MetLife Investment Management LLC Has $902,000 Holdings in Global Net Lease, Inc. (NYSE:GNL)

MetLife Investment Management LLC increased its stake in shares of Global Net Lease, Inc. (NYSE:GNL) by 6.8% during the fourth quarter, HoldingsChannel reports. The fund owned 123,623 shares of the financial services provider’s stock after buying an additional 7,818 shares during the period. MetLife Investment Management LLC’s holdings in Global Net Lease were worth $902,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its stake in shares of Global Net Lease by 31.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 612,228 shares of the financial services provider’s stock valued at $5,155,000 after purchasing an additional 147,803 shares during the period. HB Wealth Management LLC acquired a new stake in Global Net Lease in the 4th quarter valued at approximately $81,000. PFG Investments LLC lifted its stake in Global Net Lease by 177.2% in the 4th quarter. PFG Investments LLC now owns 86,497 shares of the financial services provider’s stock valued at $631,000 after acquiring an additional 55,293 shares in the last quarter. Barclays PLC lifted its stake in Global Net Lease by 312.3% in the 3rd quarter. Barclays PLC now owns 339,701 shares of the financial services provider’s stock valued at $2,859,000 after acquiring an additional 257,310 shares in the last quarter. Finally, US Bancorp DE boosted its position in Global Net Lease by 363.2% during the 4th quarter. US Bancorp DE now owns 6,072 shares of the financial services provider’s stock worth $44,000 after acquiring an additional 4,761 shares during the last quarter. 61.19% of the stock is owned by institutional investors.

Insider Activity

In other news, major shareholder Nicholas S. Schorsch sold 200,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 3rd. The stock was sold at an average price of $7.95, for a total value of $1,590,000.00. Following the completion of the sale, the insider now directly owns 1,629,073 shares of the company’s stock, valued at $12,951,130.35. This trade represents a 10.93 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.37% of the company’s stock.

Global Net Lease Stock Up 0.1 %

GNL stock opened at $7.49 on Friday. The company has a market cap of $1.71 billion, a price-to-earnings ratio of -7.97 and a beta of 1.19. Global Net Lease, Inc. has a twelve month low of $6.51 and a twelve month high of $9.11. The business has a 50 day moving average price of $7.69 and a two-hundred day moving average price of $7.50. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 0.70.

Global Net Lease Cuts Dividend

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

Wall Street Analyst Weigh In

Separately, B. Riley started coverage on shares of Global Net Lease in a research report on Tuesday, April 22nd. They issued a “neutral” rating and a $8.00 price objective on the stock. Three research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $9.00.

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.