Vestcor Inc Buys New Shares in Global Net Lease, Inc. (NYSE:GNL)

Vestcor Inc purchased a new stake in Global Net Lease, Inc. (NYSE:GNL) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 178,508 shares of the financial services provider’s stock, valued at approximately $1,303,000. Vestcor Inc owned 0.08% of Global Net Lease at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of GNL. Sunbelt Securities Inc. lifted its stake in shares of Global Net Lease by 10.9% in the third quarter. Sunbelt Securities Inc. now owns 16,023 shares of the financial services provider’s stock valued at $135,000 after buying an additional 1,574 shares during the period. Apeiron RIA LLC lifted its position in shares of Global Net Lease by 7.4% in the 4th quarter. Apeiron RIA LLC now owns 32,084 shares of the financial services provider’s stock worth $234,000 after acquiring an additional 2,200 shares during the period. Metis Global Partners LLC grew its holdings in shares of Global Net Lease by 11.4% during the 4th 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. increased its position in shares of Global Net Lease by 0.6% during the fourth quarter. Atria Wealth Solutions Inc. now owns 420,529 shares of the financial services provider’s stock valued at $3,070,000 after purchasing an additional 2,499 shares during the period. Finally, Nomura Asset Management Co. Ltd. raised 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 purchasing an additional 2,500 shares in the last quarter. 61.19% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Global Net Lease Trading Up 3.3 %

Shares of GNL stock opened at $8.06 on Friday. 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 company has a market capitalization of $1.86 billion, a P/E ratio of -8.57 and a beta of 1.33. Global Net Lease, Inc. has a 12-month low of $6.52 and a 12-month high of $9.11. The firm has a 50-day moving average price of $7.40 and a 200 day moving average price of $7.74.

Global Net Lease Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Stockholders of record on Monday, January 13th were issued a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 13.66%. 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.