Global Net Lease, Inc. $GNL Position Lifted by Private Management Group Inc.

Private Management Group Inc. raised its position in Global Net Lease, Inc. (NYSE:GNL) by 56.3% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,115,564 shares of the financial services provider’s stock after purchasing an additional 1,843,181 shares during the period. Global Net Lease makes up about 1.1% of Private Management Group Inc.’s investment portfolio, making the stock its 16th biggest holding. Private Management Group Inc.’s holdings in Global Net Lease were worth $42,255,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. ProShare Advisors LLC boosted its position in shares of Global Net Lease by 5.5% during the third quarter. ProShare Advisors LLC now owns 29,088 shares of the financial services provider’s stock worth $240,000 after purchasing an additional 1,518 shares in the last quarter. Krilogy Financial LLC increased its position in shares of Global Net Lease by 15.8% in the 3rd quarter. Krilogy Financial LLC now owns 12,457 shares of the financial services provider’s stock valued at $97,000 after buying an additional 1,696 shares in the last quarter. Geneos Wealth Management Inc. increased its position in shares of Global Net Lease by 11.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 17,258 shares of the financial services provider’s stock valued at $162,000 after buying an additional 1,821 shares in the last quarter. QRG Capital Management Inc. increased its position in shares of Global Net Lease by 8.2% in the 2nd quarter. QRG Capital Management Inc. now owns 26,667 shares of the financial services provider’s stock valued at $238,000 after buying an additional 2,025 shares in the last quarter. Finally, Arrow Investment Advisors LLC raised its stake in Global Net Lease by 9.0% during the 3rd quarter. Arrow Investment Advisors LLC now owns 26,687 shares of the financial services provider’s stock worth $220,000 after buying an additional 2,209 shares during the period. 61.19% of the stock is currently owned by institutional investors and hedge funds.

Global Net Lease Stock Performance

Shares of GNL stock opened at $6.87 on Tuesday. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.16 and a current ratio of 0.16. The company has a market capitalization of $1.45 billion, a P/E ratio of 7.54 and a beta of 1.09. The company’s 50 day moving average price is $8.06 and its two-hundred day moving average price is $8.99. Global Net Lease, Inc. has a 52 week low of $6.81 and a 52 week high of $10.04.

Global Net Lease Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 16th. Stockholders of record on Monday, October 12th were issued a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 11.1%. The ex-dividend date was Friday, October 9th. Global Net Lease’s dividend payout ratio is -281.48%.

Wall Street Analyst Weigh In

Several brokerages recently commented on GNL. Huntington assumed coverage on Global Net Lease in a research note on Wednesday, November 4th. They set a “hold” rating on the stock. Cantor Fitzgerald decreased their target price on Global Net Lease from $11.00 to $9.00 and set an “overweight” rating for the company in a research note on Friday. BMO Capital Markets upgraded Global Net Lease from a “market perform” rating to an “outperform” rating and set a $10.00 price target for the company in a report on Monday, August 17th. Finally, Citizens Jmp restated a “market outperform” rating and issued a $10.00 price target on shares of Global Net Lease in a report on Monday, August 31st. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $9.75.

About Global Net Lease