Global Net Lease, Inc. (GNL) Shares Set to Reverse Split on Wednesday, March 1st
Global Net Lease, Inc. (NYSE:GNL)’s stock is set to reverse split on the morning of Wednesday, March 1st. The 1-3 reverse split was announced on Wednesday, February 8th. The number of shares owned by shareholders will be adjusted after the market closes on Tuesday, February 28th.
Global Net Lease (NYSE:GNL) opened at 8.18 on Friday. The company has a market cap of $1.39 billion, a P/E ratio of 32.33 and a beta of 0.64. The stock has a 50 day moving average of $7.84 and a 200-day moving average of $7.90. Global Net Lease has a 12 month low of $6.92 and a 12 month high of $8.98.
The business also recently announced a monthly dividend, which was paid on Wednesday, February 15th. Investors of record on Wednesday, February 8th were paid a dividend of $0.0592 per share. This represents a $0.71 annualized dividend and a yield of 8.68%. The ex-dividend date of this dividend was Monday, February 6th. Global Net Lease’s dividend payout ratio is presently 284.00%.
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Several research analysts recently issued reports on the stock. Zacks Investment Research raised shares of Global Net Lease from a “sell” rating to a “hold” rating in a research note on Monday, December 19th. FBR & Co reissued a “hold” rating and set a $8.15 target price on shares of Global Net Lease in a research note on Sunday, January 8th.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Guggenheim Capital LLC raised its position in shares of Global Net Lease by 12.9% in the fourth quarter. Guggenheim Capital LLC now owns 41,773 shares of the company’s stock valued at $327,000 after buying an additional 4,776 shares in the last quarter. First Republic Investment Management Inc. bought a new position in shares of Global Net Lease during the fourth quarter valued at about $105,000. Girard Securities Inc. raised its position in shares of Global Net Lease by 6.9% in the fourth quarter. Girard Securities Inc. now owns 84,500 shares of the company’s stock valued at $662,000 after buying an additional 5,477 shares in the last quarter. First Allied Advisory Services Inc. raised its position in shares of Global Net Lease by 21.4% in the fourth quarter. First Allied Advisory Services Inc. now owns 484,398 shares of the company’s stock valued at $3,793,000 after buying an additional 85,345 shares in the last quarter. Finally, Credit Agricole S A raised its position in shares of Global Net Lease by 25.8% in the fourth quarter. Credit Agricole S A now owns 87,774 shares of the company’s stock valued at $687,000 after buying an additional 18,016 shares in the last quarter. 30.64% of the stock is currently owned by institutional investors and hedge funds.
Global Net Lease Company Profile
Global Net Lease, Inc is a real estate investment trust that focuses on acquiring and managing a portfolio of strategically located commercial real estate properties. The Company’s business consists of owning, managing, operating, leasing, acquiring, investing in and disposing of real estate assets. The Company focuses its investments on commercial and retail properties, including special use single tenant properties.
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