Louisiana State Employees Retirement System Buys Shares of 98,000 Global Net Lease, Inc. (NYSE:GNL)

Louisiana State Employees Retirement System bought a new stake in Global Net Lease, Inc. (NYSE:GNL) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 98,000 shares of the financial services provider’s stock, valued at approximately $975,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in Global Net Lease by 83.8% in the third quarter. Vanguard Group Inc. now owns 30,770,077 shares of the financial services provider’s stock worth $295,700,000 after acquiring an additional 14,033,117 shares in the last quarter. Citigroup Inc. lifted its holdings in Global Net Lease by 69.2% in the third quarter. Citigroup Inc. now owns 160,515 shares of the financial services provider’s stock valued at $1,543,000 after acquiring an additional 65,620 shares during the period. Northern Trust Corp lifted its holdings in Global Net Lease by 83.8% in the third quarter. Northern Trust Corp now owns 2,217,620 shares of the financial services provider’s stock valued at $21,311,000 after acquiring an additional 1,011,160 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Global Net Lease by 93.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,497,508 shares of the financial services provider’s stock valued at $33,611,000 after acquiring an additional 1,686,201 shares during the period. Finally, Deutsche Bank AG lifted its holdings in Global Net Lease by 142.1% in the third quarter. Deutsche Bank AG now owns 216,084 shares of the financial services provider’s stock valued at $2,077,000 after acquiring an additional 126,837 shares during the period. Hedge funds and other institutional investors own 61.19% of the company’s stock.

Insiders Place Their Bets

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 stock was sold at an average price of $8.90, for a total transaction of $43,049.30. Following the transaction, 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 filing with the Securities & Exchange Commission, which is accessible through this link. 0.22% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

GNL has been the subject of a number of recent analyst reports. BMO Capital Markets initiated coverage on Global Net Lease in a research report on Tuesday, February 13th. They issued an “outperform” rating and a $11.00 price objective for the company. BTIG Research cut Global Net Lease from a “buy” rating to a “neutral” rating in a research report on Friday, March 8th. JMP Securities restated a “market perform” rating on shares of Global Net Lease in a research report on Thursday, April 18th. Finally, Truist Financial initiated coverage on Global Net Lease in a research report on Thursday, March 28th. They issued a “hold” rating and a $7.00 price objective for the company. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $12.00.

Global Net Lease Stock Performance

NYSE GNL opened at $6.96 on Thursday. The stock’s fifty day moving average is $7.38 and its two-hundred day moving average is $8.32. The firm has a market capitalization of $1.60 billion, a P/E ratio of -4.01, a price-to-earnings-growth ratio of 0.88 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 fifty-two week low of $6.52 and a fifty-two week high of $11.58.

Global Net Lease Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 16th. Shareholders of record on Thursday, April 11th were paid a dividend of $0.275 per share. The ex-dividend date was Wednesday, April 10th. This represents a $1.10 dividend on an annualized basis and a yield of 15.82%. This is a positive change from Global Net Lease’s previous quarterly dividend of $0.06. Global Net Lease’s payout ratio is -63.58%.

Global Net Lease 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.