Texas Permanent School Fund Corp trimmed its position in Global Net Lease, Inc. (NYSE:GNL – Free Report) by 1.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 91,397 shares of the financial services provider’s stock after selling 1,687 shares during the quarter. Texas Permanent School Fund Corp owned 0.09% of Global Net Lease worth $940,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Macquarie Group Ltd. raised its stake in shares of Global Net Lease by 1.4% in the 1st quarter. Macquarie Group Ltd. now owns 159,504 shares of the financial services provider’s stock valued at $2,051,000 after buying an additional 2,127 shares in the last quarter. Sound Income Strategies LLC boosted its holdings in Global Net Lease by 15.5% during the second quarter. Sound Income Strategies LLC now owns 673,925 shares of the financial services provider’s stock valued at $6,928,000 after purchasing an additional 90,213 shares in the last quarter. Infrastructure Capital Advisors LLC raised its holdings in shares of Global Net Lease by 53.0% in the 1st quarter. Infrastructure Capital Advisors LLC now owns 79,125 shares of the financial services provider’s stock worth $1,018,000 after buying an additional 27,410 shares in the last quarter. ICA Group Wealth Management LLC lifted its position in shares of Global Net Lease by 9.4% during the 1st quarter. ICA Group Wealth Management LLC now owns 11,621 shares of the financial services provider’s stock worth $149,000 after buying an additional 1,000 shares during the period. Finally, Lazari Capital Management Inc. bought a new stake in Global Net Lease in the second quarter valued at $296,000. 75.56% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
Several brokerages have recently commented on GNL. StockNews.com downgraded shares of Global Net Lease from a “hold” rating to a “sell” rating in a research note on Friday, November 10th. TheStreet cut shares of Global Net Lease from a “c-” rating to a “d+” rating in a research note on Thursday, October 12th. Finally, BTIG Research cut their target price on shares of Global Net Lease from $19.00 to $15.00 and set a “buy” rating for the company in a research note on Monday, September 18th.
Global Net Lease Stock Performance
Shares of NYSE:GNL opened at $8.87 on Monday. The business has a fifty day moving average of $8.94 and a 200-day moving average of $10.02. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.05 and a current ratio of 0.05. Global Net Lease, Inc. has a twelve month low of $7.56 and a twelve month high of $15.28. The firm has a market cap of $2.04 billion, a PE ratio of -5.41, a price-to-earnings-growth ratio of 1.02 and a beta of 1.35.
Global Net Lease Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 16th. Shareholders of record on Thursday, October 12th were given a $0.354 dividend. This represents a $1.42 annualized dividend and a yield of 15.96%. The ex-dividend date of this dividend was Wednesday, October 11th. This is a boost from Global Net Lease’s previous quarterly dividend of $0.06. Global Net Lease’s dividend payout ratio (DPR) is presently -85.98%.
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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