BTC Capital Management Inc. Purchases Shares of 38,913 Global Net Lease, Inc. (NYSE:GNL)

BTC Capital Management Inc. acquired a new position in shares of Global Net Lease, Inc. (NYSE:GNL) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 38,913 shares of the financial services provider’s stock, valued at approximately $302,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in Global Net Lease by 10.3% during the fourth quarter. Vanguard Group Inc. now owns 33,932,387 shares of the financial services provider’s stock worth $337,627,000 after buying an additional 3,162,310 shares in the last quarter. Hsbc Holdings PLC grew its stake in shares of Global Net Lease by 8,487.0% in the 3rd quarter. Hsbc Holdings PLC now owns 4,832,588 shares of the financial services provider’s stock worth $46,536,000 after acquiring an additional 4,776,310 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Global Net Lease by 5.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,698,157 shares of the financial services provider’s stock valued at $36,797,000 after purchasing an additional 200,649 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Global Net Lease by 3.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,724,873 shares of the financial services provider’s stock valued at $27,113,000 after purchasing an additional 92,391 shares during the last quarter. Finally, Corient Private Wealth LLC lifted its position in shares of Global Net Lease by 3,410.4% during the fourth quarter. Corient Private Wealth LLC now owns 2,688,951 shares of the financial services provider’s stock valued at $26,755,000 after purchasing an additional 2,612,351 shares in the last quarter. 61.19% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Global Net Lease

In related news, major shareholder Nicholas S. Schorsch sold 200,000 shares of the business’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $7.16, for a total value of $1,432,000.00. Following the sale, the insider now directly owns 3,201,694 shares in the company, valued at approximately $22,924,129.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, major shareholder Nicholas S. Schorsch sold 200,000 shares of Global Net Lease stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $7.16, for a total value of $1,432,000.00. Following the completion of the transaction, the insider now directly owns 3,201,694 shares in the company, valued at approximately $22,924,129.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Nicholas S. Schorsch sold 159,720 shares of the stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $7.32, for a total value of $1,169,150.40. Following the sale, the insider now owns 3,546,752 shares in the company, valued at approximately $25,962,224.64. The disclosure for this sale can be found here. 0.31% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. JMP Securities reaffirmed a “market perform” rating on shares of Global Net Lease in a research report on Wednesday, June 12th. BTIG Research lowered Global Net Lease from a “buy” rating to a “neutral” rating in a report on Friday, March 8th. Finally, Truist Financial initiated coverage on Global Net Lease in a report on Thursday, March 28th. They set a “hold” rating and a $7.00 price target on the stock. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $11.00.

Global Net Lease Trading Down 0.4 %

NYSE:GNL opened at $7.12 on Friday. The firm’s 50 day moving average is $7.26 and its 200 day moving average is $7.99. Global Net Lease, Inc. has a 12 month low of $6.52 and a 12 month high of $11.58. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.70.

Global Net Lease Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 16th. Stockholders of record on Thursday, April 11th were given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 15.45%. The ex-dividend date was Wednesday, April 10th. This is a boost from Global Net Lease’s previous quarterly dividend of $0.06. Global Net Lease’s dividend payout ratio is currently -60.44%.

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.