Illinois Municipal Retirement Fund Raises Stock Holdings in Global Net Lease, Inc. (NYSE:GNL)

Illinois Municipal Retirement Fund grew its stake in Global Net Lease, Inc. (NYSE:GNL) by 71.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 107,744 shares of the financial services provider’s stock after acquiring an additional 44,788 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Global Net Lease were worth $1,072,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. lifted its position 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 valued at $295,700,000 after acquiring an additional 14,033,117 shares in the last quarter. Citigroup Inc. lifted its position in shares of Global Net Lease by 69.2% in the third quarter. Citigroup Inc. now owns 160,515 shares of the financial services provider’s stock valued at $1,543,000 after acquiring an additional 65,620 shares in the last quarter. Northern Trust Corp lifted its position in shares of Global Net Lease by 83.8% in the third quarter. Northern Trust Corp now owns 2,217,620 shares of the financial services provider’s stock valued at $21,311,000 after acquiring an additional 1,011,160 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Global Net Lease by 93.1% in the third 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 acquiring an additional 1,686,201 shares in the last quarter. Finally, Deutsche Bank AG increased its stake in Global Net Lease by 142.1% in the third quarter. Deutsche Bank AG now owns 216,084 shares of the financial services provider’s stock valued at $2,077,000 after purchasing an additional 126,837 shares during the last quarter. 61.19% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

GNL has been the subject of several analyst reports. JMP Securities reiterated a “market perform” rating on shares of Global Net Lease in a research note on Thursday, April 18th. BTIG Research lowered Global Net Lease from a “buy” rating to a “neutral” rating in a research note on Friday, March 8th. Truist Financial initiated coverage on Global Net Lease in a research note on Thursday, March 28th. They issued a “hold” rating and a $7.00 target price for the company. Finally, BMO Capital Markets initiated coverage on Global Net Lease in a research note on Tuesday, February 13th. They issued an “outperform” rating and a $11.00 target price for the company. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $12.00.

Global Net Lease Price Performance

Shares of NYSE:GNL opened at $6.91 on Friday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.05 and a current ratio of 0.05. The business has a 50-day moving average of $7.31 and a two-hundred day moving average of $8.28. Global Net Lease, Inc. has a 12 month low of $6.52 and a 12 month high of $11.58.

Global Net Lease Increases Dividend

The company also recently declared 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 is a positive change from Global Net Lease’s previous quarterly dividend of $0.06. This represents a $1.10 annualized dividend and a yield of 15.92%. Global Net Lease’s dividend payout ratio is currently -63.58%.

About Global Net Lease

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.