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

Modern Wealth Management LLC cut its stake in shares of Global Net Lease, Inc. (NYSE:GNL) by 8.8% during the 4th quarter, Holdings Channel.com reports. The firm 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 SEC.

Other hedge funds have also bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of 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 worth $8,829,000 after acquiring an additional 835,830 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Global Net Lease by 4.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,058,850 shares of the financial services provider’s stock worth $34,176,000 after purchasing an additional 166,247 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Global Net Lease by 1.9% during the 3rd quarter. Geode Capital Management LLC now owns 5,093,659 shares of the financial services provider’s stock valued at $42,897,000 after purchasing an additional 95,769 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Global Net Lease by 31.8% during the third quarter. JPMorgan Chase & Co. now owns 612,228 shares of the financial services provider’s stock valued at $5,155,000 after purchasing an additional 147,803 shares in the last quarter. Finally, HB Wealth Management LLC bought a new stake in shares of Global Net Lease in the fourth quarter worth about $81,000. Institutional investors own 61.19% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Truist Financial dropped their price target on Global Net Lease from $8.50 to $8.00 and set a “hold” rating for the company in a research note on Friday, November 29th. Citizens Jmp upgraded Global Net Lease from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 17th. Finally, JMP Securities raised shares of Global Net Lease from a “market perform” rating to an “outperform” rating and set a $9.00 target price for the company in a report on Tuesday, December 17th. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $9.50.

Global Net Lease Trading Up 0.2 %

GNL opened at $7.99 on Friday. The stock has a 50-day moving average of $7.55 and a 200 day moving average of $7.70. 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, Inc. has a 12 month low of $6.52 and a 12 month high of $9.11. The firm has a market cap of $1.84 billion, a P/E ratio of -8.49 and a beta of 1.33.

Global Net Lease Announces Dividend

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