MetLife Investment Management LLC Acquires 7,818 Shares of Global Net Lease, Inc. (NYSE:GNL)

MetLife Investment Management LLC lifted its holdings in Global Net Lease, Inc. (NYSE:GNL) by 6.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 123,623 shares of the financial services provider’s stock after buying an additional 7,818 shares during the quarter. MetLife Investment Management LLC owned about 0.05% of Global Net Lease worth $902,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. First Trust Advisors LP raised its stake in shares of Global Net Lease by 346.6% in the fourth quarter. First Trust Advisors LP now owns 163,055 shares of the financial services provider’s stock worth $1,190,000 after acquiring an additional 126,541 shares during the last quarter. CANADA LIFE ASSURANCE Co raised its position in Global Net Lease by 2.3% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 422,932 shares of the financial services provider’s stock worth $3,082,000 after purchasing an additional 9,354 shares during the last quarter. Marshall Wace LLP bought a new position in Global Net Lease in the 4th quarter valued at $4,021,000. Jump Financial LLC acquired a new stake in shares of Global Net Lease in the 4th quarter valued at $99,000. Finally, Guggenheim Capital LLC raised its position in shares of Global Net Lease by 21.1% during the fourth quarter. Guggenheim Capital LLC now owns 137,126 shares of the financial services provider’s stock worth $1,001,000 after acquiring an additional 23,859 shares during the last quarter. Institutional investors and hedge funds own 61.19% of the company’s stock.

Insider Transactions at Global Net Lease

In related news, major shareholder Nicholas S. Schorsch sold 200,000 shares of the company’s stock in a transaction on Thursday, April 3rd. The shares were sold at an average price of $7.95, for a total value of $1,590,000.00. Following the completion of the sale, the insider now owns 1,629,073 shares in the company, valued at $12,951,130.35. This represents a 10.93 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.37% of the company’s stock.

Wall Street Analyst Weigh In

Separately, B. Riley initiated coverage on Global Net Lease in a report on Tuesday, April 22nd. They issued a “neutral” rating and a $8.00 price target on the stock. Three analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $9.00.

Global Net Lease Stock Performance

GNL stock opened at $7.49 on Friday. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 0.70. Global Net Lease, Inc. has a twelve month low of $6.51 and a twelve month high of $9.11. The business’s fifty day moving average is $7.69 and its 200-day moving average is $7.50. The company has a market cap of $1.71 billion, a P/E ratio of -7.97 and a beta of 1.19.

Global Net Lease Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 16th. Shareholders of record on Friday, April 11th were issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 10.15%. The ex-dividend date of this dividend was Friday, April 11th. Global Net Lease’s dividend payout ratio (DPR) is currently -100.00%.

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.