Global Net Lease, Inc. $GNL Stock Position Reduced by Advisors Asset Management Inc.

Advisors Asset Management Inc. reduced its stake in shares of Global Net Lease, Inc. (NYSE:GNL) by 20.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,034,011 shares of the financial services provider’s stock after selling 271,709 shares during the quarter. Advisors Asset Management Inc. owned about 0.47% of Global Net Lease worth $8,407,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Corient Private Wealth LLC raised its holdings in Global Net Lease by 4,854.4% during the 2nd quarter. Corient Private Wealth LLC now owns 2,263,808 shares of the financial services provider’s stock worth $17,092,000 after buying an additional 2,218,115 shares during the period. Brown Advisory Inc. lifted its stake in shares of Global Net Lease by 83.5% in the second quarter. Brown Advisory Inc. now owns 4,229,269 shares of the financial services provider’s stock valued at $31,931,000 after buying an additional 1,924,238 shares during the period. Conversant Capital LLC boosted its position in shares of Global Net Lease by 69.9% during the 2nd quarter. Conversant Capital LLC now owns 4,343,500 shares of the financial services provider’s stock valued at $32,793,000 after acquiring an additional 1,786,902 shares in the last quarter. Marshall Wace LLP acquired a new stake in shares of Global Net Lease during the 2nd quarter worth about $7,525,000. Finally, Greenland Capital Management LP bought a new stake in Global Net Lease during the 2nd quarter worth about $3,033,000. 61.19% of the stock is currently owned by institutional investors.

Global Net Lease Stock Performance

NYSE GNL opened at $9.88 on Thursday. The firm has a market cap of $2.16 billion, a price-to-earnings ratio of -6.91 and a beta of 1.13. Global Net Lease, Inc. has a 12-month low of $6.51 and a 12-month high of $10.01. The company has a quick ratio of 0.15, a current ratio of 0.15 and a debt-to-equity ratio of 0.93. The company has a 50-day simple moving average of $8.93 and a two-hundred day simple moving average of $8.20.

Global Net Lease Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 16th. Shareholders of record on Monday, January 12th were given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 7.7%. The ex-dividend date of this dividend was Monday, January 12th. Global Net Lease’s payout ratio is -53.15%.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Cantor Fitzgerald raised shares of Global Net Lease to a “strong-buy” rating in a research note on Wednesday, February 4th. Wall Street Zen downgraded Global Net Lease from a “hold” rating to a “sell” rating in a research report on Saturday, February 7th. Citizens Jmp lifted their price target on shares of Global Net Lease from $9.00 to $10.00 and gave the company a “market outperform” rating in a report on Monday, January 12th. Finally, Citigroup reissued an “outperform” rating on shares of Global Net Lease in a research note on Monday, January 12th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $9.83.

Global Net Lease Company Profile

Global Net Lease (NYSE: GNL) is a real estate investment trust (REIT) that focuses on acquiring and managing a diversified portfolio of single-tenant, net-lease commercial properties. The company’s business model centers on establishing long-term, triple-net leases with creditworthy tenants, enabling the pass-through of property operating expenses while aiming to provide predictable rental income and stable cash flows. Global Net Lease’s portfolio spans retail, industrial, office and light-industrial assets, each selected for its strategic location and tenant credit quality.

Since launching its initial public offering in April 2016, Global Net Lease has built a presence in key markets throughout the United States and Western Europe.