JPMorgan Chase & Co. Raises Stock Holdings in Global Net Lease, Inc. $GNL

JPMorgan Chase & Co. raised its stake in Global Net Lease, Inc. (NYSE:GNL) by 8.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,153,817 shares of the financial services provider’s stock after buying an additional 85,304 shares during the quarter. JPMorgan Chase & Co. owned about 0.53% of Global Net Lease worth $9,381,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Louisiana State Employees Retirement System raised its stake in shares of Global Net Lease by 1.9% in the 3rd quarter. Louisiana State Employees Retirement System now owns 91,300 shares of the financial services provider’s stock valued at $742,000 after acquiring an additional 1,700 shares during the period. The Manufacturers Life Insurance Company boosted its position in shares of Global Net Lease by 1.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 154,190 shares of the financial services provider’s stock worth $1,164,000 after purchasing an additional 1,784 shares during the period. Amalgamated Bank increased its holdings in Global Net Lease by 3.4% in the 3rd quarter. Amalgamated Bank now owns 56,721 shares of the financial services provider’s stock valued at $461,000 after purchasing an additional 1,890 shares during the last quarter. Amundi increased its holdings in Global Net Lease by 2.0% in the 3rd quarter. Amundi now owns 101,123 shares of the financial services provider’s stock valued at $815,000 after purchasing an additional 1,966 shares during the last quarter. Finally, Brookstone Capital Management raised its position in Global Net Lease by 8.0% in the third quarter. Brookstone Capital Management now owns 27,303 shares of the financial services provider’s stock valued at $222,000 after purchasing an additional 2,013 shares during the period. Hedge funds and other institutional investors own 61.19% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Citigroup restated an “outperform” rating on shares of Global Net Lease in a research note on Monday, January 12th. Cantor Fitzgerald upgraded Global Net Lease to a “strong-buy” rating in a report on Wednesday, February 4th. Citizens Jmp increased their target price on Global Net Lease from $9.00 to $10.00 and gave the stock a “market outperform” rating in a research note on Monday, January 12th. Finally, Wall Street Zen cut Global Net Lease from a “buy” rating to a “hold” rating in a report on Saturday. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $10.00.

Global Net Lease Stock Performance

Shares of GNL opened at $9.17 on Monday. The stock has a 50-day simple moving average of $9.52 and a 200-day simple moving average of $8.64. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.09 and a current ratio of 0.09. The stock has a market capitalization of $1.96 billion, a PE ratio of -7.71 and a beta of 1.11. Global Net Lease, Inc. has a 1 year low of $6.51 and a 1 year high of $10.04.

Global Net Lease Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 16th. Shareholders of record on Monday, January 12th were issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 8.3%. The ex-dividend date was Monday, January 12th. Global Net Lease’s payout ratio is -63.87%.

About Global Net Lease

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.