Vestcor Inc Invests $1.30 Million in Global Net Lease, Inc. (NYSE:GNL)

Vestcor Inc bought a new position in Global Net Lease, Inc. (NYSE:GNL - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 178,508 shares of the financial services provider's stock, valued at approximately $1,303,000. Vestcor Inc owned about 0.08% of Global Net Lease at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in GNL. Swiss National Bank increased its stake in shares of Global Net Lease by 0.8% in the fourth quarter. Swiss National Bank now owns 385,257 shares of the financial services provider's stock valued at $2,812,000 after buying an additional 3,100 shares during the period. HighTower Advisors LLC increased its stake in shares of Global Net Lease by 4.5% in the fourth quarter. HighTower Advisors LLC now owns 141,964 shares of the financial services provider's stock valued at $1,036,000 after buying an additional 6,062 shares during the period. Inceptionr LLC acquired a new position in shares of Global Net Lease in the fourth quarter valued at approximately $84,000. Raymond James Financial Inc. acquired a new position in shares of Global Net Lease in the fourth quarter valued at approximately $227,000. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Global Net Lease by 2.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,171,758 shares of the financial services provider's stock valued at $30,454,000 after buying an additional 112,908 shares during the period. Institutional investors own 61.19% of the company's stock.

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Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. JMP Securities raised 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. Truist Financial lowered their price objective 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. Finally, 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 investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $9.50.

Global Net Lease Trading Down 0.7 %

NYSE:GNL traded down $0.06 on Wednesday, reaching $7.97. 1,528,628 shares of the stock traded hands, compared to its average volume of 1,565,054. The firm has a market capitalization of $1.84 billion, a price-to-earnings ratio of -8.47 and a beta of 1.33. Global Net Lease, Inc. has a 1-year low of $6.52 and a 1-year high of $9.10. 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 company's 50 day moving average is $7.43 and its 200-day moving average is $7.73.

Global Net Lease Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 16th. Stockholders of record on Monday, January 13th were given a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 13.81%. The ex-dividend date was Monday, January 13th. Global Net Lease's dividend payout ratio (DPR) is -144.74%.

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.