Commonwealth Equity Services LLC Trims Stake in Global Net Lease, Inc. (NYSE:GNL)

Commonwealth Equity Services LLC cut its position in shares of Global Net Lease, Inc. (NYSE:GNL) by 8.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 275,992 shares of the financial services provider’s stock after selling 24,738 shares during the period. Commonwealth Equity Services LLC owned approximately 0.12% of Global Net Lease worth $2,015,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Intech Investment Management LLC purchased a new position in shares of Global Net Lease during the third quarter valued at approximately $434,000. Charles Schwab Investment Management Inc. boosted its holdings in Global Net Lease by 4.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,058,850 shares of the financial services provider’s stock valued at $34,176,000 after acquiring an additional 166,247 shares during the period. Citigroup Inc. grew its position in Global Net Lease by 52.8% in the 3rd quarter. Citigroup Inc. now owns 771,371 shares of the financial services provider’s stock valued at $6,495,000 after acquiring an additional 266,647 shares during the last quarter. Cerity Partners LLC increased its stake in Global Net Lease by 114.8% in the third quarter. Cerity Partners LLC now owns 50,435 shares of the financial services provider’s stock worth $425,000 after purchasing an additional 26,959 shares during the period. Finally, Daiwa Securities Group Inc. lifted its position in shares of Global Net Lease by 8.6% during the third quarter. Daiwa Securities Group Inc. now owns 66,214 shares of the financial services provider’s stock worth $558,000 after purchasing an additional 5,250 shares during the last quarter. 61.19% of the stock is owned by hedge funds and other institutional investors.

Global Net Lease Stock Down 0.3 %

Shares of Global Net Lease stock opened at $7.97 on Friday. Global Net Lease, Inc. has a 1 year low of $6.52 and a 1 year high of $9.11. 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 stock has a market cap of $1.84 billion, a price-to-earnings ratio of -8.47 and a beta of 1.33. The firm’s 50-day moving average is $7.53 and its two-hundred day moving average is $7.71.

Global Net Lease Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 16th. Investors of record on Monday, January 13th were issued a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 13.81%. The ex-dividend date of this dividend was Monday, January 13th. Global Net Lease’s payout ratio is -144.74%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Citizens Jmp raised shares of Global Net Lease from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 17th. Truist Financial decreased their price target on shares of Global Net Lease from $8.50 to $8.00 and set a “hold” rating for the company in a research note on Friday, November 29th. Finally, JMP Securities upgraded Global Net Lease from a “market perform” rating to an “outperform” rating and set a $9.00 price target for the company 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 issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $9.50.

Global Net Lease Company Profile

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.