98,000 Shares in Global Net Lease, Inc. (NYSE:GNL) Bought by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System bought a new position in Global Net Lease, Inc. (NYSE:GNL) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 98,000 shares of the financial services provider’s stock, valued at approximately $975,000.

Several other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Global Net Lease by 83.8% in the third quarter. Vanguard Group Inc. now owns 30,770,077 shares of the financial services provider’s stock worth $295,700,000 after buying an additional 14,033,117 shares during the period. Hsbc Holdings PLC increased its position in Global Net Lease by 8,487.0% during the 3rd quarter. Hsbc Holdings PLC now owns 4,832,588 shares of the financial services provider’s stock valued at $46,536,000 after purchasing an additional 4,776,310 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in Global Net Lease by 80.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,991,844 shares of the financial services provider’s stock valued at $38,362,000 after purchasing an additional 1,778,131 shares during the period. LSV Asset Management increased its position in Global Net Lease by 65.9% during the 3rd quarter. LSV Asset Management now owns 3,811,477 shares of the financial services provider’s stock valued at $36,628,000 after purchasing an additional 1,514,319 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in Global Net Lease by 93.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,497,508 shares of the financial services provider’s stock valued at $33,611,000 after purchasing an additional 1,686,201 shares during the period. 61.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

GNL has been the topic of a number of research analyst reports. BTIG Research downgraded shares of Global Net Lease from a “buy” rating to a “neutral” rating in a research report on Friday, March 8th. Truist Financial initiated coverage on shares of Global Net Lease in a research report on Thursday, March 28th. They set a “hold” rating and a $7.00 price objective on the stock. JMP Securities reissued a “market perform” rating on shares of Global Net Lease in a research report on Thursday, April 18th. Finally, BMO Capital Markets assumed coverage on shares of Global Net Lease in a research report on Tuesday, February 13th. They set an “outperform” rating and a $11.00 price objective on the stock. 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. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $12.00.

Insider Activity

In other news, major shareholder Nicholas S. Schorsch sold 4,837 shares of the company’s stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $8.90, for a total transaction of $43,049.30. Following the completion of the sale, the insider now owns 3,861,472 shares of the company’s stock, valued at approximately $34,367,100.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.22% of the company’s stock.

Global Net Lease Stock Performance

Shares of Global Net Lease stock opened at $6.96 on Thursday. The stock has a market cap of $1.60 billion, a price-to-earnings ratio of -4.01, a PEG ratio of 0.88 and a beta of 1.34. The firm’s 50-day moving average is $7.38 and its 200 day moving average is $8.32. 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 0.66, a current ratio of 0.05 and a quick ratio of 0.05.

Global Net Lease Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 16th. Shareholders of record on Thursday, April 11th were paid a dividend of $0.275 per share. The ex-dividend date of this dividend was Wednesday, April 10th. This represents a $1.10 annualized dividend and a yield of 15.82%. This is a boost from Global Net Lease’s previous quarterly dividend of $0.06. Global Net Lease’s dividend payout ratio is currently -63.58%.

Global Net Lease Company 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.