Illinois Municipal Retirement Fund Raises Stake in Global Net Lease, Inc. (NYSE:GNL)

Illinois Municipal Retirement Fund lifted its holdings in shares of Global Net Lease, Inc. (NYSE:GNL) by 71.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 107,744 shares of the financial services provider’s stock after purchasing an additional 44,788 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Global Net Lease were worth $1,072,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of GNL. Vanguard Group Inc. grew its holdings in shares of Global Net Lease by 83.8% during the 3rd quarter. Vanguard Group Inc. now owns 30,770,077 shares of the financial services provider’s stock worth $295,700,000 after purchasing an additional 14,033,117 shares during the period. Hsbc Holdings PLC grew its holdings in shares of Global Net Lease by 8,487.0% during the 3rd quarter. Hsbc Holdings PLC now owns 4,832,588 shares of the financial services provider’s stock worth $46,536,000 after purchasing an additional 4,776,310 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Global Net Lease by 80.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,991,844 shares of the financial services provider’s stock worth $38,362,000 after purchasing an additional 1,778,131 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Global Net Lease by 93.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,497,508 shares of the financial services provider’s stock worth $33,611,000 after purchasing an additional 1,686,201 shares during the period. Finally, LSV Asset Management grew its holdings in shares of Global Net Lease by 65.9% during the 3rd quarter. LSV Asset Management now owns 3,811,477 shares of the financial services provider’s stock worth $36,628,000 after purchasing an additional 1,514,319 shares during the period. 61.19% of the stock is currently owned by hedge funds and other institutional investors.

Global Net Lease Trading Down 0.1 %

GNL stock opened at $6.91 on Friday. The business’s 50-day moving average is $7.31 and its two-hundred day moving average is $8.28. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.66. Global Net Lease, Inc. has a 1 year low of $6.52 and a 1 year high of $11.58.

Global Net Lease Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 16th. Stockholders of record on Thursday, April 11th were paid a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 15.92%. The ex-dividend date was Wednesday, April 10th. This is a boost from Global Net Lease’s previous quarterly dividend of $0.06. Global Net Lease’s dividend payout ratio (DPR) is presently -63.58%.

Wall Street Analyst Weigh In

GNL has been the subject of a number of research analyst reports. Truist Financial initiated coverage on Global Net Lease in a report on Thursday, March 28th. They set a “hold” rating and a $7.00 price target for the company. JMP Securities reissued a “market perform” rating on shares of Global Net Lease in a research note on Thursday, April 18th. BMO Capital Markets assumed coverage on Global Net Lease in a research note on Tuesday, February 13th. They set an “outperform” rating and a $11.00 target price on the stock. Finally, BTIG Research lowered Global Net Lease from a “buy” rating to a “neutral” rating in a research note on Friday, March 8th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, Global Net Lease currently has a consensus rating of “Hold” and a consensus price target of $12.00.

About Global Net Lease

Global Net Lease, Inc (NYSE: GNL) is a publicly traded real estate investment trust listed on the NYSE 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.