Invesco Ltd. raised its stake in shares of Global Net Lease, Inc. (NYSE:GNL - Free Report) by 14.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,575,498 shares of the financial services provider's stock after purchasing an additional 461,173 shares during the quarter. Invesco Ltd. owned 1.55% of Global Net Lease worth $26,101,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also recently added to or reduced their stakes in the company. Helix Partners Management LP purchased a new stake in shares of Global Net Lease during the fourth quarter valued at approximately $24,455,000. JPMorgan Chase & Co. increased its position in shares of Global Net Lease by 107.3% in the fourth quarter. JPMorgan Chase & Co. now owns 1,269,118 shares of the financial services provider's stock valued at $9,265,000 after acquiring an additional 656,890 shares during the period. Norges Bank purchased a new position in shares of Global Net Lease in the fourth quarter valued at about $3,219,000. Advisors Asset Management Inc. raised its stake in shares of Global Net Lease by 28.9% during the fourth quarter. Advisors Asset Management Inc. now owns 1,430,580 shares of the financial services provider's stock valued at $10,443,000 after acquiring an additional 320,738 shares during the last quarter. Finally, TrueMark Investments LLC grew 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 worth $5,595,000 after purchasing an additional 302,327 shares during the last quarter. Institutional investors own 61.19% of the company's stock.
Global Net Lease Stock Down 0.4 %
Shares of NYSE:GNL traded down $0.03 during trading on Thursday, hitting $7.51. The stock had a trading volume of 246,264 shares, compared to its average volume of 1,513,067. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 0.70. Global Net Lease, Inc. has a 12 month low of $6.51 and a 12 month high of $9.11. The company has a market capitalization of $1.72 billion, a PE ratio of -7.98 and a beta of 1.19. The firm's fifty day moving average is $7.65 and its 200 day moving average is $7.54.
Global Net Lease Cuts Dividend
The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 16th. Stockholders of record on Friday, April 11th were given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 10.12%. The ex-dividend date of this dividend was Friday, April 11th. Global Net Lease's dividend payout ratio is presently -100.00%.
Insider Buying and Selling
In related news, major shareholder Nicholas S. Schorsch sold 200,000 shares of Global Net Lease stock in a transaction dated Thursday, April 3rd. The stock was sold at an average price of $7.95, for a total value of $1,590,000.00. Following the completion of the sale, the insider now directly owns 1,629,073 shares in the company, valued at approximately $12,951,130.35. This trade represents a 10.93 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.37% of the stock is owned by company insiders.
Analysts Set New Price Targets
Separately, B. Riley began coverage on Global Net Lease in a report on Tuesday. They issued a "neutral" rating and a $8.00 price objective for the company. Three investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $9.00.
Get Our Latest Stock Report on GNL
About Global Net Lease
(
Free Report)
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.
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