Global Net Lease, Inc. $GNL Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. reduced its stake in shares of Global Net Lease, Inc. (NYSE:GNL) by 1.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 31,783,062 shares of the financial services provider’s stock after selling 478,420 shares during the quarter. Vanguard Group Inc. owned about 14.38% of Global Net Lease worth $258,396,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Louisiana State Employees Retirement System raised its position in shares of Global Net Lease by 1.9% during the 3rd quarter. Louisiana State Employees Retirement System now owns 91,300 shares of the financial services provider’s stock worth $742,000 after buying an additional 1,700 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of Global Net Lease by 1.2% during the second quarter. The Manufacturers Life Insurance Company now owns 154,190 shares of the financial services provider’s stock valued at $1,164,000 after acquiring an additional 1,784 shares during the period. Amalgamated Bank raised its holdings in Global Net Lease by 3.4% during the third quarter. Amalgamated Bank now owns 56,721 shares of the financial services provider’s stock worth $461,000 after purchasing an additional 1,890 shares in the last quarter. Brookstone Capital Management lifted its position in Global Net Lease by 8.0% in the third quarter. Brookstone Capital Management now owns 27,303 shares of the financial services provider’s stock worth $222,000 after purchasing an additional 2,013 shares during the period. Finally, State of Wyoming lifted its position in Global Net Lease by 17.9% in the third quarter. State of Wyoming now owns 16,313 shares of the financial services provider’s stock worth $133,000 after purchasing an additional 2,482 shares during the period. Institutional investors own 61.19% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Citigroup reiterated an “outperform” rating on shares of Global Net Lease in a research report on Monday, January 12th. Cantor Fitzgerald raised Global Net Lease to a “strong-buy” rating in a research note on Wednesday, February 4th. Citizens Jmp boosted their price target on shares of Global Net Lease from $9.00 to $10.00 and gave the stock a “market outperform” rating in a research report on Monday, January 12th. Finally, Wall Street Zen upgraded shares of Global Net Lease from a “sell” rating to a “buy” rating in a research report on Saturday. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, Global Net Lease currently has a consensus rating of “Buy” and an average target price of $10.00.

Global Net Lease Trading Down 0.6%

Shares of GNL opened at $9.42 on Friday. The company has a current ratio of 0.15, a quick ratio of 0.15 and a debt-to-equity ratio of 0.93. Global Net Lease, Inc. has a 1-year low of $6.51 and a 1-year high of $10.04. The stock has a market capitalization of $2.02 billion, a P/E ratio of -7.92 and a beta of 1.13. The business’s 50-day moving average price is $9.27 and its 200 day moving average price is $8.42.

Global Net Lease Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 16th. Shareholders of record on Monday, January 12th were given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 8.1%. The ex-dividend date was Monday, January 12th. Global Net Lease’s payout ratio is presently -63.87%.

About Global Net Lease

Global Net Lease (NYSE: GNL) is a real estate investment trust (REIT) that focuses on acquiring and managing a diversified portfolio of single-tenant, net-lease commercial properties. The company’s business model centers on establishing long-term, triple-net leases with creditworthy tenants, enabling the pass-through of property operating expenses while aiming to provide predictable rental income and stable cash flows. Global Net Lease’s portfolio spans retail, industrial, office and light-industrial assets, each selected for its strategic location and tenant credit quality.

Since launching its initial public offering in April 2016, Global Net Lease has built a presence in key markets throughout the United States and Western Europe.