Amalgamated Bank Sells 1,964 Shares of Global Net Lease, Inc. (NYSE:GNL)

Amalgamated Bank reduced its position in shares of Global Net Lease, Inc. (NYSE:GNL) by 2.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 73,624 shares of the financial services provider’s stock after selling 1,964 shares during the quarter. Amalgamated Bank’s holdings in Global Net Lease were worth $733,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Beaird Harris Wealth Management LLC bought a new position in shares of Global Net Lease in the 3rd quarter worth $26,000. Turtle Creek Wealth Advisors LLC bought a new position in Global Net Lease during the fourth quarter worth about $31,000. Spire Wealth Management grew its position in shares of Global Net Lease by 221.9% during the 3rd quarter. Spire Wealth Management now owns 3,299 shares of the financial services provider’s stock worth $32,000 after buying an additional 2,274 shares during the period. Raleigh Capital Management Inc. increased its stake in shares of Global Net Lease by 59.1% in the 3rd quarter. Raleigh Capital Management Inc. now owns 4,249 shares of the financial services provider’s stock valued at $41,000 after acquiring an additional 1,579 shares during the last quarter. Finally, Beacon Capital Management LLC acquired a new stake in shares of Global Net Lease in the 4th quarter valued at approximately $43,000. 61.19% of the stock is currently owned by institutional investors and hedge funds.

Global Net Lease Trading Up 0.9 %

Shares of Global Net Lease stock opened at $7.77 on Friday. Global Net Lease, Inc. has a 12-month low of $6.52 and a 12-month high of $11.58. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.70. The business’s 50 day moving average is $7.28 and its 200-day moving average is $8.21. The stock has a market cap of $1.79 billion, a P/E ratio of -4.27, a P/E/G ratio of 0.97 and a beta of 1.34.

Global Net Lease Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 16th. Stockholders of record on Thursday, April 11th were given a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 14.16%. The ex-dividend date was Wednesday, April 10th. This is an increase from Global Net Lease’s previous quarterly dividend of $0.06. Global Net Lease’s dividend payout ratio (DPR) is -60.44%.

Wall Street Analyst Weigh In

GNL has been the topic of several analyst reports. Truist Financial initiated coverage on shares of Global Net Lease in a report on Thursday, March 28th. They issued a “hold” rating and a $7.00 target price on the stock. BTIG Research lowered Global Net Lease from a “buy” rating to a “neutral” rating in a report on Friday, March 8th. JMP Securities restated a “market perform” rating on shares of Global Net Lease in a report on Thursday, April 18th. Finally, BMO Capital Markets began coverage on Global Net Lease in a research report on Tuesday, February 13th. They issued an “outperform” rating and a $11.00 price objective for the company. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $11.00.

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.