Concorde Asset Management LLC Purchases 4,300 Shares of Global Net Lease, Inc. (NYSE:GNL)

Concorde Asset Management LLC grew its holdings in shares of Global Net Lease, Inc. (NYSE:GNL) by 6.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 71,755 shares of the financial services provider’s stock after purchasing an additional 4,300 shares during the quarter. Concorde Asset Management LLC’s holdings in Global Net Lease were worth $524,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Geode Capital Management LLC boosted its holdings in 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 buying an additional 95,769 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Global Net Lease by 31.8% during the third quarter. JPMorgan Chase & Co. now owns 612,228 shares of the financial services provider’s stock worth $5,155,000 after acquiring an additional 147,803 shares in the last quarter. HB Wealth Management LLC bought a new position in shares of Global Net Lease in the fourth quarter worth $81,000. PFG Investments LLC grew its position in shares of Global Net Lease by 177.2% in the fourth quarter. PFG Investments LLC now owns 86,497 shares of the financial services provider’s stock valued at $631,000 after purchasing an additional 55,293 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new stake in shares of Global Net Lease during the 3rd quarter valued at $589,000. Hedge funds and other institutional investors own 61.19% of the company’s stock.

Insider Buying and Selling

In related news, major shareholder Nicholas S. Schorsch sold 200,000 shares of the stock in a transaction 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 transaction, the insider now owns 1,629,073 shares of the company’s stock, valued at $12,951,130.35. This represents a 10.93 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.31% of the stock is owned by company insiders.

Global Net Lease Price Performance

Global Net Lease stock opened at $6.89 on Friday. The business has a 50-day simple moving average of $7.59 and a 200 day simple moving average of $7.60. Global Net Lease, Inc. has a 52 week low of $6.51 and a 52 week high of $9.11. The stock has a market cap of $1.59 billion, a price-to-earnings ratio of -7.33 and a beta of 1.19. 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 business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 16th. Investors of record on Friday, April 11th will be given a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 11.02%. The ex-dividend date is Friday, April 11th. Global Net Lease’s dividend payout ratio (DPR) is -100.00%.

Analyst Ratings Changes

Several research analysts have commented on the company. Citizens Jmp upgraded Global Net Lease from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 17th. JMP Securities raised shares of Global Net Lease from a “market perform” rating to an “outperform” rating and set a $9.00 price target on the stock in a report on Tuesday, December 17th. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target 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.