Illinois Municipal Retirement Fund Buys 9,330 Shares of Global Net Lease, Inc. (NYSE:GNL)

Illinois Municipal Retirement Fund raised its position in shares of Global Net Lease, Inc. (NYSE:GNL) by 9.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 110,578 shares of the financial services provider’s stock after acquiring an additional 9,330 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Global Net Lease were worth $807,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Creative Planning grew its stake in Global Net Lease by 8.0% in the third quarter. Creative Planning now owns 77,867 shares of the financial services provider’s stock worth $656,000 after purchasing an additional 5,784 shares during the period. Private Advisor Group LLC bought a new position in shares of Global Net Lease in the 3rd quarter worth about $92,000. Mirae Asset Global Investments Co. Ltd. lifted its position in Global Net Lease by 14.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 15,601 shares of the financial services provider’s stock valued at $133,000 after acquiring an additional 1,962 shares during the period. abrdn plc boosted its stake in Global Net Lease by 10.5% during the third quarter. abrdn plc now owns 39,285 shares of the financial services provider’s stock worth $331,000 after acquiring an additional 3,748 shares in the last quarter. Finally, First Trust Direct Indexing L.P. grew its holdings in Global Net Lease by 36.1% in the third quarter. First Trust Direct Indexing L.P. now owns 51,709 shares of the financial services provider’s stock worth $435,000 after purchasing an additional 13,702 shares during the period. Hedge funds and other institutional investors own 61.19% of the company’s stock.

Analyst Upgrades and Downgrades

GNL has been the subject of several recent research reports. Truist Financial lowered their target price on shares of Global Net Lease from $8.50 to $8.00 and set a “hold” rating for the company 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 research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $9.50.

Global Net Lease Stock Performance

GNL stock opened at $8.22 on Tuesday. The stock has a market capitalization of $1.90 billion, a PE ratio of -8.74 and a beta of 1.34. The stock’s 50 day simple moving average is $7.24 and its 200 day simple moving average is $7.76. Global Net Lease, Inc. has a 12-month low of $6.52 and a 12-month high of $9.11. 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 Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Shareholders of record on Monday, January 13th were paid a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 13.38%. The ex-dividend date of this dividend was Monday, January 13th. Global Net Lease’s dividend 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.