Geode Capital Management LLC Grows Holdings in Global Net Lease, Inc. (NYSE:GNL)

Geode Capital Management LLC raised its holdings in shares of Global Net Lease, Inc. (NYSE:GNL) by 0.0% in the fourth quarter, Holdings Channel.com reports. The firm owned 5,095,295 shares of the financial services provider’s stock after buying an additional 1,636 shares during the period. Geode Capital Management LLC’s holdings in Global Net Lease were worth $37,204,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. JPMorgan Chase & Co. increased its position in shares of Global Net Lease by 107.3% in the 4th quarter. JPMorgan Chase & Co. now owns 1,269,118 shares of the financial services provider’s stock worth $9,265,000 after purchasing an additional 656,890 shares during the last quarter. Norges Bank bought a new position in Global Net Lease in the 4th quarter worth approximately $3,219,000. Advisors Asset Management Inc. lifted its holdings in Global Net Lease by 28.9% in 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 purchasing an additional 320,738 shares during the period. TrueMark Investments LLC raised its holdings in Global Net Lease by 65.1% during the fourth quarter. TrueMark Investments LLC now owns 766,419 shares of the financial services provider’s stock worth $5,595,000 after purchasing an additional 302,327 shares in the last quarter. Finally, Barclays PLC grew its holdings in Global Net Lease by 312.3% during the third quarter. Barclays PLC now owns 339,701 shares of the financial services provider’s stock worth $2,859,000 after acquiring an additional 257,310 shares during the period. 61.19% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. 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 note on Tuesday, December 17th. 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. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Global Net Lease presently has an average rating of “Moderate Buy” and an average price target of $9.50.

Global Net Lease Trading Up 4.0 %

Shares of NYSE GNL opened at $7.49 on Wednesday. Global Net Lease, Inc. has a fifty-two week low of $6.51 and a fifty-two week high of $9.11. The company’s 50 day simple moving average is $7.60 and its 200 day simple moving average is $7.57. 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 firm has a market capitalization of $1.71 billion, a P/E ratio of -7.96 and a beta of 1.19.

Global Net Lease Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 16th. Stockholders of record on Friday, April 11th will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 10.15%. The ex-dividend date of this dividend is Friday, April 11th. Global Net Lease’s dividend payout ratio is currently -100.00%.

Insider Activity

In other news, major shareholder Nicholas S. Schorsch sold 200,000 shares of the stock in a transaction dated Thursday, April 3rd. The shares were sold at an average price of $7.95, for a total transaction of $1,590,000.00. Following the completion of the transaction, the insider now directly 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 SEC, which is available at the SEC website. 0.31% of the stock is currently owned by company insiders.

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.