State of New Jersey Common Pension Fund D Purchases New Stake in Global Net Lease, Inc. (NYSE:GNL)

State of New Jersey Common Pension Fund D bought a new position in Global Net Lease, Inc. (NYSE:GNL) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 90,000 shares of the financial services provider’s stock, valued at approximately $657,000.

A number of other institutional investors have also recently bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Global Net Lease by 392.8% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,048,596 shares of the financial services provider’s stock valued at $8,829,000 after acquiring an additional 835,830 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Global Net Lease by 4.3% during the third 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 buying an additional 166,247 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Global Net Lease by 1.9% during the third quarter. Geode Capital Management LLC now owns 5,093,659 shares of the financial services provider’s stock valued at $42,897,000 after purchasing an additional 95,769 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Global Net Lease by 31.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 612,228 shares of the financial services provider’s stock valued at $5,155,000 after acquiring an additional 147,803 shares in the last quarter. Finally, Advisors Asset Management Inc. raised its holdings in shares of Global Net Lease by 12.2% in the 3rd quarter. Advisors Asset Management Inc. now owns 1,109,842 shares of the financial services provider’s stock worth $9,345,000 after buying an additional 120,610 shares in the last quarter. Institutional investors and hedge funds own 61.19% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Global Net Lease Price Performance

Shares of GNL opened at $7.32 on Wednesday. The company’s fifty day simple moving average is $7.21 and its 200 day simple moving average is $7.77. The company has a market cap of $1.69 billion, a price-to-earnings ratio of -7.78 and a beta of 1.34. 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 $9.10.

Global Net Lease Announces Dividend

The business also recently disclosed 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. The ex-dividend date was Monday, January 13th. This represents a $1.10 dividend on an annualized basis and a yield of 15.04%. Global Net Lease’s dividend payout ratio (DPR) is -117.02%.

Global Net Lease 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.