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

Vanguard Group Inc. raised its holdings in shares of Global Net Lease, Inc. (NYSE:GNLFree Report) by 83.8% in the third quarter, Holdings Channel reports. The institutional investor owned 30,770,077 shares of the financial services provider’s stock after acquiring an additional 14,033,117 shares during the period. Vanguard Group Inc. owned about 0.13% of Global Net Lease worth $295,700,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in GNL. Beaird Harris Wealth Management LLC purchased a new stake in Global Net Lease during the third quarter valued at approximately $26,000. Gradient Investments LLC increased its stake in shares of Global Net Lease by 98.9% in the third quarter. Gradient Investments LLC now owns 2,942 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 1,463 shares in the last quarter. Moisand Fitzgerald Tamayo LLC purchased a new stake in shares of Global Net Lease in the third quarter worth $31,000. Spire Wealth Management increased its stake in shares of Global Net Lease by 221.9% in the third quarter. Spire Wealth Management now owns 3,299 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 2,274 shares in the last quarter. Finally, Wolff Wiese Magana LLC purchased a new stake in shares of Global Net Lease in the third quarter worth $34,000. 61.19% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, major shareholder Nicholas S. Schorsch sold 150,000 shares of the company’s stock in a transaction on Friday, January 19th. The shares were sold at an average price of $8.90, for a total transaction of $1,335,000.00. Following the completion of the transaction, the insider now owns 4,255,042 shares in the company, valued at $37,869,873.80. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Global Net Lease news, major shareholder Nicholas S. Schorsch sold 150,000 shares of the stock in a transaction on Friday, January 19th. The shares were sold at an average price of $8.90, for a total transaction of $1,335,000.00. Following the completion of the transaction, the insider now owns 4,255,042 shares in the company, valued at $37,869,873.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Nicholas S. Schorsch sold 220,564 shares of the stock in a transaction on Wednesday, January 10th. The shares were sold at an average price of $10.01, for a total transaction of $2,207,845.64. Following the transaction, the insider now owns 4,405,042 shares of the company’s stock, valued at approximately $44,094,470.42. The disclosure for this sale can be found here. Over the last quarter, insiders sold 571,978 shares of company stock worth $5,362,151. 0.22% of the stock is owned by insiders.

Global Net Lease Price Performance

Shares of NYSE:GNL opened at $7.63 on Thursday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.05 and a current ratio of 0.05. The firm has a fifty day moving average price of $7.91 and a 200 day moving average price of $8.71. Global Net Lease, Inc. has a fifty-two week low of $6.83 and a fifty-two week high of $13.10. The firm has a market cap of $1.76 billion, a price-to-earnings ratio of -4.41, a P/E/G ratio of 0.86 and a beta of 1.33.

Global Net Lease Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 16th. Investors of record on Friday, January 12th were given a dividend of $0.354 per share. This is a positive change from Global Net Lease’s previous quarterly dividend of $0.06. The ex-dividend date was Thursday, January 11th. This represents a $1.42 dividend on an annualized basis and a dividend yield of 18.56%. Global Net Lease’s dividend payout ratio is currently -82.08%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. BTIG Research cut shares of Global Net Lease from a “buy” rating to a “neutral” rating in a research note on Friday, March 8th. BMO Capital Markets started coverage on shares of Global Net Lease in a research note on Tuesday, February 13th. They issued an “outperform” rating and a $11.00 price objective for the company.

Check Out Our Latest Research Report on GNL

About Global Net Lease

(Free Report)

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.

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Institutional Ownership by Quarter for Global Net Lease (NYSE:GNL)

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