Resona Asset Management Co. Ltd. Makes New Investment in Global Net Lease, Inc. (NYSE:GNL)

Resona Asset Management Co. Ltd. acquired a new stake in Global Net Lease, Inc. (NYSE:GNL) in the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 78,858 shares of the financial services provider’s stock, valued at approximately $569,000.

A number of other hedge funds and other institutional investors have also modified their holdings of GNL. Geode Capital Management LLC grew its stake in Global Net Lease by 1.9% in the third 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 in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Global Net Lease by 2.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,171,758 shares of the financial services provider’s stock valued at $30,454,000 after buying an additional 112,908 shares in the last quarter. Helix Partners Management LP acquired a new position in Global Net Lease during the fourth quarter worth $24,455,000. Corient Private Wealth LLC increased its holdings in Global Net Lease by 0.9% during the fourth quarter. Corient Private Wealth LLC now owns 2,344,533 shares of the financial services provider’s stock worth $17,115,000 after buying an additional 21,823 shares during the last quarter. Finally, Advisors Asset Management Inc. raised its position in Global Net Lease by 28.9% during the fourth quarter. Advisors Asset Management Inc. now owns 1,430,580 shares of the financial services provider’s stock worth $10,443,000 after acquiring an additional 320,738 shares in 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 business’s stock in a transaction on Thursday, April 3rd. The stock was 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 directly owns 1,629,073 shares in the company, valued at $12,951,130.35. The trade was a 10.93 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.31% of the company’s stock.

Global Net Lease Price Performance

Shares of GNL opened at $6.89 on Friday. The firm has a market capitalization of $1.59 billion, a PE ratio of -7.33 and a beta of 1.19. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.06 and a quick ratio of 0.06. The company’s 50-day moving average is $7.59 and its 200-day moving average is $7.60. Global Net Lease, Inc. has a fifty-two week low of $6.51 and a fifty-two week high of $9.11.

Global Net Lease Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 16th. Shareholders of record on Friday, April 11th will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Friday, April 11th. This represents a $0.76 annualized dividend and a yield of 11.02%. Global Net Lease’s dividend payout ratio (DPR) is presently -100.00%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Citizens Jmp raised shares of Global Net Lease from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 17th. JMP Securities raised Global Net Lease from a “market perform” rating to an “outperform” rating and set a $9.00 price target on the stock in a research 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 assigned a strong buy rating to the stock. Based on data from MarketBeat, Global Net Lease has a consensus rating of “Moderate Buy” and an average price target of $9.50.

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.