1,843,181 Global Net Lease, Inc. $GNL Shares Purchased by Private Management Group Inc.

Key Points

• Private Management Group increased its Global Net Lease stake by 56.3% in the third quarter, adding 1.84 million shares. It ended the period with 5.12 million shares, worth about $42.3 million and representing 2.43% of the company.
• Global Net Lease paid a quarterly dividend of $0.19 per share, equivalent to an annualized yield of 11.1% at the reported share price. Its dividend payout ratio was -281.48%.
• Analysts’ consensus rating was Moderate Buy, with an average price target of $9.75; shares opened at $6.87 in the article’s report.

Private Management Group Inc. raised its position in Global Net Lease, Inc. (NYSE:GNL - Free Report) by 56.3% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 5,115,564 shares of the financial services provider's stock after buying an additional 1,843,181 shares during the period. Global Net Lease comprises approximately 1.1% of Private Management Group Inc.'s holdings, making the stock its 16th largest holding. Private Management Group Inc. owned about 2.43% of Global Net Lease worth $42,255,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in GNL. M Holdings Securities Inc. bought a new position in Global Net Lease in the third quarter valued at about $129,000. Ethic Inc. bought a new stake in Global Net Lease during the 3rd quarter worth about $89,000. Heritage Family Offices LLP bought a new stake in Global Net Lease during the 3rd quarter worth about $34,000. Arrow Investment Advisors LLC raised its holdings in Global Net Lease by 9.0% during the 3rd quarter. Arrow Investment Advisors LLC now owns 26,687 shares of the financial services provider's stock worth $220,000 after purchasing an additional 2,209 shares during the last quarter. Finally, Bfsg LLC lifted its position in Global Net Lease by 38.8% during the 3rd quarter. Bfsg LLC now owns 31,390 shares of the financial services provider's stock valued at $259,000 after purchasing an additional 8,767 shares during the period. 61.19% of the stock is owned by institutional investors and hedge funds.

Global Net Lease Stock Up 0.2%

NYSE:GNL opened at $6.87 on Tuesday. Global Net Lease, Inc. has a 12-month low of $6.81 and a 12-month high of $10.04. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.94. The firm has a market capitalization of $1.45 billion, a P/E ratio of 7.54 and a beta of 1.09. The stock's fifty day simple moving average is $8.06 and its 200-day simple moving average is $8.99.

Global Net Lease Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 16th. Shareholders of record on Monday, October 12th were issued a dividend of $0.19 per share. The ex-dividend date was Friday, October 9th. This represents a $0.76 dividend on an annualized basis and a yield of 11.1%. Global Net Lease's dividend payout ratio (DPR) is -281.48%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on GNL shares. Cantor Fitzgerald cut their target price on shares of Global Net Lease from $11.00 to $9.00 and set an "overweight" rating on the stock in a research report on Friday. Huntington started coverage on shares of Global Net Lease in a research note on Wednesday, November 4th. They set a "hold" rating for the company. BMO Capital Markets upgraded shares of Global Net Lease from a "market perform" rating to an "outperform" rating and set a $10.00 price objective on the stock in a report on Monday, August 17th. Finally, Citizens Jmp restated a "market outperform" rating and issued a $10.00 price objective on shares of Global Net Lease in a report on Monday, August 31st. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $9.75.

Global Net Lease Profile

Want to see what other hedge funds are holding GNL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Global Net Lease, Inc. (NYSE:GNL - Free Report).

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