Metropolitan Life Insurance Co. NY trimmed its position in shares of Global Net Lease (NYSE:GNL) by 48.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,480 shares of the financial services provider’s stock after selling 24,375 shares during the quarter. Metropolitan Life Insurance Co. NY’s holdings in Global Net Lease were worth $524,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently made changes to their positions in GNL. Principal Financial Group Inc. acquired a new stake in shares of Global Net Lease during the third quarter worth $237,000. Bank of New York Mellon Corp increased its stake in Global Net Lease by 2.0% in the 3rd quarter. Bank of New York Mellon Corp now owns 637,147 shares of the financial services provider’s stock valued at $13,947,000 after buying an additional 12,301 shares during the last quarter. American International Group Inc. increased its stake in Global Net Lease by 8.1% in the 3rd quarter. American International Group Inc. now owns 44,897 shares of the financial services provider’s stock valued at $983,000 after buying an additional 3,357 shares during the last quarter. Legal & General Group Plc grew its position in shares of Global Net Lease by 56.7% in the 3rd quarter. Legal & General Group Plc now owns 198,958 shares of the financial services provider’s stock valued at $4,355,000 after acquiring an additional 72,024 shares during the period. Finally, Schroder Investment Management Group bought a new position in shares of Global Net Lease in the 3rd quarter valued at about $159,000. 48.77% of the stock is currently owned by institutional investors.
Shares of NYSE:GNL opened at $17.66 on Friday. The company has a market capitalization of $1,208.01, a PE ratio of 8.79 and a beta of 0.50. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.21. Global Net Lease has a 12 month low of $15.55 and a 12 month high of $24.35.
Global Net Lease (NYSE:GNL) last released its quarterly earnings data on Tuesday, February 27th. The financial services provider reported $0.09 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.51 by ($0.42). The company had revenue of $66.60 million for the quarter, compared to analyst estimates of $64.93 million. Global Net Lease had a return on equity of 1.72% and a net margin of 9.09%. research analysts expect that Global Net Lease will post 2.14 EPS for the current year.
The firm also recently announced a monthly dividend, which will be paid on Tuesday, May 15th. Shareholders of record on Tuesday, May 8th will be given a dividend of $0.1775 per share. The ex-dividend date of this dividend is Monday, May 7th. This represents a $2.13 dividend on an annualized basis and a yield of 12.06%. Global Net Lease’s dividend payout ratio is presently 105.97%.
In other Global Net Lease news, CEO James Larry Nelson bought 6,000 shares of the business’s stock in a transaction on Monday, March 19th. The stock was purchased at an average price of $16.66 per share, for a total transaction of $99,960.00. Following the completion of the transaction, the chief executive officer now directly owns 8,000 shares of the company’s stock, valued at $133,280. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 0.19% of the stock is owned by company insiders.
A number of brokerages have recently commented on GNL. B. Riley reissued a “neutral” rating on shares of Global Net Lease in a research report on Friday, March 9th. ValuEngine downgraded shares of Global Net Lease from a “buy” rating to a “hold” rating in a report on Monday, April 2nd. Finally, Zacks Investment Research raised shares of Global Net Lease from a “sell” rating to a “hold” rating in a report on Thursday, March 1st. One investment analyst has rated the stock with a sell rating and four have given a hold rating to the stock. Global Net Lease presently has a consensus rating of “Hold” and an average price target of $22.00.
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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