Illinois Municipal Retirement Fund Grows Position in Global Net Lease, Inc. (NYSE:GNL)

Illinois Municipal Retirement Fund lifted its stake in Global Net Lease, Inc. (NYSE:GNL) by 9.2% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 110,578 shares of the financial services provider’s stock after buying an additional 9,330 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Global Net Lease were worth $807,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in GNL. Geode Capital Management LLC boosted its position in shares of 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 worth $42,897,000 after purchasing an additional 95,769 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Global Net Lease by 4.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,058,850 shares of the financial services provider’s stock valued at $34,176,000 after buying an additional 166,247 shares in the last quarter. Advisors Asset Management Inc. boosted its holdings in Global Net Lease by 12.2% in the 3rd quarter. Advisors Asset Management Inc. now owns 1,109,842 shares of the financial services provider’s stock worth $9,345,000 after buying an additional 120,610 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Global Net Lease by 392.8% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,048,596 shares of the financial services provider’s stock worth $8,829,000 after buying an additional 835,830 shares in the last quarter. Finally, Principal Financial Group Inc. raised its holdings in Global Net Lease by 3.0% during the fourth quarter. Principal Financial Group Inc. now owns 960,682 shares of the financial services provider’s stock valued at $7,013,000 after acquiring an additional 27,564 shares during the period. 61.19% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

GNL has been the subject of a number of recent analyst reports. JMP Securities raised Global Net Lease from a “market perform” rating to an “outperform” rating and set a $9.00 price objective for the company in a research note on Tuesday, December 17th. Truist Financial lowered their price target on Global Net Lease from $8.50 to $8.00 and set a “hold” rating on the stock in a report on Friday, November 29th. Finally, Citizens Jmp raised shares of Global Net Lease from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 17th. Three 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 stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $9.50.

Global Net Lease Trading Up 2.8 %

Shares of Global Net Lease stock opened at $8.22 on Tuesday. Global Net Lease, Inc. has a twelve month low of $6.52 and a twelve month high of $9.11. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 0.70. The business has a 50-day moving average price of $7.24 and a 200-day moving average price of $7.76. The firm has a market cap of $1.90 billion, a price-to-earnings ratio of -8.74 and a beta of 1.34.

Global Net Lease Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 16th. Shareholders of record on Monday, January 13th were issued a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 13.38%. The ex-dividend date was Monday, January 13th. Global Net Lease’s dividend payout ratio is presently -144.74%.

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.