Pensionfund Sabic Boosts Stock Position in Global Net Lease, Inc. (NYSE:GNL)
Pensionfund Sabic grew its stake in shares of Global Net Lease, Inc. (NYSE:GNL) by 15.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 56,492 shares of the financial services provider’s stock after acquiring an additional 7,500 shares during the period. Pensionfund Sabic owned 0.06% of Global Net Lease worth $1,020,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of GNL. US Bancorp DE lifted its position in shares of Global Net Lease by 76.1% during the fourth quarter. US Bancorp DE now owns 1,560 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 674 shares in the last quarter. Harvest Fund Management Co. Ltd purchased a new stake in shares of Global Net Lease in the fourth quarter worth $29,000. Van ECK Associates Corp raised its position in shares of Global Net Lease by 33.2% in the fourth quarter. Van ECK Associates Corp now owns 3,622 shares of the financial services provider’s stock worth $62,000 after buying an additional 903 shares in the last quarter. Veriti Management LLC purchased a new stake in shares of Global Net Lease in the fourth quarter worth $65,000. Finally, Accel Wealth Management purchased a new stake in shares of Global Net Lease in the fourth quarter worth $73,000. Hedge funds and other institutional investors own 64.78% of the company’s stock.
A number of equities research analysts recently issued reports on the company. Zacks Investment Research upgraded Global Net Lease from a “hold” rating to a “buy” rating and set a $20.00 price objective on the stock in a research report on Friday, March 5th. B. Riley restated a “buy” rating and set a $23.00 price target (up previously from $21.00) on shares of Global Net Lease in a research report on Monday, March 1st. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Global Net Lease currently has an average rating of “Buy” and a consensus target price of $20.88.
Global Net Lease (NYSE:GNL) last announced its quarterly earnings data on Wednesday, February 24th. The financial services provider reported ($0.15) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.43 by ($0.58). Global Net Lease had a net margin of 10.07% and a return on equity of 1.97%. On average, equities analysts expect that Global Net Lease, Inc. will post 1.69 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 15th. Stockholders of record on Monday, April 12th will be paid a dividend of $0.40 per share. The ex-dividend date is Friday, April 9th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 8.38%. Global Net Lease’s dividend payout ratio (DPR) is currently 86.49%.
About Global Net Lease
Global Net Lease, Inc (NYSE: GNL) is a publicly traded real estate investment trust listed on the NYSE 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.
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