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Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Global Net Lease, Inc. (NYSE:GNL – Free Report) by 25.9% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 2,236,299 shares of the financial services provider’s stock after purchasing an additional 460,717 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned about 0.97% of Global Net Lease worth $17,376,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of the business. New York State Common Retirement Fund increased its holdings in Global Net Lease by 0.7% in the 4th quarter. New York State Common Retirement Fund now owns 163,541 shares of the financial services provider’s stock worth $1,627,000 after buying an additional 1,215 shares in the last quarter. Raleigh Capital Management Inc. lifted its holdings in Global Net Lease by 59.1% in the third quarter. Raleigh Capital Management Inc. now owns 4,249 shares of the financial services provider’s stock valued at $41,000 after acquiring an additional 1,579 shares during the period. Cambridge Investment Research Advisors Inc. boosted its position in Global Net Lease by 0.5% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 360,146 shares of the financial services provider’s stock worth $3,583,000 after purchasing an additional 1,666 shares during the last quarter. Nisa Investment Advisors LLC grew its stake in shares of Global Net Lease by 1.5% during the 4th quarter. Nisa Investment Advisors LLC now owns 136,718 shares of the financial services provider’s stock valued at $1,360,000 after purchasing an additional 1,968 shares during the period. Finally, Essex Financial Services Inc. increased its position in shares of Global Net Lease by 20.7% during the 4th quarter. Essex Financial Services Inc. now owns 12,069 shares of the financial services provider’s stock valued at $120,000 after purchasing an additional 2,069 shares during the last quarter. 61.19% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
Several analysts recently issued reports on GNL shares. Truist Financial started coverage on shares of Global Net Lease in a research report on Thursday, March 28th. They set a “hold” rating and a $7.00 target price for the company. BMO Capital Markets reiterated an “outperform” rating and issued a $11.00 price target on shares of Global Net Lease in a research report on Friday, June 28th. Finally, JMP Securities reiterated a “market perform” rating on shares of Global Net Lease in a research report on Wednesday, June 12th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $11.00.
Check Out Our Latest Analysis on Global Net Lease
Global Net Lease Trading Up 2.2 %
NYSE:GNL traded up $0.16 during trading hours on Friday, hitting $7.56. 1,282,059 shares of the stock traded hands, compared to its average volume of 1,503,655. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.05 and a quick ratio of 0.05. Global Net Lease, Inc. has a 1 year low of $6.52 and a 1 year high of $11.58. The stock has a 50 day moving average price of $7.36 and a 200 day moving average price of $7.85.
Global Net Lease Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 16th. Shareholders of record on Thursday, July 11th will be issued a dividend of $0.275 per share. The ex-dividend date of this dividend is Thursday, July 11th. This represents a $1.10 annualized dividend and a yield of 14.55%. This is an increase from Global Net Lease’s previous quarterly dividend of $0.06. Global Net Lease’s payout ratio is currently -60.44%.
Insider Buying and Selling at Global Net Lease
In other Global Net Lease news, major shareholder Nicholas S. Schorsch sold 159,720 shares of Global Net Lease stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $7.32, for a total transaction of $1,169,150.40. Following the transaction, the insider now owns 3,546,752 shares of the company’s stock, valued at $25,962,224.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Global Net Lease news, major shareholder Nicholas S. Schorsch sold 433,350 shares of the firm’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $7.19, for a total transaction of $3,115,786.50. Following the completion of the transaction, the insider now owns 2,679,073 shares in the company, valued at approximately $19,262,534.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Nicholas S. Schorsch sold 159,720 shares of the firm’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $7.32, for a total value of $1,169,150.40. Following the transaction, the insider now owns 3,546,752 shares of the company’s stock, valued at approximately $25,962,224.64. The disclosure for this sale can be found here. Insiders have sold 1,043,070 shares of company stock valued at $7,497,437 over the last 90 days. 0.31% of the stock is currently owned by corporate insiders.
Global Net Lease Company Profile
Global Net Lease, Inc (NYSE: GNL) is a publicly traded real estate investment trust listed on the NYSE 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.
Further Reading
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