Sound Income Strategies LLC Grows Stake in Global Net Lease, Inc. (NYSE:GNL)

Sound Income Strategies LLC grew its position in shares of Global Net Lease, Inc. (NYSE:GNL – Get Rating) by 22.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 517,691 shares of the financial services provider’s stock after purchasing an additional 93,618 shares during the period. Sound Income Strategies LLC owned approximately 0.50% of Global Net Lease worth $6,507,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. Kovack Advisors Inc. grew its position in shares of Global Net Lease by 2.3% during the 3rd quarter. Kovack Advisors Inc. now owns 38,032 shares of the financial services provider’s stock valued at $405,000 after purchasing an additional 851 shares in the last quarter. LPL Financial LLC grew its position in shares of Global Net Lease by 1.2% during the 2nd quarter. LPL Financial LLC now owns 80,748 shares of the financial services provider’s stock valued at $1,143,000 after purchasing an additional 982 shares in the last quarter. Cetera Advisor Networks LLC grew its position in Global Net Lease by 3.8% in the second quarter. Cetera Advisor Networks LLC now owns 27,563 shares of the financial services provider’s stock worth $390,000 after acquiring an additional 1,008 shares in the last quarter. Cetera Investment Advisers grew its position in Global Net Lease by 3.0% in the first quarter. Cetera Investment Advisers now owns 36,037 shares of the financial services provider’s stock worth $567,000 after acquiring an additional 1,047 shares in the last quarter. Finally, CIBC Asset Management Inc grew its position in Global Net Lease by 9.9% in the third quarter. CIBC Asset Management Inc now owns 13,286 shares of the financial services provider’s stock worth $141,000 after acquiring an additional 1,194 shares in the last quarter. 70.40% of the stock is currently owned by hedge funds and other institutional investors.

Global Net Lease Trading Down 3.3 %

Global Net Lease stock traded down $0.42 during mid-day trading on Friday, hitting $12.27. The company’s stock had a trading volume of 2,384,531 shares, compared to its average volume of 678,583. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.06 and a quick ratio of 0.06. The stock has a market cap of $1.27 billion, a price-to-earnings ratio of -136.33, a price-to-earnings-growth ratio of 1.52 and a beta of 1.28. The business has a 50 day moving average price of $14.09 and a 200-day moving average price of $13.07. Global Net Lease, Inc. has a 12 month low of $9.82 and a 12 month high of $16.01.

Global Net Lease Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 17th. Shareholders of record on Friday, January 13th were paid a $0.40 dividend. The ex-dividend date of this dividend was Thursday, January 12th. This is an increase from Global Net Lease’s previous quarterly dividend of $0.06. This represents a $1.60 annualized dividend and a yield of 13.04%. Global Net Lease’s payout ratio is currently -1,777.78%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on GNL shares. BNP Paribas started coverage on shares of Global Net Lease in a research report on Thursday. They issued an “underperform” rating and a $13.00 target price for the company. StockNews.com started coverage on shares of Global Net Lease in a research report on Thursday. They issued a “hold” rating for the company.

About Global Net Lease

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Global Net Lease, Inc engages in real estate investment service. It focuses 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.