JPMorgan Chase & Co. Purchases 85,304 Shares of Global Net Lease, Inc. $GNL

JPMorgan Chase & Co. raised its position in shares of Global Net Lease, Inc. (NYSE:GNL) by 8.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,153,817 shares of the financial services provider’s stock after acquiring an additional 85,304 shares during the quarter. JPMorgan Chase & Co.’s holdings in Global Net Lease were worth $9,381,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Louisiana State Employees Retirement System lifted its stake in shares of Global Net Lease by 1.9% in the 3rd quarter. Louisiana State Employees Retirement System now owns 91,300 shares of the financial services provider’s stock valued at $742,000 after purchasing an additional 1,700 shares during the period. The Manufacturers Life Insurance Company grew its stake in Global Net Lease by 1.2% during the second quarter. The Manufacturers Life Insurance Company now owns 154,190 shares of the financial services provider’s stock worth $1,164,000 after purchasing an additional 1,784 shares during the period. Amalgamated Bank grew its stake in Global Net Lease by 3.4% during the third quarter. Amalgamated Bank now owns 56,721 shares of the financial services provider’s stock worth $461,000 after purchasing an additional 1,890 shares during the period. Brookstone Capital Management increased its holdings in Global Net Lease by 8.0% in the third quarter. Brookstone Capital Management now owns 27,303 shares of the financial services provider’s stock worth $222,000 after purchasing an additional 2,013 shares in the last quarter. Finally, State of Wyoming lifted its stake in Global Net Lease by 17.9% in the third quarter. State of Wyoming now owns 16,313 shares of the financial services provider’s stock valued at $133,000 after buying an additional 2,482 shares during the period. 61.19% of the stock is currently owned by institutional investors and hedge funds.

Global Net Lease Price Performance

Shares of NYSE GNL opened at $9.26 on Friday. The stock has a market cap of $1.98 billion, a price-to-earnings ratio of -7.78 and a beta of 1.11. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.09 and a current ratio of 0.09. Global Net Lease, Inc. has a fifty-two week low of $6.51 and a fifty-two week high of $10.04. The firm’s 50-day simple moving average is $9.37 and its 200 day simple moving average is $8.48.

Global Net Lease Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 16th. Investors of record on Monday, January 12th were given a dividend of $0.19 per share. The ex-dividend date of this dividend was Monday, January 12th. This represents a $0.76 annualized dividend and a dividend yield of 8.2%. Global Net Lease’s payout ratio is presently -63.87%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on GNL shares. Wall Street Zen upgraded Global Net Lease from a “sell” rating to a “buy” rating in a report on Saturday, February 28th. Citizens Jmp boosted their target price on shares of Global Net Lease from $9.00 to $10.00 and gave the company a “market outperform” rating in a research report on Monday, January 12th. Cantor Fitzgerald raised shares of Global Net Lease to a “strong-buy” rating in a research note on Wednesday, February 4th. Finally, Citigroup restated an “outperform” rating on shares of Global Net Lease in a report on Monday, January 12th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $10.00.

About Global Net Lease

Global Net Lease (NYSE: GNL) is a real estate investment trust (REIT) that focuses on acquiring and managing a diversified portfolio of single-tenant, net-lease commercial properties. The company’s business model centers on establishing long-term, triple-net leases with creditworthy tenants, enabling the pass-through of property operating expenses while aiming to provide predictable rental income and stable cash flows. Global Net Lease’s portfolio spans retail, industrial, office and light-industrial assets, each selected for its strategic location and tenant credit quality.

Since launching its initial public offering in April 2016, Global Net Lease has built a presence in key markets throughout the United States and Western Europe.