Thrivent Financial for Lutherans Has $2.17 Million Stock Holdings in Global Net Lease, Inc. (NYSE:GNL)

Thrivent Financial for Lutherans grew its position in shares of Global Net Lease, Inc. (NYSE:GNL - Free Report) by 90.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 296,580 shares of the financial services provider's stock after purchasing an additional 141,178 shares during the quarter. Thrivent Financial for Lutherans owned about 0.13% of Global Net Lease worth $2,166,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. US Bancorp DE increased its position in shares of Global Net Lease by 363.2% during the fourth quarter. US Bancorp DE now owns 6,072 shares of the financial services provider's stock worth $44,000 after buying an additional 4,761 shares during the period. Creative Financial Designs Inc. ADV grew its holdings in Global Net Lease by 119.4% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 6,659 shares of the financial services provider's stock worth $49,000 after acquiring an additional 3,624 shares during the period. McIlrath & Eck LLC bought a new position in shares of Global Net Lease in the 3rd quarter worth about $67,000. Allworth Financial LP lifted its stake in shares of Global Net Lease by 157.6% in the 4th quarter. Allworth Financial LP now owns 10,314 shares of the financial services provider's stock valued at $74,000 after purchasing an additional 6,310 shares during the period. Finally, HB Wealth Management LLC bought a new stake in shares of Global Net Lease during the 4th quarter valued at about $81,000. Institutional investors and hedge funds own 61.19% of the company's stock.

Global Net Lease Stock Down 0.3 %

Shares of GNL stock traded down $0.02 on Wednesday, reaching $7.96. 1,589,678 shares of the company were exchanged, compared to its average volume of 1,452,631. Global Net Lease, Inc. has a one year low of $6.52 and a one year high of $9.11. The company has a market cap of $1.84 billion, a price-to-earnings ratio of -8.47 and a beta of 1.18. The company has a 50-day moving average of $7.59 and a 200-day moving average of $7.68. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.06 and a quick ratio of 0.06.

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Global Net Lease Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 16th. Shareholders of record on Friday, April 11th will be paid a $0.19 dividend. The ex-dividend date of this dividend is Friday, April 11th. This represents a $0.76 dividend on an annualized basis and a yield of 9.55%. Global Net Lease's dividend payout ratio (DPR) is presently -144.74%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on GNL. 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 report on Tuesday, December 17th. Citizens Jmp raised shares of Global Net Lease from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, December 17th. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price 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.