Vanguard Group Inc. lowered its holdings in Global Net Lease, Inc. (NYSE:GNL - Free Report) by 6.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 30,646,246 shares of the financial services provider's stock after selling 2,087,532 shares during the period. Vanguard Group Inc. owned about 13.29% of Global Net Lease worth $223,718,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Sunbelt Securities Inc. lifted its holdings in shares of Global Net Lease by 10.9% in the 3rd quarter. Sunbelt Securities Inc. now owns 16,023 shares of the financial services provider's stock worth $135,000 after purchasing an additional 1,574 shares during the last quarter. Apeiron RIA LLC boosted its holdings in shares of Global Net Lease by 7.4% during the fourth quarter. Apeiron RIA LLC now owns 32,084 shares of the financial services provider's stock valued at $234,000 after acquiring an additional 2,200 shares during the period. Metis Global Partners LLC grew its position in shares of Global Net Lease by 11.4% during the fourth quarter. Metis Global Partners LLC now owns 22,700 shares of the financial services provider's stock worth $166,000 after acquiring an additional 2,318 shares during the last quarter. Fox Run Management L.L.C. increased its holdings in shares of Global Net Lease by 7.2% in the 4th quarter. Fox Run Management L.L.C. now owns 36,168 shares of the financial services provider's stock worth $264,000 after acquiring an additional 2,425 shares during the period. Finally, Atria Wealth Solutions Inc. lifted its position in Global Net Lease by 0.6% in the 4th quarter. Atria Wealth Solutions Inc. now owns 420,529 shares of the financial services provider's stock valued at $3,070,000 after purchasing an additional 2,499 shares during the last quarter. 61.19% of the stock is currently owned by institutional investors and hedge funds.
Global Net Lease Price Performance
NYSE:GNL traded down $0.32 during mid-day trading on Thursday, reaching $6.89. 3,685,937 shares of the stock were exchanged, compared to its average volume of 1,499,076. Global Net Lease, Inc. has a 1-year low of $6.51 and a 1-year high of $9.11. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 0.70. The firm has a market capitalization of $1.59 billion, a PE ratio of -7.33 and a beta of 1.19. The business has a fifty day moving average price of $7.59 and a 200 day moving average price of $7.60.
Global Net Lease Cuts Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 16th. Investors of record on Friday, April 11th will be issued 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 dividend yield of 11.02%. Global Net Lease's payout ratio is currently -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 on 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 transaction, 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.31% of the company's stock.
Analyst Ratings Changes
GNL has been the topic of a number of recent analyst reports. Citizens Jmp raised Global Net Lease from a "hold" rating to a "strong-buy" rating in a report on Tuesday, December 17th. JMP Securities raised shares of Global Net Lease from a "market perform" rating to an "outperform" rating and set a $9.00 price target for the company in a research note on Tuesday, December 17th. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Global Net Lease presently has a consensus rating of "Moderate Buy" and an average target price of $9.50.
Get Our Latest Stock Analysis on Global Net Lease
Global Net Lease Profile
(
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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