Raymond James & Associates Reduces Holdings in Global Net Lease, Inc. (NYSE:GNL)

Raymond James & Associates cut its stake in shares of Global Net Lease, Inc. (NYSE:GNL) by 8.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 39,174 shares of the financial services provider’s stock after selling 3,620 shares during the quarter. Raymond James & Associates’ holdings in Global Net Lease were worth $390,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Beaird Harris Wealth Management LLC purchased a new stake in Global Net Lease during the 3rd quarter valued at about $26,000. Gradient Investments LLC boosted its holdings in Global Net Lease by 98.9% during the 3rd quarter. Gradient Investments LLC now owns 2,942 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 1,463 shares during the period. Spire Wealth Management boosted its holdings in Global Net Lease by 221.9% during the 3rd quarter. Spire Wealth Management now owns 3,299 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 2,274 shares during the period. Wolff Wiese Magana LLC purchased a new stake in Global Net Lease during the 3rd quarter valued at about $34,000. Finally, Raleigh Capital Management Inc. boosted its holdings in Global Net Lease by 59.1% during the 3rd quarter. Raleigh Capital Management Inc. now owns 4,249 shares of the financial services provider’s stock valued at $41,000 after acquiring an additional 1,579 shares during the period. 61.19% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on GNL. JMP Securities reiterated a “market perform” rating on shares of Global Net Lease in a report on Thursday, April 18th. BMO Capital Markets began coverage on Global Net Lease in a report on Tuesday, February 13th. They issued an “outperform” rating and a $11.00 price objective for the company. Truist Financial began coverage on Global Net Lease in a report on Thursday, March 28th. They issued a “hold” rating and a $7.00 price objective for the company. Finally, BTIG Research cut Global Net Lease from a “buy” rating to a “neutral” rating in a report on Friday, March 8th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $12.00.

Global Net Lease Trading Down 0.1 %

GNL opened at $6.91 on Friday. The stock has a market cap of $1.60 billion, a PE ratio of -3.99, a PEG ratio of 0.89 and a beta of 1.34. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.66. The business has a 50 day moving average of $7.31 and a 200-day moving average of $8.29. Global Net Lease, Inc. has a 52 week low of $6.52 and a 52 week high of $11.58.

Global Net Lease Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 16th. Stockholders of record on Thursday, April 11th were paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 15.92%. The ex-dividend date 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 (DPR) is presently -63.58%.

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.