Thrivent Financial for Lutherans Grows Stake in Global Net Lease, Inc. (NYSE:GNL)

Thrivent Financial for Lutherans lifted its stake in Global Net Lease, Inc. (NYSE:GNL) by 90.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 296,580 shares of the financial services provider’s stock after purchasing an additional 141,178 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Global Net Lease were worth $2,166,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Cibc World Markets Corp bought a new stake in Global Net Lease during the 4th quarter valued at about $137,000. Creative Financial Designs Inc. ADV grew its holdings in shares of Global Net Lease by 119.4% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 6,659 shares of the financial services provider’s stock valued at $49,000 after buying an additional 3,624 shares during the last quarter. GWN Securities Inc. bought a new stake in shares of Global Net Lease during the fourth quarter valued at approximately $161,000. Corient Private Wealth LLC increased its position in shares of Global Net Lease by 0.9% during the fourth quarter. Corient Private Wealth LLC now owns 2,344,533 shares of the financial services provider’s stock valued at $17,115,000 after acquiring an additional 21,823 shares in the last quarter. Finally, Ascent Capital Management LLC bought a new position in Global Net Lease in the 4th quarter valued at approximately $239,000. Institutional investors own 61.19% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on GNL. Truist Financial reduced their target price 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. Citizens Jmp raised Global Net Lease from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 17th. Finally, JMP Securities raised Global Net Lease from a “market perform” rating to an “outperform” rating and set a $9.00 target price for the company in a research report on Tuesday, December 17th. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $9.50.

Global Net Lease Price Performance

Shares of GNL opened at $7.99 on Friday. The firm has a fifty day simple moving average of $7.55 and a two-hundred day simple moving average of $7.70. The firm has a market cap of $1.84 billion, a PE ratio of -8.49 and a beta of 1.33. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 0.70. 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. Investors of record on Monday, January 13th were given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 13.78%. The ex-dividend date was Monday, January 13th. Global Net Lease’s dividend payout ratio (DPR) is presently -144.74%.

Global Net Lease Company Profile

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.