Advisors Asset Management Inc. raised its stake in Global Net Lease, Inc. (NYSE:GNL – Free Report) by 73.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 698,844 shares of the financial services provider’s stock after purchasing an additional 296,124 shares during the quarter. Advisors Asset Management Inc. owned about 0.30% of Global Net Lease worth $5,430,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in GNL. Vanguard Group Inc. lifted its holdings 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 in the last quarter. SG Americas Securities LLC lifted its holdings in shares of Global Net Lease by 6.2% during the 4th quarter. SG Americas Securities LLC now owns 131,480 shares of the financial services provider’s stock valued at $1,308,000 after acquiring an additional 7,636 shares in the last quarter. Mutual Advisors LLC lifted its holdings in shares of Global Net Lease by 21.0% during the 4th quarter. Mutual Advisors LLC now owns 21,781 shares of the financial services provider’s stock valued at $217,000 after acquiring an additional 3,774 shares in the last quarter. Realta Investment Advisors lifted its holdings in shares of Global Net Lease by 248.5% during the 4th quarter. Realta Investment Advisors now owns 34,112 shares of the financial services provider’s stock valued at $339,000 after acquiring an additional 24,325 shares in the last quarter. Finally, First Citizens Bank & Trust Co. acquired a new position in shares of Global Net Lease during the 4th quarter valued at $138,000. Institutional investors and hedge funds own 61.19% of the company’s stock.
Global Net Lease Stock Up 2.6 %
Global Net Lease stock traded up $0.23 during midday trading on Friday, hitting $8.96. 1,099,381 shares of the stock were exchanged, compared to its average volume of 1,591,343. The company has a 50 day moving average price of $7.63 and a two-hundred day moving average price of $7.70. The firm has a market cap of $2.06 billion, a P/E ratio of -4.92, a P/E/G ratio of 1.13 and a beta of 1.38. Global Net Lease, Inc. has a 1 year low of $6.52 and a 1 year high of $11.58. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.05 and a quick ratio of 0.05.
Global Net Lease Increases Dividend
Insider Transactions at Global Net Lease
In other news, major shareholder Nicholas S. Schorsch sold 100,000 shares of the business’s stock in a transaction dated Wednesday, June 26th. The shares were 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 approximately $12,840,092.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, major shareholder Nicholas S. Schorsch sold 100,000 shares of the business’s stock in a transaction dated Wednesday, June 26th. The shares were 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 approximately $12,840,092.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Nicholas S. Schorsch sold 150,000 shares of the business’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $7.19, for a total transaction 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. In the last 90 days, insiders sold 1,043,070 shares of company stock valued at $7,497,437. Insiders own 0.31% of the company’s stock.
Wall Street Analyst Weigh In
Several research firms recently issued reports on GNL. BMO Capital Markets reaffirmed an “outperform” rating and set a $11.00 price target on shares of Global Net Lease in a research note on Friday, June 28th. JMP Securities reaffirmed a “market perform” rating on shares of Global Net Lease in a research note on Wednesday, June 12th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $11.00.
View Our Latest Research Report on Global Net Lease
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.
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