Geode Capital Management LLC Increases Stake in Global Net Lease, Inc. (NYSE:GNL)

Geode Capital Management LLC raised its stake in shares of Global Net Lease, Inc. (NYSE:GNL) by 0.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,095,295 shares of the financial services provider’s stock after acquiring an additional 1,636 shares during the quarter. Geode Capital Management LLC owned approximately 2.21% of Global Net Lease worth $37,204,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. US Bancorp DE raised its stake in shares of Global Net Lease by 363.2% in the fourth quarter. US Bancorp DE now owns 6,072 shares of the financial services provider’s stock worth $44,000 after purchasing an additional 4,761 shares during the last quarter. Creative Financial Designs Inc. ADV lifted its holdings in shares of Global Net Lease by 119.4% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 6,659 shares of the financial services provider’s stock valued at $49,000 after buying an additional 3,624 shares during the period. McIlrath & Eck LLC purchased a new stake in Global Net Lease during the third quarter worth $67,000. Allworth Financial LP raised its position in shares of Global Net Lease by 157.6% in the fourth quarter. Allworth Financial LP now owns 10,314 shares of the financial services provider’s stock worth $74,000 after acquiring an additional 6,310 shares during the period. Finally, HB Wealth Management LLC purchased a new position in shares of Global Net Lease in the 4th quarter valued at about $81,000. 61.19% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Global Net Lease news, major shareholder Nicholas S. Schorsch sold 200,000 shares of the business’s stock in a transaction on Thursday, April 3rd. The stock was sold at an average price of $7.95, for a total value of $1,590,000.00. Following the completion of the transaction, the insider now directly owns 1,629,073 shares in the company, valued at approximately $12,951,130.35. The trade was a 10.93 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.31% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have commented on GNL. Citizens Jmp upgraded Global Net Lease from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 17th. JMP Securities raised shares of Global Net Lease from a “market perform” rating to an “outperform” rating and set a $9.00 price objective for the company in a research note on Tuesday, December 17th. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $9.50.

Global Net Lease Stock Up 4.0 %

GNL stock opened at $7.49 on Wednesday. Global Net Lease, Inc. has a one year low of $6.51 and a one year high of $9.11. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.06 and a current ratio of 0.06. The company has a fifty day moving average of $7.60 and a 200-day moving average of $7.57. The stock has a market capitalization of $1.71 billion, a PE ratio of -7.96 and a beta of 1.19.

Global Net Lease Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 16th. Investors of record on Friday, April 11th will be issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 10.15%. The ex-dividend date is Friday, April 11th. Global Net Lease’s dividend payout ratio is currently -100.00%.

About Global Net Lease

Global Net Lease, Inc (NYSE: GNL) is a publicly traded real estate investment trust listed on the NYSE. The firm 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.