Mackenzie Financial Corp Trims Stake in Global Net Lease, Inc. (NYSE:GNL)

Mackenzie Financial Corp cut its holdings in Global Net Lease, Inc. (NYSE:GNL) by 40.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,683 shares of the financial services provider’s stock after selling 19,183 shares during the quarter. Mackenzie Financial Corp’s holdings in Global Net Lease were worth $285,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the business. Beaird Harris Wealth Management LLC purchased a new position in shares of Global Net Lease during the third quarter valued at approximately $26,000. Gradient Investments LLC boosted its holdings in 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 acquiring an additional 1,463 shares in the last quarter. Turtle Creek Wealth Advisors LLC bought a new stake in Global Net Lease in the fourth quarter worth $31,000. Spire Wealth Management grew 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 acquiring an additional 2,274 shares during the last quarter. Finally, Wolff Wiese Magana LLC bought a new position in shares of Global Net Lease during the third quarter valued at $34,000. Institutional investors own 61.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts 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. Truist Financial started coverage on shares of Global Net Lease in a report on Thursday, March 28th. They set a “hold” rating and a $7.00 price target on the stock. JMP Securities restated a “market perform” rating on shares of Global Net Lease in a report on Thursday, April 18th. Finally, BMO Capital Markets assumed coverage on Global Net Lease in a research report on Tuesday, February 13th. They issued an “outperform” rating and a $11.00 price objective on the stock. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, Global Net Lease presently has an average rating of “Hold” and an average target price of $12.00.

Global Net Lease Trading Down 0.1 %

NYSE:GNL opened at $6.91 on Friday. The company has a market cap of $1.60 billion, a PE ratio of -3.99, a price-to-earnings-growth ratio of 0.89 and a beta of 1.34. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.66. The company has a 50 day simple moving average of $7.31 and a two-hundred day simple moving average of $8.29. Global Net Lease, Inc. has a 12 month low of $6.52 and a 12 month high of $11.58.

Global Net Lease Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 16th. Investors of record on Thursday, April 11th were given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 15.92%. The ex-dividend date of this dividend was Wednesday, April 10th. This is a boost from Global Net Lease’s previous quarterly dividend of $0.06. Global Net Lease’s dividend 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.