Vanguard Group Inc. Acquires 14,033,117 Shares of Global Net Lease, Inc. (NYSE:GNL)

Vanguard Group Inc. boosted its holdings in shares of Global Net Lease, Inc. (NYSE:GNL) by 83.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 30,770,077 shares of the financial services provider’s stock after purchasing an additional 14,033,117 shares during the period. Vanguard Group Inc. owned about 13.36% of Global Net Lease worth $295,700,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GNL. Raymond James & Associates lifted its stake in Global Net Lease by 11.8% during the first quarter. Raymond James & Associates now owns 74,749 shares of the financial services provider’s stock worth $1,176,000 after purchasing an additional 7,886 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Global Net Lease by 4.5% during the first quarter. Bank of New York Mellon Corp now owns 1,145,077 shares of the financial services provider’s stock worth $18,013,000 after purchasing an additional 48,896 shares during the last quarter. Bank of Montreal Can lifted its stake in Global Net Lease by 5.3% during the first quarter. Bank of Montreal Can now owns 31,150 shares of the financial services provider’s stock worth $491,000 after purchasing an additional 1,581 shares during the last quarter. MetLife Investment Management LLC lifted its stake in Global Net Lease by 57.8% during the first quarter. MetLife Investment Management LLC now owns 54,350 shares of the financial services provider’s stock worth $855,000 after purchasing an additional 19,899 shares during the last quarter. Finally, Rhumbline Advisers lifted its stake in Global Net Lease by 1.6% during the first quarter. Rhumbline Advisers now owns 317,198 shares of the financial services provider’s stock worth $4,990,000 after purchasing an additional 5,102 shares during the last quarter. 61.19% of the stock is currently owned by institutional investors.

Global Net Lease Stock Up 4.1 %

Shares of NYSE:GNL opened at $7.63 on Thursday. The company has a fifty day moving average of $7.91 and a 200-day moving average of $8.71. The company has a market capitalization of $1.76 billion, a PE ratio of -4.41, a price-to-earnings-growth ratio of 0.86 and a beta of 1.33. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.05 and a current ratio of 0.05. Global Net Lease, Inc. has a 52-week low of $6.83 and a 52-week high of $13.10.

Global Net Lease Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 16th. Investors of record on Friday, January 12th were issued a $0.354 dividend. This represents a $1.42 dividend on an annualized basis and a yield of 18.56%. This is an increase from Global Net Lease’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend was Thursday, January 11th. Global Net Lease’s dividend payout ratio is presently -82.08%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on GNL shares. BMO Capital Markets started coverage on shares of Global Net Lease in a report on Tuesday, February 13th. They set an “outperform” rating and a $11.00 price target for the company. BTIG Research downgraded shares of Global Net Lease from a “buy” rating to a “neutral” rating in a report on Friday, March 8th.

Insider Activity at Global Net Lease

In related news, major shareholder Nicholas S. Schorsch sold 220,564 shares of the stock in a transaction on Wednesday, January 10th. The stock was sold at an average price of $10.01, for a total value of $2,207,845.64. Following the completion of the sale, the insider now directly owns 4,405,042 shares in the company, valued at $44,094,470.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, major shareholder Nicholas S. Schorsch sold 176,577 shares of the stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $9.04, for a total value of $1,596,256.08. Following the completion of the sale, the insider now directly owns 4,078,465 shares in the company, valued at $36,869,323.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Nicholas S. Schorsch sold 220,564 shares of the stock in a transaction on Wednesday, January 10th. The shares were sold at an average price of $10.01, for a total value of $2,207,845.64. Following the completion of the sale, the insider now owns 4,405,042 shares of the company’s stock, valued at $44,094,470.42. The disclosure for this sale can be found here. Insiders sold 571,978 shares of company stock worth $5,362,151 over the last three months. Company insiders own 0.22% of the company’s stock.

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.