Bank of Montreal Can Purchases 3,040 Shares of Global Net Lease, Inc. (NYSE:GNL)

Bank of Montreal Can raised its holdings in Global Net Lease, Inc. (NYSE:GNL) by 10.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,694 shares of the financial services provider’s stock after purchasing an additional 3,040 shares during the period. Bank of Montreal Can’s holdings in Global Net Lease were worth $231,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Charles Schwab Investment Management Inc. lifted its position in shares of Global Net Lease by 2.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,171,758 shares of the financial services provider’s stock worth $30,454,000 after acquiring an additional 112,908 shares in the last quarter. Helix Partners Management LP purchased a new stake in Global Net Lease during the 4th quarter worth about $24,455,000. Corient Private Wealth LLC boosted its stake in Global Net Lease by 0.9% in the 4th quarter. Corient Private Wealth LLC now owns 2,344,533 shares of the financial services provider’s stock worth $17,115,000 after purchasing an additional 21,823 shares during the period. Advisors Asset Management Inc. grew its holdings in Global Net Lease by 28.9% during the 4th quarter. Advisors Asset Management Inc. now owns 1,430,580 shares of the financial services provider’s stock valued at $10,443,000 after buying an additional 320,738 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in Global Net Lease by 107.3% during the 4th quarter. JPMorgan Chase & Co. now owns 1,269,118 shares of the financial services provider’s stock valued at $9,265,000 after buying an additional 656,890 shares in the last quarter. Institutional investors own 61.19% of the company’s stock.

Analysts Set New Price Targets

Separately, B. Riley began coverage on shares of Global Net Lease in a research report on Tuesday. They issued a “neutral” rating and a $8.00 price objective for the company. Three research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $9.00.

Insider Transactions at Global Net Lease

In other Global Net Lease news, major shareholder Nicholas S. Schorsch sold 200,000 shares of Global Net Lease stock in a transaction dated Thursday, April 3rd. The stock was sold at an average price of $7.95, for a total transaction of $1,590,000.00. Following the completion of the sale, the insider now owns 1,629,073 shares of the company’s stock, valued at $12,951,130.35. The trade was a 10.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.37% of the stock is currently owned by insiders.

Global Net Lease Stock Performance

NYSE:GNL opened at $7.50 on Friday. Global Net Lease, Inc. has a twelve month low of $6.51 and a twelve month high of $9.11. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 0.70. The stock has a market cap of $1.72 billion, a P/E ratio of -7.98 and a beta of 1.19. The business’s 50-day moving average price is $7.65 and its two-hundred day moving average price is $7.53.

Global Net Lease Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 16th. Stockholders of record on Friday, April 11th were given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 10.13%. The ex-dividend date of this dividend was Friday, April 11th. Global Net Lease’s dividend payout ratio (DPR) is currently -100.00%.

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.