Essex Financial Services Inc. Grows Stake in Global Net Lease, Inc. (NYSE:GNL)

Essex Financial Services Inc. increased its stake in shares of Global Net Lease, Inc. (NYSE:GNLFree Report) by 20.7% in the 4th quarter, Holdings Channel reports. The firm owned 12,069 shares of the financial services provider’s stock after purchasing an additional 2,069 shares during the period. Essex Financial Services Inc.’s holdings in Global Net Lease were worth $120,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of GNL. Victory Capital Management Inc. raised its holdings in shares of Global Net Lease by 23.5% during the fourth quarter. Victory Capital Management Inc. now owns 38,960 shares of the financial services provider’s stock valued at $388,000 after acquiring an additional 7,406 shares during the last quarter. Van ECK Associates Corp raised its stake in Global Net Lease by 19.7% in the 4th quarter. Van ECK Associates Corp now owns 27,279 shares of the financial services provider’s stock valued at $271,000 after purchasing an additional 4,485 shares during the last quarter. Russell Investments Group Ltd. raised its stake in Global Net Lease by 7,183.9% in the 4th quarter. Russell Investments Group Ltd. now owns 20,759 shares of the financial services provider’s stock valued at $207,000 after purchasing an additional 20,474 shares during the last quarter. Kovack Advisors Inc. lifted its holdings in Global Net Lease by 58.8% in the 4th quarter. Kovack Advisors Inc. now owns 59,200 shares of the financial services provider’s stock valued at $589,000 after purchasing an additional 21,932 shares in the last quarter. Finally, Atria Wealth Solutions Inc. boosted its stake in Global Net Lease by 4.4% during the 4th quarter. Atria Wealth Solutions Inc. now owns 474,172 shares of the financial services provider’s stock worth $4,718,000 after purchasing an additional 20,133 shares during the last quarter. 61.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Check Out Our Latest Report on Global Net Lease

Global Net Lease Stock Up 0.8 %

NYSE:GNL opened at $7.16 on Friday. The company’s 50-day moving average is $7.24 and its two-hundred day moving average is $8.24. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.66. Global Net Lease, Inc. has a 1-year low of $6.52 and a 1-year high of $11.58.

Global Net Lease Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 16th. Investors of record on Thursday, April 11th were given a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 15.36%. This is a positive change from Global Net Lease’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend was Wednesday, April 10th. Global Net Lease’s dividend payout ratio is presently -63.58%.

Global Net Lease Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Global Net Lease (NYSE:GNL)

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