Global Net Lease, Inc. (NYSE:GNL) Shares Sold by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale trimmed its holdings in Global Net Lease, Inc. (NYSE:GNL) by 8.2% during the fourth quarter, Holdings Channel reports. The institutional investor owned 44,683 shares of the financial services provider’s stock after selling 3,997 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Global Net Lease were worth $452,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in GNL. Raymond James & Associates boosted its stake in Global Net Lease by 11.8% in the 1st quarter. Raymond James & Associates now owns 74,749 shares of the financial services provider’s stock worth $1,176,000 after buying an additional 7,886 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Global Net Lease by 4.5% in the 1st quarter. Bank of New York Mellon Corp now owns 1,145,077 shares of the financial services provider’s stock worth $18,013,000 after buying an additional 48,896 shares during the last quarter. Bank of Montreal Can boosted its stake in Global Net Lease by 5.3% in the 1st quarter. Bank of Montreal Can now owns 31,150 shares of the financial services provider’s stock worth $491,000 after buying an additional 1,581 shares during the last quarter. MetLife Investment Management LLC boosted its stake in Global Net Lease by 57.8% in the 1st quarter. MetLife Investment Management LLC now owns 54,350 shares of the financial services provider’s stock worth $855,000 after buying an additional 19,899 shares during the last quarter. Finally, Rhumbline Advisers lifted its stake in shares of Global Net Lease by 1.6% in the 1st quarter. Rhumbline Advisers now owns 317,198 shares of the financial services provider’s stock valued at $4,990,000 after purchasing an additional 5,102 shares in the last quarter. 61.19% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Global Net Lease news, major shareholder Nicholas S. Schorsch sold 176,577 shares of Global Net Lease stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $9.04, for a total transaction of $1,596,256.08. Following the sale, the insider now directly owns 4,078,465 shares in the company, valued at approximately $36,869,323.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Global Net Lease news, major shareholder Nicholas S. Schorsch sold 176,577 shares of Global Net Lease stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $9.04, for a total transaction of $1,596,256.08. Following the sale, the insider now directly owns 4,078,465 shares in the company, valued at approximately $36,869,323.60. 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 150,000 shares of the business’s 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 completion of the sale, the insider now owns 4,255,042 shares of the company’s stock, valued at $37,869,873.80. The disclosure for this sale can be found here. Insiders have sold 351,414 shares of company stock worth $3,154,305 in the last three months. 0.22% of the stock is owned by insiders.

Global Net Lease Stock Performance

Shares of NYSE:GNL opened at $6.74 on Tuesday. The company has a market cap of $1.55 billion, a P/E ratio of -3.89, a PEG ratio of 0.87 and a beta of 1.34. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.05 and a current ratio of 0.05. Global Net Lease, Inc. has a one year low of $6.65 and a one year high of $11.73. The business’s 50-day simple moving average is $7.55 and its 200 day simple moving average is $8.41.

Global Net Lease Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 16th. Shareholders of record on Thursday, April 11th will be issued a dividend of $0.275 per share. The ex-dividend date is Wednesday, April 10th. This is an increase from Global Net Lease’s previous quarterly dividend of $0.06. This represents a $1.10 annualized dividend and a yield of 16.33%. Global Net Lease’s payout ratio is currently -63.58%.

Wall Street Analyst Weigh In

GNL has been the topic of several research analyst reports. BMO Capital Markets initiated coverage on Global Net Lease in a research note on Tuesday, February 13th. They issued an “outperform” rating and a $11.00 price objective on the stock. BTIG Research lowered Global Net Lease from a “buy” rating to a “neutral” rating in a research note on Friday, March 8th. Finally, Truist Financial assumed coverage on Global Net Lease in a research note on Thursday, March 28th. They issued a “hold” rating and a $7.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat, Global Net Lease presently has an average rating of “Hold” and a consensus target price of $12.00.

Global Net Lease Company Profile

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.