Global Net Lease, Inc. $GNL Shares Sold by Citigroup Inc.

Citigroup Inc. trimmed its holdings in Global Net Lease, Inc. (NYSE:GNL) by 14.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,133,998 shares of the financial services provider’s stock after selling 184,021 shares during the period. Citigroup Inc. owned about 0.51% of Global Net Lease worth $9,219,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Eastern Bank bought a new stake in shares of Global Net Lease in the third quarter worth $33,000. Northwestern Mutual Wealth Management Co. grew its holdings in Global Net Lease by 180.4% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 5,953 shares of the financial services provider’s stock worth $45,000 after acquiring an additional 3,830 shares in the last quarter. AlphaQuest LLC bought a new stake in shares of Global Net Lease in the 2nd quarter worth about $59,000. Hantz Financial Services Inc. increased its position in shares of Global Net Lease by 117.0% in the 3rd quarter. Hantz Financial Services Inc. now owns 10,135 shares of the financial services provider’s stock worth $82,000 after purchasing an additional 5,465 shares during the last quarter. Finally, TT Capital Management LLC acquired a new stake in shares of Global Net Lease in the 2nd quarter valued at about $77,000. 61.19% of the stock is currently owned by hedge funds and other institutional investors.

Global Net Lease Trading Down 0.6%

Shares of NYSE GNL opened at $9.42 on Monday. Global Net Lease, Inc. has a 12-month low of $6.51 and a 12-month high of $10.04. The company has a market cap of $2.02 billion, a price-to-earnings ratio of -7.92 and a beta of 1.11. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.19. The stock’s 50 day simple moving average is $9.27 and its 200 day simple moving average is $8.42.

Global Net Lease Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 16th. Stockholders of record on Monday, January 12th were given a dividend of $0.19 per share. The ex-dividend date was Monday, January 12th. This represents a $0.76 annualized dividend and a dividend yield of 8.1%. Global Net Lease’s dividend payout ratio is currently -63.87%.

Analyst Ratings Changes

GNL has been the subject of a number of research reports. Cantor Fitzgerald upgraded Global Net Lease to a “strong-buy” rating in a research note on Wednesday, February 4th. Citizens Jmp lifted their target price on Global Net Lease from $9.00 to $10.00 and gave the stock a “market outperform” rating in a research report on Monday, January 12th. Citigroup reiterated an “outperform” rating on shares of Global Net Lease in a report on Monday, January 12th. Finally, Wall Street Zen raised Global Net Lease from a “sell” rating to a “buy” rating in a research report on Saturday. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $10.00.

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.