Sumitomo Mitsui Trust Group Inc. Grows Holdings in Global Net Lease, Inc. (NYSE:GNL)

Sumitomo Mitsui Trust Group Inc. grew its holdings in Global Net Lease, Inc. (NYSE:GNL) by 3.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 218,427 shares of the financial services provider’s stock after purchasing an additional 8,041 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.09% of Global Net Lease worth $1,595,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. American Capital Advisory LLC purchased a new position in shares of Global Net Lease during the third quarter valued at $34,000. GAMMA Investing LLC increased its stake in shares of Global Net Lease by 60.1% during the third quarter. GAMMA Investing LLC now owns 5,054 shares of the financial services provider’s stock valued at $43,000 after buying an additional 1,897 shares during the period. McIlrath & Eck LLC purchased a new position in shares of Global Net Lease during the third quarter valued at $67,000. KBC Group NV increased its stake in shares of Global Net Lease by 37.4% during the third quarter. KBC Group NV now owns 9,311 shares of the financial services provider’s stock valued at $78,000 after buying an additional 2,535 shares during the period. Finally, HB Wealth Management LLC purchased a new position in shares of Global Net Lease during the fourth quarter valued at $81,000. Hedge funds and other institutional investors own 61.19% of the company’s stock.

Global Net Lease Price Performance

Shares of GNL stock opened at $7.12 on Friday. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.06 and a quick ratio of 0.06. The company has a market cap of $1.64 billion, a P/E ratio of -7.57 and a beta of 1.34. The stock’s 50-day moving average is $7.20 and its 200 day moving average is $7.83. Global Net Lease, Inc. has a 1-year low of $6.52 and a 1-year high of $9.10.

Global Net Lease Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 16th. Shareholders of record on Monday, January 13th were issued a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 15.46%. The ex-dividend date of this dividend was Monday, January 13th. Global Net Lease’s dividend payout ratio is presently -117.02%.

Analysts Set New Price Targets

GNL has been the topic of a number of recent research reports. Citizens Jmp raised Global Net Lease from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 17th. Truist Financial dropped their price objective on Global Net Lease from $8.50 to $8.00 and set a “hold” rating on the stock in a research report on Friday, November 29th. Finally, JMP Securities raised Global Net Lease from a “market perform” rating to an “outperform” rating and set a $9.00 price objective on the stock in a research report on Tuesday, December 17th. Three investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Global Net Lease has an average rating of “Moderate Buy” and an average target price of $9.50.

About Global Net Lease

Global Net Lease, Inc (NYSE: GNL) is a publicly traded real estate investment trust listed on the NYSE. The firm 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.