Cibc World Markets Corp Purchases New Stake in Global Net Lease, Inc. (NYSE:GNL)

Cibc World Markets Corp purchased a new stake in shares of Global Net Lease, Inc. (NYSE:GNL) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 18,792 shares of the financial services provider’s stock, valued at approximately $137,000.

Several other institutional investors also recently bought and sold shares of GNL. Sunbelt Securities Inc. raised its stake in shares of Global Net Lease by 10.9% in the 3rd quarter. Sunbelt Securities Inc. now owns 16,023 shares of the financial services provider’s stock valued at $135,000 after acquiring an additional 1,574 shares during the period. Apeiron RIA LLC raised its position in Global Net Lease by 7.4% in the fourth quarter. Apeiron RIA LLC now owns 32,084 shares of the financial services provider’s stock valued at $234,000 after purchasing an additional 2,200 shares during the period. Metis Global Partners LLC lifted its stake in shares of Global Net Lease by 11.4% during the fourth quarter. Metis Global Partners LLC now owns 22,700 shares of the financial services provider’s stock worth $166,000 after purchasing an additional 2,318 shares in the last quarter. Atria Wealth Solutions Inc. boosted its position in shares of Global Net Lease by 0.6% in the fourth quarter. Atria Wealth Solutions Inc. now owns 420,529 shares of the financial services provider’s stock worth $3,070,000 after buying an additional 2,499 shares during the period. Finally, Nomura Asset Management Co. Ltd. grew its stake in shares of Global Net Lease by 1.0% in the third quarter. Nomura Asset Management Co. Ltd. now owns 245,400 shares of the financial services provider’s stock valued at $2,066,000 after buying an additional 2,500 shares in the last quarter. 61.19% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Truist Financial decreased their price target on Global Net Lease from $8.50 to $8.00 and set a “hold” rating for the company in a report on Friday, November 29th. JMP Securities raised Global Net Lease from a “market perform” rating to an “outperform” rating and set a $9.00 target price on the stock in a research report on Tuesday, December 17th. Finally, Citizens Jmp raised Global Net Lease from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 17th. Two analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $9.50.

Global Net Lease Price Performance

GNL opened at $7.97 on Friday. The company has a market capitalization of $1.84 billion, a P/E ratio of -8.47 and a beta of 1.33. The company has a 50-day moving average of $7.53 and a 200-day moving average of $7.71. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.06 and a current ratio of 0.06. Global Net Lease, Inc. has a 1-year low of $6.52 and a 1-year high of $9.11.

Global Net Lease Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 16th. Shareholders of record on Monday, January 13th were paid a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 13.81%. The ex-dividend date was Monday, January 13th. Global Net Lease’s payout ratio is currently -144.74%.

About Global Net Lease

Global Net Lease, Inc (NYSE: GNL) is a publicly traded real estate investment trust listed on the NYSE. The firm 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.