Miller Global Investments LLC Makes New Investment in Global Net Lease, Inc. $GNL

Miller Global Investments LLC bought a new stake in Global Net Lease, Inc. (NYSE:GNL) during the fourth quarter, Holdings Channel.com reports. The firm bought 148,511 shares of the financial services provider’s stock, valued at approximately $1,277,000. Global Net Lease makes up about 1.2% of Miller Global Investments LLC’s holdings, making the stock its 20th biggest holding.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Eastern Bank bought a new position in shares of Global Net Lease during the third quarter worth about $33,000. Northwestern Mutual Wealth Management Co. lifted its position in Global Net Lease by 180.4% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 5,953 shares of the financial services provider’s stock valued at $45,000 after purchasing an additional 3,830 shares during the last quarter. Focus Partners Wealth bought a new stake in Global Net Lease in the 3rd quarter valued at about $61,000. Promus Capital LLC acquired a new position in Global Net Lease during the 3rd quarter valued at about $62,000. Finally, Hantz Financial Services Inc. boosted its stake in Global Net Lease by 117.0% during the 3rd quarter. Hantz Financial Services Inc. now owns 10,135 shares of the financial services provider’s stock valued at $82,000 after purchasing an additional 5,465 shares during the period. Institutional investors and hedge funds own 61.19% of the company’s stock.

Wall Street Analyst Weigh In

GNL has been the subject of several recent analyst reports. Citizens Jmp raised their price target on shares of Global Net Lease from $9.00 to $10.00 and gave the company a “market outperform” rating in a research note on Monday, January 12th. Wall Street Zen upgraded Global Net Lease from a “sell” rating to a “buy” rating in a research report on Saturday, February 28th. Cantor Fitzgerald raised Global Net Lease to a “strong-buy” rating in a report on Wednesday, February 4th. Finally, Citigroup restated an “outperform” rating on shares of Global Net Lease in a research report on Monday, January 12th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $10.00.

Global Net Lease Stock Down 0.6%

NYSE GNL opened at $9.57 on Friday. The company has a market capitalization of $2.05 billion, a P/E ratio of -8.04 and a beta of 1.11. Global Net Lease, Inc. has a 12 month low of $6.51 and a 12 month high of $10.04. The company’s 50 day simple moving average is $9.51 and its 200 day simple moving average is $8.58. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.09 and a quick ratio of 0.09.

Global Net Lease Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 16th. Stockholders of record on Monday, January 12th were issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 7.9%. The ex-dividend date of this dividend was Monday, January 12th. Global Net Lease’s dividend payout ratio is currently -63.87%.

About Global Net Lease

Global Net Lease (NYSE: GNL) is a real estate investment trust (REIT) that focuses on acquiring and managing a diversified portfolio of single-tenant, net-lease commercial properties. The company’s business model centers on establishing long-term, triple-net leases with creditworthy tenants, enabling the pass-through of property operating expenses while aiming to provide predictable rental income and stable cash flows. Global Net Lease’s portfolio spans retail, industrial, office and light-industrial assets, each selected for its strategic location and tenant credit quality.

Since launching its initial public offering in April 2016, Global Net Lease has built a presence in key markets throughout the United States and Western Europe.