Bank of New York Mellon Corp Has $9.77 Million Stake in Global Net Lease, Inc. (NYSE:GNL)

Bank of New York Mellon Corp lowered its stake in shares of Global Net Lease, Inc. (NYSE:GNL - Free Report) by 2.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,338,893 shares of the financial services provider's stock after selling 35,594 shares during the quarter. Bank of New York Mellon Corp owned about 0.58% of Global Net Lease worth $9,774,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. McIlrath & Eck LLC acquired a new position in shares of Global Net Lease during the third quarter worth approximately $67,000. Allworth Financial LP lifted its holdings in shares of Global Net Lease by 157.6% during the fourth quarter. Allworth Financial LP now owns 10,314 shares of the financial services provider's stock worth $74,000 after buying an additional 6,310 shares during the last quarter. KBC Group NV raised its stake in shares of Global Net Lease by 37.4% in the third quarter. KBC Group NV now owns 9,311 shares of the financial services provider's stock valued at $78,000 after purchasing an additional 2,535 shares in the last quarter. HB Wealth Management LLC acquired a new position in shares of Global Net Lease in the fourth quarter valued at $81,000. Finally, Abel Hall LLC acquired a new position in shares of Global Net Lease in the third quarter valued at $93,000. Institutional investors own 61.19% of the company's stock.

Global Net Lease Price Performance

Shares of GNL stock traded down $0.15 during trading hours on Tuesday, hitting $8.03. 1,208,998 shares of the company's stock were exchanged, compared to its average volume of 1,369,305. The stock's 50-day moving average is $7.42 and its 200-day moving average is $7.73. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.06 and a quick ratio of 0.06. The stock has a market cap of $1.85 billion, a price-to-earnings ratio of -8.54 and a beta of 1.33. Global Net Lease, Inc. has a 52 week low of $6.52 and a 52 week high of $9.11.

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Global Net Lease Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Shareholders of record on Monday, January 13th were paid a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 13.71%. The ex-dividend date was Monday, January 13th. Global Net Lease's payout ratio is -144.74%.

Analyst Ratings Changes

GNL has been the subject of a number of recent research reports. Citizens Jmp upgraded Global Net Lease from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, December 17th. JMP Securities upgraded Global Net Lease from a "market perform" rating to an "outperform" rating and set a $9.00 target price for the company in a research note on Tuesday, December 17th. Finally, Truist Financial cut their target price on Global Net Lease from $8.50 to $8.00 and set a "hold" rating for the company in a research note on Friday, November 29th. Two equities research 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, the company presently has an average rating of "Moderate Buy" and an average price target of $9.50.

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.