JPMorgan Chase & Co. Acquires 85,304 Shares of Global Net Lease, Inc. $GNL

JPMorgan Chase & Co. raised its holdings in Global Net Lease, Inc. (NYSE:GNL) by 8.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,153,817 shares of the financial services provider’s stock after purchasing an additional 85,304 shares during the quarter. JPMorgan Chase & Co. owned 0.52% of Global Net Lease worth $9,381,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of GNL. State of New Jersey Common Pension Fund D lifted its position in shares of Global Net Lease by 14.8% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 155,000 shares of the financial services provider’s stock worth $1,260,000 after buying an additional 20,000 shares during the last quarter. Aberdeen Group plc raised its stake in Global Net Lease by 86.9% during the third quarter. Aberdeen Group plc now owns 241,385 shares of the financial services provider’s stock worth $1,949,000 after acquiring an additional 112,203 shares in the last quarter. BTC Capital Management Inc. lifted its holdings in shares of Global Net Lease by 111.0% in the third quarter. BTC Capital Management Inc. now owns 93,092 shares of the financial services provider’s stock worth $757,000 after acquiring an additional 48,965 shares during the last quarter. Metis Global Partners LLC boosted its stake in shares of Global Net Lease by 36.6% in the 3rd quarter. Metis Global Partners LLC now owns 43,227 shares of the financial services provider’s stock valued at $351,000 after purchasing an additional 11,583 shares in the last quarter. Finally, Public Sector Pension Investment Board grew its holdings in shares of Global Net Lease by 18.6% during the 3rd quarter. Public Sector Pension Investment Board now owns 775,172 shares of the financial services provider’s stock valued at $6,302,000 after purchasing an additional 121,663 shares during the last quarter. Institutional investors own 61.19% of the company’s stock.

Global Net Lease Price Performance

Global Net Lease stock opened at $9.26 on Friday. The stock’s 50 day moving average is $9.37 and its 200 day moving average is $8.48. Global Net Lease, Inc. has a one year low of $6.51 and a one year high of $10.04. The firm has a market cap of $1.98 billion, a P/E ratio of -7.78 and a beta of 1.11. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.09 and a quick ratio of 0.09.

Global Net Lease Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 16th. Stockholders of record on Monday, January 12th were given a $0.19 dividend. The ex-dividend date was Monday, January 12th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 8.2%. Global Net Lease’s payout ratio is -63.87%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Cantor Fitzgerald upgraded shares of Global Net Lease to a “strong-buy” rating in a research report on Wednesday, February 4th. Citigroup reissued an “outperform” rating on shares of Global Net Lease in a report on Monday, January 12th. Wall Street Zen upgraded Global Net Lease from a “sell” rating to a “buy” rating in a research report on Saturday, February 28th. Finally, Citizens Jmp lifted their price target on Global Net Lease from $9.00 to $10.00 and gave the company a “market outperform” rating in a research note on Monday, January 12th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $10.00.

Global Net Lease Company Profile

Global Net Lease (NYSE: GNL) is a real estate investment trust (REIT) that focuses on acquiring and managing a diversified portfolio of single-tenant, net-lease commercial properties. The company’s business model centers on establishing long-term, triple-net leases with creditworthy tenants, enabling the pass-through of property operating expenses while aiming to provide predictable rental income and stable cash flows. Global Net Lease’s portfolio spans retail, industrial, office and light-industrial assets, each selected for its strategic location and tenant credit quality.

Since launching its initial public offering in April 2016, Global Net Lease has built a presence in key markets throughout the United States and Western Europe.