Rhumbline Advisers Buys 22,390 Shares of Global Net Lease, Inc. (NYSE:GNL)

Rhumbline Advisers boosted its holdings in Global Net Lease, Inc. (NYSE:GNL) by 3.3% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 695,304 shares of the financial services provider’s stock after buying an additional 22,390 shares during the quarter. Rhumbline Advisers owned 0.30% of Global Net Lease worth $5,076,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. American Capital Advisory LLC purchased a new position in shares of Global Net Lease in the third quarter valued at about $34,000. McIlrath & Eck LLC bought a new position in Global Net Lease during the third quarter valued at $67,000. KBC Group NV grew its stake in shares of Global Net Lease by 37.4% in the 3rd quarter. KBC Group NV now owns 9,311 shares of the financial services provider’s stock worth $78,000 after buying an additional 2,535 shares in the last quarter. HB Wealth Management LLC bought a new position in shares of Global Net Lease in the 4th quarter valued at about $81,000. Finally, Private Advisor Group LLC purchased a new position in Global Net Lease in the third quarter worth about $92,000. 61.19% of the stock is currently owned by hedge funds and other institutional investors.

Global Net Lease Price Performance

Shares of NYSE GNL opened at $7.55 on Friday. Global Net Lease, Inc. has a 52 week low of $6.52 and a 52 week high of $9.10. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 0.70. The firm has a market cap of $1.74 billion, a P/E ratio of -8.03 and a beta of 1.34. The business’s 50 day moving average price is $7.22 and its 200 day moving average price is $7.77.

Global Net Lease Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, January 16th. Shareholders of record on Monday, January 13th were given a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 14.58%. The ex-dividend date was Monday, January 13th. Global Net Lease’s dividend payout ratio is currently -117.02%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on GNL shares. 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 target price on shares of Global Net Lease from $8.50 to $8.00 and set a “hold” rating on the stock in a 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 target for the company in a research report on Tuesday, December 17th. Three equities research 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 stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus 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.