LSV Asset Management Sells 1,374,416 Shares of Global Net Lease, Inc. (NYSE:GNL)

LSV Asset Management cut its holdings in shares of Global Net Lease, Inc. (NYSE:GNL) by 36.1% in the 4th quarter, HoldingsChannel reports. The firm owned 2,437,061 shares of the financial services provider’s stock after selling 1,374,416 shares during the quarter. LSV Asset Management’s holdings in Global Net Lease were worth $24,249,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in GNL. Vanguard Group Inc. raised its position in Global Net Lease by 83.8% in the third quarter. Vanguard Group Inc. now owns 30,770,077 shares of the financial services provider’s stock worth $295,700,000 after acquiring an additional 14,033,117 shares during the period. Hsbc Holdings PLC lifted its stake in Global Net Lease by 8,487.0% in the third quarter. Hsbc Holdings PLC now owns 4,832,588 shares of the financial services provider’s stock valued at $46,536,000 after purchasing an additional 4,776,310 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in Global Net Lease by 80.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,991,844 shares of the financial services provider’s stock valued at $38,362,000 after purchasing an additional 1,778,131 shares during the period. Charles Schwab Investment Management Inc. increased its position in Global Net Lease by 93.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,497,508 shares of the financial services provider’s stock worth $33,611,000 after buying an additional 1,686,201 shares during the last quarter. Finally, Invesco Ltd. lifted its position in shares of Global Net Lease by 18.3% during the 3rd quarter. Invesco Ltd. now owns 2,231,893 shares of the financial services provider’s stock valued at $21,448,000 after buying an additional 345,120 shares during the last quarter. 61.19% of the stock is currently owned by institutional investors.

Global Net Lease Stock Up 0.6 %

Shares of NYSE GNL opened at $7.20 on Monday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.05 and a current ratio of 0.05. The stock’s 50-day simple moving average is $7.24 and its two-hundred day simple moving average is $8.24. Global Net Lease, Inc. has a twelve month low of $6.52 and a twelve month high of $11.58.

Global Net Lease Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 16th. Shareholders of record on Thursday, April 11th were paid a $0.275 dividend. This is a positive change from Global Net Lease’s previous quarterly dividend of $0.06. This represents a $1.10 dividend on an annualized basis and a yield of 15.28%. The ex-dividend date was Wednesday, April 10th. Global Net Lease’s dividend payout ratio is currently -63.58%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on GNL shares. BMO Capital Markets began coverage on Global Net Lease in a research note on Tuesday, February 13th. They issued an “outperform” rating and a $11.00 price objective on the stock. BTIG Research downgraded shares of Global Net Lease from a “buy” rating to a “neutral” rating in a report on Friday, March 8th. Truist Financial assumed coverage on Global Net Lease in a report on Thursday, March 28th. They issued a “hold” rating and a $7.00 price target for the company. Finally, JMP Securities reiterated a “market perform” rating on shares of Global Net Lease in a research note on Thursday, April 18th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, Global Net Lease has an average rating of “Hold” and an average price target of $12.00.

Global Net Lease Company Profile

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.