Sigma Planning Corp Reduces Stock Position in Global Net Lease, Inc. (NYSE:GNL)

Sigma Planning Corp cut its stake in Global Net Lease, Inc. (NYSE:GNL) by 68.3% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 13,892 shares of the financial services provider’s stock after selling 29,911 shares during the quarter. Sigma Planning Corp’s holdings in Global Net Lease were worth $138,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. IFP Advisors Inc grew its holdings in Global Net Lease by 982.8% during the 3rd quarter. IFP Advisors Inc now owns 4,797 shares of the financial services provider’s stock valued at $46,000 after buying an additional 4,354 shares in the last quarter. SG Americas Securities LLC grew its stake in Global Net Lease by 1,020.9% during the third quarter. SG Americas Securities LLC now owns 123,844 shares of the financial services provider’s stock valued at $1,190,000 after acquiring an additional 112,795 shares in the last quarter. Asset Management One Co. Ltd. increased its holdings in Global Net Lease by 73.1% during the 3rd quarter. Asset Management One Co. Ltd. now owns 301,045 shares of the financial services provider’s stock worth $2,893,000 after acquiring an additional 127,159 shares during the period. Patriot Financial Group Insurance Agency LLC bought a new position in Global Net Lease in the 3rd quarter valued at $144,000. Finally, Commonwealth Equity Services LLC grew its position in shares of Global Net Lease by 66.0% during the 3rd quarter. Commonwealth Equity Services LLC now owns 270,819 shares of the financial services provider’s stock valued at $2,603,000 after purchasing an additional 107,680 shares in the last quarter. 61.19% of the stock is currently owned by institutional investors.

Global Net Lease Stock Performance

NYSE:GNL opened at $7.00 on Tuesday. The company has a market capitalization of $1.62 billion, a price-to-earnings ratio of -4.05, a PEG ratio of 0.89 and a beta of 1.34. The business has a 50 day moving average of $7.29 and a 200 day moving average of $8.28. 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, Inc. has a 1-year low of $6.52 and a 1-year high of $11.58.

Global Net Lease Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 16th. Stockholders of record on Thursday, April 11th were issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 15.71%. This is a positive change from Global Net Lease’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend was Wednesday, April 10th. Global Net Lease’s payout ratio is presently -63.58%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on GNL. Truist Financial assumed coverage on Global Net Lease in a research report on Thursday, March 28th. They issued a “hold” rating and a $7.00 price objective on the stock. BMO Capital Markets assumed coverage on shares of Global Net Lease in a research report on Tuesday, February 13th. They issued an “outperform” rating and a $11.00 price objective on the stock. JMP Securities reiterated a “market perform” rating on shares of Global Net Lease in a research report on Thursday, April 18th. Finally, BTIG Research cut shares of Global Net Lease from a “buy” rating to a “neutral” rating in a research note on Friday, March 8th. 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $12.00.

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.