JPMorgan Chase & Co. Grows Stake in Global Net Lease, Inc. (NYSE:GNL)

JPMorgan Chase & Co. lifted its stake in Global Net Lease, Inc. (NYSE:GNL - Free Report) by 31.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 612,228 shares of the financial services provider's stock after acquiring an additional 147,803 shares during the period. JPMorgan Chase & Co. owned approximately 0.27% of Global Net Lease worth $5,155,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the stock. Sunbelt Securities Inc. boosted its holdings in Global Net Lease by 10.3% in the 2nd quarter. Sunbelt Securities Inc. now owns 14,449 shares of the financial services provider's stock valued at $106,000 after purchasing an additional 1,351 shares during the period. Cobblestone Asset Management LLC boosted its stake in Global Net Lease by 4.2% during the third quarter. Cobblestone Asset Management LLC now owns 44,537 shares of the financial services provider's stock valued at $375,000 after buying an additional 1,804 shares during the period. GAMMA Investing LLC grew its position in Global Net Lease by 60.1% during the third quarter. GAMMA Investing LLC now owns 5,054 shares of the financial services provider's stock worth $43,000 after buying an additional 1,897 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Global Net Lease by 14.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 15,601 shares of the financial services provider's stock worth $133,000 after purchasing an additional 1,962 shares during the last quarter. Finally, Signaturefd LLC increased its holdings in shares of Global Net Lease by 18.7% in the 3rd quarter. Signaturefd LLC now owns 14,726 shares of the financial services provider's stock worth $124,000 after buying an additional 2,316 shares during the last quarter. 61.19% of the stock is currently owned by hedge funds and other institutional investors.

Global Net Lease Trading Down 0.5 %

GNL stock traded down $0.04 during trading on Friday, reaching $7.24. The company had a trading volume of 1,190,489 shares, compared to its average volume of 1,625,244. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.06 and a quick ratio of 0.06. Global Net Lease, Inc. has a 52 week low of $6.52 and a 52 week high of $9.10. The business has a 50 day moving average of $7.28 and a 200 day moving average of $7.97. The company has a market cap of $1.67 billion, a P/E ratio of -7.70, a PEG ratio of 0.96 and a beta of 1.34.

Global Net Lease (NYSE:GNL - Get Free Report) last posted its earnings results on Wednesday, November 6th. The financial services provider reported ($0.33) earnings per share for the quarter, missing analysts' consensus estimates of $0.32 by ($0.65). The firm had revenue of $196.56 million for the quarter, compared to analysts' expectations of $198.76 million. Global Net Lease had a negative return on equity of 7.04% and a negative net margin of 21.37%. During the same quarter last year, the company posted $0.36 EPS. As a group, sell-side analysts forecast that Global Net Lease, Inc. will post 1.27 earnings per share for the current fiscal year.

Global Net Lease Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 16th. Shareholders of record on Monday, January 13th were given a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 15.20%. The ex-dividend date was Monday, January 13th. Global Net Lease's dividend payout ratio is currently -117.02%.

Insider Activity

In other Global Net Lease news, major shareholder Nicholas S. Schorsch bought 100,000 shares of the firm's stock in a transaction on Monday, November 11th. The stock was acquired at an average price of $7.72 per share, with a total value of $772,000.00. Following the completion of the purchase, the insider now owns 1,829,073 shares of the company's stock, valued at approximately $14,120,443.56. This trade represents a 5.78 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.31% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on GNL. Citizens Jmp upgraded shares of Global Net Lease from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, December 17th. Truist Financial cut their price target on shares of Global Net Lease from $8.50 to $8.00 and set a "hold" rating on the stock in a report on Friday, November 29th. Finally, JMP Securities raised shares of Global Net Lease from a "market perform" rating to an "outperform" rating and set a $9.00 price objective for the company in a research note on Tuesday, December 17th. Three investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Global Net Lease currently has a consensus rating of "Moderate Buy" and an average price target of $9.50.

About Global Net Lease

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.