Bank of New York Mellon Corp Has $9.77 Million Stake in Global Net Lease, Inc. (NYSE:GNL)

Bank of New York Mellon Corp decreased its position in shares of Global Net Lease, Inc. (NYSE:GNL) by 2.6% in the fourth quarter, Holdings Channel reports. The fund owned 1,338,893 shares of the financial services provider’s stock after selling 35,594 shares during the period. Bank of New York Mellon Corp’s holdings in Global Net Lease were worth $9,774,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of GNL. Versor Investments LP bought a new position in shares of Global Net Lease during the 3rd quarter worth about $220,000. MQS Management LLC bought a new position in shares of Global Net Lease during the 3rd quarter worth about $315,000. KBC Group NV increased its holdings in shares of Global Net Lease by 37.4% during the 3rd quarter. KBC Group NV now owns 9,311 shares of the financial services provider’s stock worth $78,000 after purchasing an additional 2,535 shares during the period. Metis Global Partners LLC increased its holdings in shares of Global Net Lease by 32.8% during the 3rd quarter. Metis Global Partners LLC now owns 20,382 shares of the financial services provider’s stock worth $172,000 after purchasing an additional 5,037 shares during the period. Finally, Quest Partners LLC increased its holdings in shares of Global Net Lease by 155.9% during the 3rd quarter. Quest Partners LLC now owns 84,881 shares of the financial services provider’s stock worth $715,000 after purchasing an additional 51,713 shares during the period. Institutional investors and hedge funds own 61.19% of the company’s stock.

Analysts Set New Price Targets

GNL has been the topic of a number of analyst reports. JMP Securities raised shares of Global Net Lease from a “market perform” rating to an “outperform” rating and set a $9.00 target price on the stock in a research note on Tuesday, December 17th. Citizens Jmp raised shares of Global Net Lease from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 17th. Finally, Truist Financial lowered their target price on shares of 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. Two investment 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. Based on data from MarketBeat.com, Global Net Lease currently has a consensus rating of “Moderate Buy” and an average target price of $9.50.

Global Net Lease Price Performance

Shares of GNL stock opened at $8.06 on Friday. Global Net Lease, Inc. has a 1 year low of $6.52 and a 1 year high of $9.11. The firm’s 50 day moving average is $7.39 and its 200-day moving average is $7.75. The firm has a market capitalization of $1.86 billion, a price-to-earnings ratio of -8.57 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 Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 16th. Investors of record on Monday, January 13th were issued a $0.275 dividend. The ex-dividend date of this dividend was Monday, January 13th. This represents a $1.10 annualized dividend and a yield of 13.66%. Global Net Lease’s dividend payout ratio is currently -144.74%.

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.