abrdn plc Acquires 33,345 Shares of Global Net Lease, Inc. (NYSE:GNL)

abrdn plc boosted its position in Global Net Lease, Inc. (NYSE:GNL) by 84.9% in the fourth quarter, HoldingsChannel reports. The firm owned 72,630 shares of the financial services provider’s stock after buying an additional 33,345 shares during the quarter. abrdn plc’s holdings in Global Net Lease were worth $525,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of GNL. American Capital Advisory LLC purchased a new position in shares of Global Net Lease during the 3rd quarter valued at $34,000. GAMMA Investing LLC increased its holdings in shares of Global Net Lease by 60.1% in the 3rd quarter. GAMMA Investing LLC now owns 5,054 shares of the financial services provider’s stock worth $43,000 after buying an additional 1,897 shares during the last quarter. McIlrath & Eck LLC purchased a new position in shares of Global Net Lease in the 3rd quarter worth about $67,000. KBC Group NV raised its stake in shares of Global Net Lease by 37.4% during the third quarter. KBC Group NV now owns 9,311 shares of the financial services provider’s stock worth $78,000 after acquiring an additional 2,535 shares in the last quarter. Finally, Private Advisor Group LLC bought a new position in shares of Global Net Lease during the third quarter valued at about $92,000. Hedge funds and other institutional investors own 61.19% of the company’s stock.

Global Net Lease Trading Up 0.9 %

Shares of GNL stock opened at $7.17 on Wednesday. The firm has a fifty day moving average price of $7.21 and a 200-day moving average price of $7.86. The company has a market cap of $1.65 billion, a price-to-earnings ratio of -7.62 and a beta of 1.34. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.06 and a quick ratio of 0.06. Global Net Lease, Inc. has a 1 year low of $6.52 and a 1 year high of $9.10.

Global Net Lease Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 16th. Stockholders of record on Monday, January 13th were given a dividend of $0.275 per share. The ex-dividend date of this dividend was Monday, January 13th. This represents a $1.10 annualized dividend and a dividend yield of 15.35%. Global Net Lease’s payout ratio is -117.02%.

Analyst Ratings Changes

GNL has been the topic of a number of recent analyst reports. Truist Financial cut their price target on shares of Global Net Lease from $8.50 to $8.00 and set a “hold” rating on the stock 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 report on Tuesday, December 17th. Finally, Citizens Jmp raised Global Net Lease from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 17th. Three analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $9.50.

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.