Cadence Bank bought a new stake in shares of Global Net Lease, Inc. (NYSE:GNL – Free Report) in the first quarter, HoldingsChannel reports. The institutional investor bought 20,500 shares of the financial services provider’s stock, valued at approximately $159,000.
Other institutional investors have also recently modified their holdings of the company. Corient Private Wealth LLC lifted its position in shares of Global Net Lease by 3,410.4% during the 4th quarter. Corient Private Wealth LLC now owns 2,688,951 shares of the financial services provider’s stock valued at $26,755,000 after acquiring an additional 2,612,351 shares during the period. Vanguard Group Inc. lifted its position in shares of Global Net Lease by 83.8% during the 3rd quarter. Vanguard Group Inc. now owns 30,770,077 shares of the financial services provider’s stock valued at $295,700,000 after acquiring an additional 14,033,117 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Global Net Lease by 25.9% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,236,299 shares of the financial services provider’s stock valued at $17,376,000 after acquiring an additional 460,717 shares during the period. CastleKnight Management LP raised its holdings in shares of Global Net Lease by 59.2% during the 4th quarter. CastleKnight Management LP now owns 1,164,081 shares of the financial services provider’s stock worth $11,583,000 after buying an additional 432,729 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. raised its holdings in shares of Global Net Lease by 1.4% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 219,851 shares of the financial services provider’s stock worth $2,188,000 after buying an additional 3,044 shares in the last quarter. 61.19% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of research firms have recently commented on GNL. Truist Financial began coverage on Global Net Lease in a report on Thursday, March 28th. They set a “hold” rating and a $7.00 price target for the company. JMP Securities reissued a “market perform” rating on shares of Global Net Lease in a report on Wednesday, June 12th. Finally, BMO Capital Markets reissued an “outperform” rating and set a $11.00 price target on shares of Global Net Lease in a report on Friday, June 28th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $11.00.
Global Net Lease Price Performance
GNL traded up $0.23 on Friday, reaching $8.96. The stock had a trading volume of 1,099,340 shares, compared to its average volume of 1,547,244. Global Net Lease, Inc. has a fifty-two week low of $6.52 and a fifty-two week high of $11.58. The firm has a 50-day moving average of $7.61 and a 200-day moving average of $7.71. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.70. The company has a market capitalization of $2.06 billion, a price-to-earnings ratio of -4.85, a price-to-earnings-growth ratio of 1.12 and a beta of 1.38.
Global Net Lease Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, July 16th. Shareholders of record on Thursday, July 11th were issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 12.28%. The ex-dividend date of this dividend was Thursday, July 11th. This is a boost from Global Net Lease’s previous quarterly dividend of $0.06. Global Net Lease’s dividend payout ratio is presently -60.44%.
Insiders Place Their Bets
In other Global Net Lease news, major shareholder Nicholas S. Schorsch sold 100,000 shares of the company’s stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $7.02, for a total value of $702,000.00. Following the completion of the transaction, the insider now owns 1,829,073 shares of the company’s stock, valued at approximately $12,840,092.46. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, major shareholder Nicholas S. Schorsch sold 100,000 shares of the stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $7.02, for a total value of $702,000.00. Following the completion of the sale, the insider now owns 1,829,073 shares of the company’s stock, valued at $12,840,092.46. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Nicholas S. Schorsch sold 150,000 shares of the stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $7.19, for a total value of $1,078,500.00. Following the completion of the sale, the insider now directly owns 2,079,073 shares of the company’s stock, valued at approximately $14,948,534.87. The disclosure for this sale can be found here. Insiders sold a total of 1,043,070 shares of company stock valued at $7,497,437 in the last 90 days. Corporate insiders own 0.31% of the company’s stock.
Global Net Lease Profile
Global Net Lease, Inc (NYSE: GNL) is a publicly traded real estate investment trust listed on the NYSE 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.
See Also
- Five stocks we like better than Global Net Lease
- How to Calculate Retirement Income: MarketBeat’s Calculator
- 3M Surprises and Rebound Accelerates: It Isn’t Too Late To Get In
- Dividend Payout Ratio Calculator
- Skechers Stock Shows Strength Among Consumer Discretionary Sector
- Insider Buying Explained: What Investors Need to Know
- Tech Stocks Tumble, These Stocks Present Buying Opportunity
Want to see what other hedge funds are holding GNL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Global Net Lease, Inc. (NYSE:GNL – Free Report).
Receive News & Ratings for Global Net Lease Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Global Net Lease and related companies with MarketBeat.com's FREE daily email newsletter.