Allianz Asset Management GmbH Reduces Stock Position in Global Net Lease, Inc. $GNL

Allianz Asset Management GmbH trimmed its stake in shares of Global Net Lease, Inc. (NYSE:GNL) by 27.5% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 190,971 shares of the financial services provider’s stock after selling 72,594 shares during the period. Allianz Asset Management GmbH owned approximately 0.09% of Global Net Lease worth $1,553,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GNL. Royal Bank of Canada grew its position in Global Net Lease by 60.7% in the 1st quarter. Royal Bank of Canada now owns 72,424 shares of the financial services provider’s stock worth $582,000 after purchasing an additional 27,352 shares during the period. Amundi lifted its holdings in shares of Global Net Lease by 12.3% during the 1st quarter. Amundi now owns 118,450 shares of the financial services provider’s stock valued at $924,000 after buying an additional 12,947 shares during the period. AQR Capital Management LLC boosted its stake in shares of Global Net Lease by 95.7% in the 1st quarter. AQR Capital Management LLC now owns 46,800 shares of the financial services provider’s stock worth $376,000 after buying an additional 22,885 shares during the last quarter. Jones Financial Companies Lllp purchased a new position in shares of Global Net Lease in the 1st quarter worth $296,000. Finally, United Services Automobile Association bought a new stake in shares of Global Net Lease in the first quarter worth $94,000. Institutional investors own 61.19% of the company’s stock.

Global Net Lease Price Performance

NYSE:GNL opened at $9.79 on Friday. The business’s 50-day simple moving average is $8.96 and its two-hundred day simple moving average is $8.21. Global Net Lease, Inc. has a 52 week low of $6.51 and a 52 week high of $10.04. The stock has a market cap of $2.15 billion, a PE ratio of -6.84 and a beta of 1.13. The company has a quick ratio of 0.15, a current ratio of 0.15 and a debt-to-equity ratio of 0.93.

Global Net Lease Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 16th. Investors of record on Monday, January 12th were issued a $0.19 dividend. The ex-dividend date of this dividend was Monday, January 12th. This represents a $0.76 dividend on an annualized basis and a yield of 7.8%. Global Net Lease’s payout ratio is currently -53.15%.

Analysts Set New Price Targets

GNL has been the topic of a number of recent research reports. Cantor Fitzgerald raised Global Net Lease to a “strong-buy” rating in a report on Wednesday, February 4th. Citizens Jmp boosted their price target on Global Net Lease from $9.00 to $10.00 and gave the company a “market outperform” rating in a research note on Monday, January 12th. Citigroup reaffirmed an “outperform” rating on shares of Global Net Lease in a research report on Monday, January 12th. Finally, Wall Street Zen downgraded shares of Global Net Lease from a “hold” rating to a “sell” rating in a report on Saturday, February 7th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $9.83.

Global Net Lease 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.