividend payout ratio is presently -100.00%.

Global Net Lease Profile

Global Net Lease, Inc NYSE: GNL is a publicly traded real estate investment trust listed on the NYSE. The firm focused on acquiring a diversified global portfolio of commercial properties, with an emphasis on sale-leaseback transactions involving single tenant, mission critical income producing net-leased assets across the United States, Western and Northern Europe.