Modern Wealth Management LLC Sells 2,051 Shares of Global Net Lease, Inc. (NYSE:GNL)

Modern Wealth Management LLC trimmed its holdings in Global Net Lease, Inc. (NYSE:GNL) by 8.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,361 shares of the financial services provider’s stock after selling 2,051 shares during the quarter. Modern Wealth Management LLC’s holdings in Global Net Lease were worth $152,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of GNL. Geode Capital Management LLC grew its holdings in Global Net Lease by 1.9% in the third quarter. Geode Capital Management LLC now owns 5,093,659 shares of the financial services provider’s stock worth $42,897,000 after purchasing an additional 95,769 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Global Net Lease by 2.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,171,758 shares of the financial services provider’s stock worth $30,454,000 after purchasing an additional 112,908 shares in the last quarter. Corient Private Wealth LLC grew its stake in shares of 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 buying an additional 21,823 shares during the last quarter. Advisors Asset Management Inc. increased its position 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, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Global Net Lease by 392.8% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,048,596 shares of the financial services provider’s stock valued at $8,829,000 after buying an additional 835,830 shares during the last quarter. 61.19% of the stock is owned by hedge funds and other institutional investors.

Global Net Lease Stock Up 0.2 %

GNL stock opened at $7.99 on Friday. The stock has a market capitalization of $1.84 billion, a P/E ratio of -8.49 and a beta of 1.33. 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 $9.11. The business has a fifty day moving average price of $7.55 and a 200-day moving average price of $7.70.

Global Net Lease Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Shareholders of record on Monday, January 13th were given a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 13.78%. The ex-dividend date of this dividend was Monday, January 13th. Global Net Lease’s dividend payout ratio (DPR) is -144.74%.

Wall Street Analysts Forecast Growth

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

Global Net Lease 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.