National Asset Management Inc. decreased its holdings in shares of Global Net Lease, Inc. (NYSE:GNL) by 22.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 214,138 shares of the financial services provider’s stock after selling 61,382 shares during the period. Global Net Lease makes up about 0.8% of National Asset Management Inc.’s portfolio, making the stock its 27th largest position. National Asset Management Inc. owned approximately 0.32% of Global Net Lease worth $4,688,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Daiwa Securities Group Inc. raised its holdings in Global Net Lease by 6.6% during the second quarter. Daiwa Securities Group Inc. now owns 4,866 shares of the financial services provider’s stock worth $108,000 after buying an additional 300 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Global Net Lease by 50.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,368 shares of the financial services provider’s stock valued at $119,000 after purchasing an additional 1,793 shares during the last quarter. GAM Holding AG raised its holdings in shares of Global Net Lease by 48.6% in the second quarter. GAM Holding AG now owns 5,500 shares of the financial services provider’s stock valued at $122,000 after purchasing an additional 1,800 shares during the last quarter. Schroder Investment Management Group purchased a new stake in shares of Global Net Lease in the third quarter valued at about $159,000. Finally, Pacad Investment Ltd. raised its holdings in shares of Global Net Lease by 89.1% in the second quarter. Pacad Investment Ltd. now owns 8,701 shares of the financial services provider’s stock valued at $194,000 after purchasing an additional 4,100 shares during the last quarter. Hedge funds and other institutional investors own 44.44% of the company’s stock.
In other news, CEO James Larry Nelson bought 2,000 shares of the stock in a transaction dated Monday, November 20th. The stock was bought at an average price of $21.48 per share, for a total transaction of $42,960.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.19% of the company’s stock.
The company also recently announced a monthly dividend, which was paid on Wednesday, November 15th. Stockholders of record on Wednesday, November 8th were issued a $0.1775 dividend. The ex-dividend date of this dividend was Tuesday, November 7th. This represents a $2.13 annualized dividend and a dividend yield of 9.83%. Global Net Lease’s dividend payout ratio is currently 434.68%.
Several brokerages have recently commented on GNL. BidaskClub downgraded shares of Global Net Lease from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 9th. FBR & Co reiterated a “hold” rating on shares of Global Net Lease in a report on Tuesday, October 10th. Zacks Investment Research downgraded shares of Global Net Lease from a “hold” rating to a “sell” rating in a report on Tuesday, September 26th. Finally, B. Riley reiterated a “neutral” rating and issued a $26.00 target price on shares of Global Net Lease in a report on Tuesday, November 7th.
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About Global Net Lease
Global Net Lease, Inc is a real estate investment trust. The Company’s business consists of owning, managing, operating, leasing, acquiring, investing in and disposing of real estate assets. It owns and invests in commercial properties principally in the United States, the United Kingdom and continental Europe that are then leased to companies.
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