Global Net Lease, Inc. (NYSE:GNL) Holdings Trimmed by Bank of New York Mellon Corp

Bank of New York Mellon Corp trimmed its position in shares of Global Net Lease, Inc. (NYSE:GNL) by 2.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,338,893 shares of the financial services provider’s stock after selling 35,594 shares during the period. Bank of New York Mellon Corp owned 0.58% of Global Net Lease worth $9,774,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. McIlrath & Eck LLC purchased a new position in Global Net Lease during the 3rd quarter worth approximately $67,000. KBC Group NV grew its position in Global Net Lease by 37.4% during the 3rd quarter. KBC Group NV now owns 9,311 shares of the financial services provider’s stock worth $78,000 after purchasing an additional 2,535 shares in the last quarter. Allworth Financial LP grew its position in Global Net Lease by 157.6% during the 4th quarter. Allworth Financial LP now owns 10,314 shares of the financial services provider’s stock worth $74,000 after purchasing an additional 6,310 shares in the last quarter. Abel Hall LLC purchased a new position in Global Net Lease during the 3rd quarter worth approximately $93,000. Finally, HB Wealth Management LLC purchased a new position in Global Net Lease during the 4th quarter worth approximately $81,000. 61.19% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on GNL. Truist Financial lowered their price objective on shares of 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. Citizens Jmp upgraded shares of Global Net Lease from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 17th. Finally, JMP Securities upgraded shares of Global Net Lease from a “market perform” rating to an “outperform” rating and set a $9.00 price target on the stock in a report on Tuesday, December 17th. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $9.50.

Global Net Lease Stock Up 3.3 %

GNL stock opened at $8.06 on Friday. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 0.70. Global Net Lease, Inc. has a 1 year low of $6.52 and a 1 year high of $9.11. The company has a fifty day simple moving average of $7.39 and a 200 day simple moving average of $7.75. The firm has a market cap of $1.86 billion, a PE ratio of -8.57 and a beta of 1.33.

Global Net Lease Announces Dividend

The company also recently announced 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 dividend on an annualized basis and a yield of 13.66%. The ex-dividend date of this dividend was Monday, January 13th. Global Net Lease’s dividend payout ratio is -144.74%.

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.