Cambridge Investment Research Advisors Inc. lessened its holdings in Global Net Lease, Inc. (NYSE:GNL – Get Rating) by 3.9% in the fourth quarter, HoldingsChannel reports. The fund owned 191,514 shares of the financial services provider’s stock after selling 7,712 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Global Net Lease were worth $2,926,000 as of its most recent filing with the SEC.
Other institutional investors have also made changes to their positions in the company. Eagle Bay Advisors LLC boosted its position in shares of Global Net Lease by 150.0% in the third quarter. Eagle Bay Advisors LLC now owns 2,000 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 1,200 shares during the period. Kozak & Associates Inc. bought a new stake in shares of Global Net Lease in the third quarter valued at about $33,000. Ellevest Inc. boosted its position in shares of Global Net Lease by 51.0% in the fourth quarter. Ellevest Inc. now owns 4,098 shares of the financial services provider’s stock valued at $63,000 after acquiring an additional 1,384 shares during the period. Van ECK Associates Corp boosted its position in shares of Global Net Lease by 21.6% in the third quarter. Van ECK Associates Corp now owns 4,708 shares of the financial services provider’s stock valued at $75,000 after acquiring an additional 835 shares during the period. Finally, Penserra Capital Management LLC bought a new stake in shares of Global Net Lease in the third quarter valued at about $82,000. 69.31% of the stock is owned by institutional investors.
GNL stock opened at $15.08 on Friday. The company has a market cap of $1.57 billion, a PE ratio of -71.81, a price-to-earnings-growth ratio of 1.41 and a beta of 1.12. The business has a 50-day simple moving average of $14.97 and a 200 day simple moving average of $15.12. Global Net Lease, Inc. has a 52 week low of $13.52 and a 52 week high of $20.11. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.31.
The firm also recently announced a quarterly dividend, which was paid on Monday, April 18th. Shareholders of record on Monday, April 11th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 10.61%. The ex-dividend date of this dividend was Friday, April 8th. Global Net Lease’s payout ratio is -761.87%.
A number of brokerages have recently issued reports on GNL. BTIG Research reduced their target price on shares of Global Net Lease from $23.00 to $19.00 and set a “buy” rating for the company in a research report on Monday, March 14th. StockNews.com began coverage on Global Net Lease in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Finally, Zacks Investment Research raised Global Net Lease from a “hold” rating to a “buy” rating and set a $17.00 price target for the company in a research note on Friday. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $19.76.
Global Net Lease Company Profile (Get Rating)
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.
- Get a free copy of the StockNews.com research report on Global Net Lease (GNL)
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