TrueMark Investments LLC Has $5.60 Million Stake in Global Net Lease, Inc. (NYSE:GNL)

TrueMark Investments LLC boosted its stake in shares of Global Net Lease, Inc. (NYSE:GNL) by 65.1% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 766,419 shares of the financial services provider’s stock after acquiring an additional 302,327 shares during the period. Global Net Lease accounts for 1.8% of TrueMark Investments LLC’s portfolio, making the stock its 7th largest holding. TrueMark Investments LLC owned approximately 0.33% of Global Net Lease worth $5,595,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the stock. Intech Investment Management LLC purchased a new stake in shares of Global Net Lease during the 3rd quarter worth approximately $434,000. Charles Schwab Investment Management Inc. increased its position in Global Net Lease by 4.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,058,850 shares of the financial services provider’s stock worth $34,176,000 after purchasing an additional 166,247 shares during the last quarter. Citigroup Inc. raised its stake in Global Net Lease by 52.8% during the third quarter. Citigroup Inc. now owns 771,371 shares of the financial services provider’s stock valued at $6,495,000 after purchasing an additional 266,647 shares in the last quarter. Cerity Partners LLC lifted its position in Global Net Lease by 114.8% during the third quarter. Cerity Partners LLC now owns 50,435 shares of the financial services provider’s stock valued at $425,000 after purchasing an additional 26,959 shares during the last quarter. Finally, Algert Global LLC grew its stake in shares of Global Net Lease by 255.4% in the 3rd quarter. Algert Global LLC now owns 277,584 shares of the financial services provider’s stock worth $2,337,000 after buying an additional 199,480 shares in the last quarter. Hedge funds and other institutional investors own 61.19% of the company’s stock.

Global Net Lease Stock Performance

Global Net Lease stock opened at $7.95 on Wednesday. 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 $1.83 billion, a P/E ratio of -8.46 and a beta of 1.33. Global Net Lease, Inc. has a 1-year low of $6.52 and a 1-year high of $9.11. The company’s 50-day moving average is $7.50 and its 200 day moving average is $7.70.

Global Net Lease Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 16th. Stockholders of record on Monday, January 13th were issued a $0.275 dividend. The ex-dividend date was Monday, January 13th. This represents a $1.10 annualized dividend and a dividend yield of 13.84%. Global Net Lease’s payout ratio is -144.74%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on GNL shares. JMP Securities upgraded shares of Global Net Lease from a “market perform” rating to an “outperform” rating and set a $9.00 target price on the stock in a research report on Tuesday, December 17th. Citizens Jmp upgraded Global Net Lease from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 17th. Finally, Truist Financial lowered their price objective on Global Net Lease from $8.50 to $8.00 and set a “hold” rating for the company in a research note on Friday, November 29th. Two analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Global Net Lease has an average rating of “Moderate Buy” and a consensus target price of $9.50.

Global Net Lease Company 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.