Vanguard Group Inc. Raises Stake in Global Net Lease, Inc. (NYSE:GNL)

Vanguard Group Inc. boosted its position in Global Net Lease, Inc. (NYSE:GNL - Free Report) by 83.8% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 30,770,077 shares of the financial services provider's stock after purchasing an additional 14,033,117 shares during the period. Vanguard Group Inc. owned about 13.36% of Global Net Lease worth $295,700,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the company. BlackRock Inc. lifted its position in Global Net Lease by 0.8% during the second quarter. BlackRock Inc. now owns 18,361,538 shares of the financial services provider's stock worth $188,757,000 after acquiring an additional 151,335 shares during the last quarter. State Street Corp lifted its position in Global Net Lease by 14.5% during the first quarter. State Street Corp now owns 6,640,651 shares of the financial services provider's stock worth $104,457,000 after acquiring an additional 839,449 shares during the last quarter. Hsbc Holdings PLC lifted its position in Global Net Lease by 8,487.0% during the third quarter. Hsbc Holdings PLC now owns 4,832,588 shares of the financial services provider's stock worth $46,536,000 after acquiring an additional 4,776,310 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in Global Net Lease by 80.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,991,844 shares of the financial services provider's stock worth $38,362,000 after acquiring an additional 1,778,131 shares during the last quarter. Finally, LSV Asset Management increased its holdings in shares of Global Net Lease by 65.9% during the third quarter. LSV Asset Management now owns 3,811,477 shares of the financial services provider's stock worth $36,628,000 after purchasing an additional 1,514,319 shares during the period. 61.19% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

GNL has been the topic of several recent research reports. BMO Capital Markets initiated coverage on shares of Global Net Lease in a report on Tuesday, February 13th. They set an "outperform" rating and a $11.00 target price on the stock. Truist Financial initiated coverage on shares of Global Net Lease in a report on Thursday. They set a "hold" rating and a $7.00 target price on the stock. Finally, BTIG Research cut shares of Global Net Lease from a "buy" rating to a "neutral" rating in a report on Friday, March 8th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $12.00.

Insider Activity at Global Net Lease

In related news, major shareholder Nicholas S. Schorsch sold 150,000 shares of Global Net Lease stock in a transaction that occurred on Friday, January 19th. The shares were sold at an average price of $8.90, for a total value of $1,335,000.00. Following the transaction, the insider now directly owns 4,255,042 shares of the company's stock, valued at $37,869,873.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Global Net Lease news, major shareholder Nicholas S. Schorsch sold 4,837 shares of the business's stock in a transaction on Friday, January 26th. The shares were sold at an average price of $8.90, for a total transaction of $43,049.30. Following the sale, the insider now owns 3,861,472 shares of the company's stock, valued at $34,367,100.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Nicholas S. Schorsch sold 150,000 shares of the business's stock in a transaction on Friday, January 19th. The stock was sold at an average price of $8.90, for a total transaction of $1,335,000.00. Following the sale, the insider now directly owns 4,255,042 shares in the company, valued at approximately $37,869,873.80. The disclosure for this sale can be found here. Insiders have sold 571,978 shares of company stock valued at $5,362,151 over the last three months. 0.22% of the stock is owned by insiders.

Global Net Lease Price Performance

NYSE:GNL traded up $0.14 during mid-day trading on Thursday, reaching $7.77. The stock had a trading volume of 1,458,842 shares, compared to its average volume of 1,637,351. The stock has a 50-day simple moving average of $7.89 and a two-hundred day simple moving average of $8.71. The stock has a market capitalization of $1.79 billion, a PE ratio of -4.49, a P/E/G ratio of 0.94 and a beta of 1.33. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.05 and a quick ratio of 0.05. Global Net Lease, Inc. has a 12 month low of $6.83 and a 12 month high of $13.10.

Global Net Lease Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 16th. Investors of record on Friday, January 12th were paid a $0.354 dividend. This represents a $1.42 dividend on an annualized basis and a yield of 18.22%. This is a boost from Global Net Lease's previous quarterly dividend of $0.06. The ex-dividend date of this dividend was Thursday, January 11th. Global Net Lease's dividend payout ratio (DPR) is -82.08%.

About Global Net Lease

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.