Nomura Asset Management Co. Ltd. Boosts Stock Position in Global Net Lease, Inc. (NYSE:GNL)

Nomura Asset Management Co. Ltd. raised its stake in shares of Global Net Lease, Inc. (NYSE:GNL) by 4.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 255,600 shares of the financial services provider’s stock after buying an additional 10,200 shares during the quarter. Nomura Asset Management Co. Ltd. owned about 0.11% of Global Net Lease worth $1,866,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. Geode Capital Management LLC raised its position in shares of Global Net Lease by 1.9% in the 3rd quarter. Geode Capital Management LLC now owns 5,093,659 shares of the financial services provider’s stock worth $42,897,000 after purchasing an additional 95,769 shares during the last quarter. Charles Schwab Investment Management Inc. lifted 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 worth $30,454,000 after buying an additional 112,908 shares in the last quarter. Corient Private Wealth LLC grew its holdings in shares of 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 valued at $17,115,000 after buying an additional 21,823 shares during the last quarter. Advisors Asset Management Inc. increased its position in shares of 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 valued at $10,443,000 after acquiring an additional 320,738 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in 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 acquiring an additional 656,890 shares during the last quarter. 61.19% of the stock is owned by institutional investors.

Global Net Lease Stock Performance

GNL stock opened at $7.96 on Thursday. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.06 and a quick ratio of 0.06. Global Net Lease, Inc. has a 1 year low of $6.52 and a 1 year high of $9.11. The company has a market cap of $1.84 billion, a P/E ratio of -8.47 and a beta of 1.18. The stock’s fifty day moving average price is $7.59 and its 200-day moving average price is $7.68.

Global Net Lease Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 16th. Investors of record on Friday, April 11th will be issued a $0.19 dividend. The ex-dividend date of this dividend is Friday, April 11th. This represents a $0.76 dividend on an annualized basis and a yield of 9.55%. Global Net Lease’s dividend payout ratio is currently -144.74%.

Wall Street Analyst Weigh In

Several brokerages have commented on GNL. JMP Securities raised 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. Citizens Jmp upgraded Global Net Lease from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 17th. Two 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. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $9.50.

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.