Bank of New York Mellon Corp boosted its holdings in Global Net Lease Inc (NYSE:GNL) by 3.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,183,017 shares of the financial services provider’s stock after acquiring an additional 40,708 shares during the quarter. Bank of New York Mellon Corp owned 1.76% of Global Net Lease worth $24,169,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of GNL. BlackRock Inc. increased its stake in Global Net Lease by 59.1% in the first quarter. BlackRock Inc. now owns 9,767,923 shares of the financial services provider’s stock valued at $164,883,000 after acquiring an additional 3,630,221 shares during the period. Principal Financial Group Inc. bought a new stake in Global Net Lease in the first quarter valued at about $8,712,000. Prudential Financial Inc. bought a new stake in Global Net Lease in the first quarter valued at about $3,048,000. Legal & General Group Plc increased its stake in Global Net Lease by 65.6% in the first quarter. Legal & General Group Plc now owns 329,303 shares of the financial services provider’s stock valued at $5,559,000 after acquiring an additional 130,500 shares during the period. Finally, First Trust Advisors LP bought a new stake in Global Net Lease in the second quarter valued at about $2,549,000. 56.13% of the stock is currently owned by institutional investors and hedge funds.
Shares of Global Net Lease stock opened at $21.13 on Friday. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.34. The stock has a market cap of $1.52 billion, a price-to-earnings ratio of 10.51 and a beta of 0.54. Global Net Lease Inc has a 1-year low of $15.55 and a 1-year high of $22.53.
Global Net Lease (NYSE:GNL) last issued its quarterly earnings data on Wednesday, August 8th. The financial services provider reported $0.08 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.52 by ($0.44). The firm had revenue of $70.97 million for the quarter, compared to the consensus estimate of $68.81 million. Global Net Lease had a return on equity of 1.69% and a net margin of 8.68%. equities analysts anticipate that Global Net Lease Inc will post 2.05 EPS for the current year.
The company also recently disclosed a monthly dividend, which will be paid on Monday, September 17th. Shareholders of record on Thursday, September 13th will be paid a dividend of $0.1775 per share. The ex-dividend date of this dividend is Wednesday, September 12th. This represents a $2.13 annualized dividend and a yield of 10.08%. Global Net Lease’s dividend payout ratio is 105.97%.
A number of analysts recently weighed in on the stock. Zacks Investment Research raised shares of Global Net Lease from a “sell” rating to a “hold” rating in a research note on Thursday, July 5th. B. Riley set a $24.00 target price on shares of Global Net Lease and gave the company a “hold” rating in a research note on Friday, August 10th. Finally, ValuEngine raised shares of Global Net Lease from a “sell” rating to a “hold” rating in a research note on Wednesday, July 4th.
Global Net Lease 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.
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