Zurcher Kantonalbank Zurich Cantonalbank Acquires 3,494 Shares of Global Net Lease, Inc. (NYSE:GNL)

Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Global Net Lease, Inc. (NYSE:GNL) by 5.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 71,991 shares of the financial services provider’s stock after acquiring an additional 3,494 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Global Net Lease were worth $716,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in GNL. Beaird Harris Wealth Management LLC bought a new position in Global Net Lease in the 3rd quarter worth about $26,000. Gradient Investments LLC boosted its position in shares of Global Net Lease by 98.9% in the third quarter. Gradient Investments LLC now owns 2,942 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 1,463 shares during the period. Turtle Creek Wealth Advisors LLC purchased a new position in Global Net Lease during the fourth quarter valued at approximately $31,000. Spire Wealth Management increased its holdings in Global Net Lease by 221.9% during the 3rd quarter. Spire Wealth Management now owns 3,299 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 2,274 shares during the period. Finally, Wolff Wiese Magana LLC purchased a new stake in Global Net Lease in the 3rd quarter worth approximately $34,000. 61.19% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on GNL shares. Truist Financial began coverage on shares of Global Net Lease in a report on Thursday, March 28th. They issued a “hold” rating and a $7.00 price target on the stock. BMO Capital Markets assumed coverage on Global Net Lease in a report on Tuesday, February 13th. They issued an “outperform” rating and a $11.00 price target on the stock. JMP Securities reissued a “market perform” rating on shares of Global Net Lease in a report on Thursday, April 18th. Finally, BTIG Research downgraded shares of 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 given a buy rating to the stock. According to MarketBeat, Global Net Lease presently has an average rating of “Hold” and a consensus target price of $12.00.

Global Net Lease Price Performance

GNL opened at $7.00 on Tuesday. The stock has a market capitalization of $1.62 billion, a P/E ratio of -4.05, a PEG ratio of 0.89 and a beta of 1.34. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.66. Global Net Lease, Inc. has a 12-month low of $6.52 and a 12-month high of $11.58. The stock has a 50-day moving average price of $7.29 and a 200-day moving average price of $8.28.

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 issued a $0.275 dividend. The ex-dividend date of this dividend was Wednesday, April 10th. This represents a $1.10 annualized dividend and a dividend yield of 15.71%. This is an increase from Global Net Lease’s previous quarterly dividend of $0.06. Global Net Lease’s payout ratio is currently -63.58%.

Global Net Lease Profile

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.