Vanguard Group Inc. Acquires 3,162,310 Shares of Global Net Lease, Inc. (NYSE:GNL)

Vanguard Group Inc. increased its holdings in shares of Global Net Lease, Inc. (NYSE:GNL) by 10.3% during the fourth quarter, HoldingsChannel.com reports. The fund owned 33,932,387 shares of the financial services provider’s stock after buying an additional 3,162,310 shares during the quarter. Vanguard Group Inc. owned approximately 0.15% of Global Net Lease worth $337,627,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of GNL. Charles Schwab Investment Management Inc. boosted its holdings in shares of Global Net Lease by 5.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,698,157 shares of the financial services provider’s stock worth $36,797,000 after buying an additional 200,649 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Global Net Lease by 3.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,724,873 shares of the financial services provider’s stock valued at $27,113,000 after acquiring an additional 92,391 shares during the last quarter. Corient Private Wealth LLC grew its position in shares of Global Net Lease by 3,410.4% during the 4th quarter. Corient Private Wealth LLC now owns 2,688,951 shares of the financial services provider’s stock valued at $26,755,000 after acquiring an additional 2,612,351 shares during the period. Invesco Ltd. increased its stake in shares of Global Net Lease by 18.3% during the 3rd quarter. Invesco Ltd. now owns 2,231,893 shares of the financial services provider’s stock worth $21,448,000 after purchasing an additional 345,120 shares during the last quarter. Finally, Northern Trust Corp increased its stake in shares of Global Net Lease by 83.8% during the 3rd quarter. Northern Trust Corp now owns 2,217,620 shares of the financial services provider’s stock worth $21,311,000 after purchasing an additional 1,011,160 shares during the last quarter. Hedge funds and other institutional investors own 61.19% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on the company. BMO Capital Markets reiterated an “outperform” rating and issued a $11.00 price objective on shares of Global Net Lease in a research note on Friday. BTIG Research lowered Global Net Lease from a “buy” rating to a “neutral” rating in a report on Friday, March 8th. JMP Securities reaffirmed a “market perform” rating on shares of Global Net Lease in a report on Wednesday, June 12th. Finally, Truist Financial began coverage on shares of Global Net Lease in a research note on Thursday, March 28th. They issued a “hold” rating and a $7.00 target price for the company. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $11.00.

Global Net Lease Price Performance

Shares of NYSE GNL opened at $7.35 on Friday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.05 and a current ratio of 0.05. Global Net Lease, Inc. has a fifty-two week low of $6.52 and a fifty-two week high of $11.58. The stock has a market cap of $1.69 billion, a PE ratio of -4.04, a price-to-earnings-growth ratio of 0.90 and a beta of 1.38. The stock has a fifty day moving average of $7.31 and a 200-day moving average of $7.93.

Global Net Lease Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 16th. Shareholders of record on Thursday, April 11th were paid a $0.275 dividend. The ex-dividend date of this dividend was Wednesday, April 10th. This represents a $1.10 annualized dividend and a yield of 14.97%. This is an increase from Global Net Lease’s previous quarterly dividend of $0.06. Global Net Lease’s dividend payout ratio (DPR) is currently -60.44%.

Insider Buying and Selling at Global Net Lease

In other news, major shareholder Nicholas S. Schorsch sold 159,720 shares of the stock in a transaction dated 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 sale, the insider now directly 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 SEC, which is available at this link. In other news, major shareholder Nicholas S. Schorsch sold 159,720 shares of the company’s stock in a transaction 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 $25,962,224.64. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Nicholas S. Schorsch sold 433,350 shares of Global Net Lease stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $7.19, for a total value of $3,115,786.50. Following the sale, the insider now directly owns 2,679,073 shares of the company’s stock, valued at approximately $19,262,534.87. The disclosure for this sale can be found here. Insiders sold 1,043,070 shares of company stock valued at $7,497,437 in the last quarter. 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.