Belpointe Asset Management LLC purchased a new position in Global Net Lease Inc (NYSE:GNL) during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 12,407 shares of the financial services provider’s stock, valued at approximately $272,000.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GNL. Vanguard Group Inc. grew its holdings in shares of Global Net Lease by 3.4% in the 2nd quarter. Vanguard Group Inc. now owns 10,331,374 shares of the financial services provider’s stock worth $229,770,000 after acquiring an additional 341,621 shares during the period. Balyasny Asset Management LLC acquired a new stake in Global Net Lease during the 2nd quarter valued at $7,074,000. Dimensional Fund Advisors LP grew its holdings in Global Net Lease by 213.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 410,650 shares of the financial services provider’s stock valued at $9,888,000 after buying an additional 279,654 shares during the last quarter. Citadel Advisors LLC grew its holdings in Global Net Lease by 806.4% during the 2nd quarter. Citadel Advisors LLC now owns 232,432 shares of the financial services provider’s stock valued at $5,169,000 after buying an additional 206,788 shares during the last quarter. Finally, BlackRock Inc. grew its holdings in Global Net Lease by 4.1% during the 2nd quarter. BlackRock Inc. now owns 5,290,884 shares of the financial services provider’s stock valued at $117,670,000 after buying an additional 206,552 shares during the last quarter. Institutional investors and hedge funds own 44.44% of the company’s stock.
A number of equities research analysts have commented on GNL shares. BidaskClub upgraded Global Net Lease from a “strong sell” rating to a “sell” rating in a report on Tuesday, August 22nd. Zacks Investment Research cut Global Net Lease from a “hold” rating to a “sell” rating in a report on Tuesday, September 26th. FBR & Co reiterated a “hold” rating on shares of Global Net Lease in a report on Tuesday, October 10th. Finally, B. Riley reiterated a “neutral” rating and set a $26.00 target price on shares of Global Net Lease in a report on Tuesday, November 7th.
Shares of Global Net Lease Inc (NYSE GNL) opened at $21.42 on Friday. The company has a market capitalization of $1,441.29, a price-to-earnings ratio of 10.01 and a beta of 0.68. The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 0.30. Global Net Lease Inc has a fifty-two week low of $20.71 and a fifty-two week high of $25.25.
The business also recently announced a monthly dividend, which was paid on Friday, December 15th. Shareholders of record on Friday, December 8th were issued a dividend of $0.1775 per share. This represents a $2.13 dividend on an annualized basis and a yield of 9.94%. The ex-dividend date was Thursday, December 7th. This is a boost from Global Net Lease’s previous monthly dividend of $0.18. Global Net Lease’s dividend payout ratio is 434.68%.
In related news, CEO James Larry Nelson bought 2,000 shares of the stock in a transaction on Monday, November 20th. The shares were purchased at an average price of $21.48 per share, for a total transaction of $42,960.00. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.19% of the stock is currently owned by corporate insiders.
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Global Net Lease Company Profile
Global Net Lease, Inc is a real estate investment trust. The Company’s business consists of owning, managing, operating, leasing, acquiring, investing in and disposing of real estate assets. It owns and invests in commercial properties principally in the United States, the United Kingdom and continental Europe that are then leased to companies.
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