Raymond James & Associates lessened its stake in shares of Global Net Lease, Inc. (NYSE:GNL – Free Report) by 5.1% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 47,830 shares of the financial services provider’s stock after selling 2,596 shares during the period. Raymond James & Associates’ holdings in Global Net Lease were worth $492,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also bought and sold shares of the stock. Bank of New York Mellon Corp raised its stake in Global Net Lease by 4.5% in the first quarter. Bank of New York Mellon Corp now owns 1,145,077 shares of the financial services provider’s stock valued at $18,013,000 after buying an additional 48,896 shares during the period. Bank of Montreal Can raised its stake in Global Net Lease by 5.3% in the first quarter. Bank of Montreal Can now owns 31,150 shares of the financial services provider’s stock valued at $491,000 after buying an additional 1,581 shares during the period. MetLife Investment Management LLC raised its stake in Global Net Lease by 57.8% in the first quarter. MetLife Investment Management LLC now owns 54,350 shares of the financial services provider’s stock valued at $855,000 after buying an additional 19,899 shares during the period. Rhumbline Advisers raised its stake in Global Net Lease by 1.6% in the first quarter. Rhumbline Advisers now owns 317,198 shares of the financial services provider’s stock valued at $4,990,000 after buying an additional 5,102 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in Global Net Lease by 14.1% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 89,317 shares of the financial services provider’s stock valued at $1,405,000 after buying an additional 11,013 shares during the period. Institutional investors own 75.56% of the company’s stock.
Analyst Ratings Changes
Several research firms have issued reports on GNL. TheStreet lowered Global Net Lease from a “c-” rating to a “d+” rating in a research note on Thursday, October 12th. StockNews.com began coverage on Global Net Lease in a research report on Thursday, October 5th. They issued a “hold” rating on the stock. Finally, BTIG Research decreased their target price on Global Net Lease from $19.00 to $15.00 and set a “buy” rating on the stock in a research report on Monday, September 18th.
Global Net Lease Price Performance
Global Net Lease stock opened at $8.29 on Thursday. Global Net Lease, Inc. has a 12 month low of $7.56 and a 12 month high of $15.28. The stock’s 50 day moving average is $9.31 and its 200-day moving average is $10.16. The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 0.77. The company has a market capitalization of $865.72 million, a price-to-earnings ratio of -18.84, a PEG ratio of 1.00 and a beta of 1.35.
Global Net Lease Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, October 16th. Investors of record on Thursday, October 12th were given a dividend of $0.354 per share. The ex-dividend date was Wednesday, October 11th. This represents a $1.42 dividend on an annualized basis and a yield of 17.08%. This is an increase from Global Net Lease’s previous quarterly dividend of $0.06. Global Net Lease’s dividend payout ratio is currently -322.72%.
About Global Net Lease
Global Net Lease, Inc (NYSE: GNL) is a publicly traded real estate investment trust listed on the NYSE. They are 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.
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