Global Net Lease Inc (NYSE:GNL) CEO James Larry Nelson bought 6,000 shares of the firm’s stock in a transaction on Tuesday, March 5th. The shares were bought at an average price of $18.41 per share, for a total transaction of $110,460.00. Following the completion of the transaction, the chief executive officer now directly owns 14,000 shares in the company, valued at approximately $257,740. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
Shares of GNL stock opened at $18.53 on Friday. Global Net Lease Inc has a twelve month low of $16.22 and a twelve month high of $22.53. The stock has a market capitalization of $1.55 billion, a P/E ratio of 8.55 and a beta of 0.69. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.09 and a quick ratio of 0.09.
The company also recently announced a monthly dividend, which was paid on Friday, February 15th. Investors of record on Friday, February 8th were paid a $0.1775 dividend. This represents a $2.13 annualized dividend and a yield of 11.49%. The ex-dividend date of this dividend was Thursday, February 7th.
A number of hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC increased its stake in shares of Global Net Lease by 5.9% during the 4th quarter. Geode Capital Management LLC now owns 774,325 shares of the financial services provider’s stock valued at $13,643,000 after acquiring an additional 42,953 shares during the last quarter. Norges Bank acquired a new position in shares of Global Net Lease during the 4th quarter valued at about $19,165,000. Dimensional Fund Advisors LP increased its stake in shares of Global Net Lease by 12.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,058,090 shares of the financial services provider’s stock valued at $18,644,000 after acquiring an additional 113,780 shares during the last quarter. Millennium Management LLC acquired a new position in shares of Global Net Lease during the 4th quarter valued at about $597,000. Finally, PVG Asset Management Corp acquired a new position in shares of Global Net Lease during the 4th quarter valued at about $352,000. 65.24% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts have commented on GNL shares. Zacks Investment Research lowered shares of Global Net Lease from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 15th. B. Riley upgraded shares of Global Net Lease from a “neutral” rating to a “buy” rating and decreased their price objective for the stock from $25.00 to $24.00 in a research report on Friday. Finally, JMP Securities began coverage on shares of Global Net Lease in a research report on Tuesday, December 11th. They issued a “market perform” rating on the stock. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Global Net Lease presently has an average rating of “Hold” and an average target price of $24.00.
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About Global Net Lease
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.
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