Cambria Investment Management L.P. Sells 2,424 Shares of Global Net Lease, Inc. (NYSE:GNL)

Cambria Investment Management L.P. lowered its position in Global Net Lease, Inc. (NYSE:GNL) by 9.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 23,028 shares of the financial services provider’s stock after selling 2,424 shares during the period. Cambria Investment Management L.P.’s holdings in Global Net Lease were worth $237,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Global Net Lease by 3.5% in the first quarter. Vanguard Group Inc. now owns 17,259,116 shares of the financial services provider’s stock worth $271,487,000 after acquiring an additional 587,321 shares during the period. State Street Corp grew its holdings in shares of Global Net Lease by 14.5% in the first quarter. State Street Corp now owns 6,640,651 shares of the financial services provider’s stock worth $104,457,000 after acquiring an additional 839,449 shares during the period. Invesco Ltd. grew its holdings in shares of Global Net Lease by 2.3% in the first quarter. Invesco Ltd. now owns 2,575,903 shares of the financial services provider’s stock worth $40,519,000 after acquiring an additional 58,808 shares during the period. LSV Asset Management grew its holdings in shares of Global Net Lease by 17.8% in the second quarter. LSV Asset Management now owns 2,297,158 shares of the financial services provider’s stock worth $23,615,000 after acquiring an additional 347,000 shares during the period. Finally, Geode Capital Management LLC grew its holdings in Global Net Lease by 4.1% during the first quarter. Geode Capital Management LLC now owns 2,243,621 shares of the financial services provider’s stock valued at $28,853,000 after purchasing an additional 88,762 shares during the period. Institutional investors own 75.56% of the company’s stock.

Global Net Lease Price Performance

NYSE:GNL opened at $8.88 on Friday. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $2.04 billion, a P/E ratio of -5.41, a P/E/G ratio of 1.02 and a beta of 1.35. Global Net Lease, Inc. has a 12 month low of $7.56 and a 12 month high of $15.28. The business’s 50-day moving average is $8.94 and its 200 day moving average is $10.04.

Global Net Lease Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 16th. Shareholders of record on Thursday, October 12th were given a dividend of $0.354 per share. The ex-dividend date was Wednesday, October 11th. This is an increase from Global Net Lease’s previous quarterly dividend of $0.06. This represents a $1.42 dividend on an annualized basis and a yield of 15.95%. Global Net Lease’s dividend payout ratio is -85.98%.

Analysts Set New Price Targets

Several analysts have issued reports on GNL shares. BTIG Research cut their price target on Global Net Lease from $19.00 to $15.00 and set a “buy” rating for the company in a report on Monday, September 18th. TheStreet lowered Global Net Lease from a “c-” rating to a “d+” rating in a report on Thursday, October 12th. Finally, StockNews.com lowered Global Net Lease from a “hold” rating to a “sell” rating in a report on Friday, November 10th.

Global Net Lease Profile

Global Net Lease, Inc (NYSE: GNL) is a publicly traded real estate investment trust listed on the NYSE. They are 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.