Cadence Bank Buys Shares of 20,500 Global Net Lease, Inc. (NYSE:GNL)

Cadence Bank bought a new stake in Global Net Lease, Inc. (NYSE:GNL) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 20,500 shares of the financial services provider’s stock, valued at approximately $159,000.

Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Global Net Lease by 83.8% during the third quarter. Vanguard Group Inc. now owns 30,770,077 shares of the financial services provider’s stock valued at $295,700,000 after purchasing an additional 14,033,117 shares in the last quarter. Corient Private Wealth LLC raised its stake in shares of Global Net Lease by 3,410.4% during the fourth quarter. Corient Private Wealth LLC now owns 2,688,951 shares of the financial services provider’s stock valued at $26,755,000 after purchasing an additional 2,612,351 shares in the last quarter. Norges Bank bought a new stake in shares of Global Net Lease during the fourth quarter valued at about $9,378,000. Edgestream Partners L.P. bought a new stake in shares of Global Net Lease during the first quarter valued at about $3,798,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Global Net Lease by 25.9% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,236,299 shares of the financial services provider’s stock valued at $17,376,000 after purchasing an additional 460,717 shares in the last quarter. 61.19% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on GNL shares. JMP Securities reiterated a “market perform” rating on shares of Global Net Lease in a research report on Wednesday, June 12th. BMO Capital Markets reiterated an “outperform” rating and issued a $11.00 price target on shares of Global Net Lease in a research report on Friday, June 28th. Finally, Truist Financial started coverage on shares of Global Net Lease in a research report on Thursday, March 28th. They issued a “hold” rating and a $7.00 price target on the stock. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, Global Net Lease presently has a consensus rating of “Hold” and an average price target of $11.00.

Insiders Place Their Bets

In other Global Net Lease news, major shareholder Nicholas S. Schorsch sold 433,350 shares of the business’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $7.19, for a total transaction of $3,115,786.50. Following the sale, the insider now owns 2,679,073 shares in the company, valued at approximately $19,262,534.87. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, major shareholder Nicholas S. Schorsch sold 159,720 shares of the business’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $7.32, for a total value of $1,169,150.40. Following the completion of the sale, the insider now owns 3,546,752 shares of the company’s stock, valued at approximately $25,962,224.64. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder Nicholas S. Schorsch sold 433,350 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $7.19, for a total value of $3,115,786.50. Following the completion of the sale, the insider now directly owns 2,679,073 shares of the company’s stock, valued at approximately $19,262,534.87. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,043,070 shares of company stock worth $7,497,437. Company insiders own 0.31% of the company’s stock.

Global Net Lease Price Performance

Global Net Lease stock traded up $0.23 during midday trading on Friday, hitting $8.96. The company’s stock had a trading volume of 1,099,340 shares, compared to its average volume of 1,547,244. The stock’s 50-day moving average price is $7.61 and its 200-day moving average price is $7.71. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.70. The company has a market capitalization of $2.06 billion, a PE ratio of -4.85, a price-to-earnings-growth ratio of 1.12 and a beta of 1.38. Global Net Lease, Inc. has a 12 month low of $6.52 and a 12 month high of $11.58.

Global Net Lease Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 16th. Shareholders of record on Thursday, July 11th were issued a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 12.28%. The ex-dividend date was Thursday, July 11th. This is an increase from Global Net Lease’s previous quarterly dividend of $0.06. Global Net Lease’s payout ratio is presently -60.44%.

Global Net Lease Company Profile

Global Net Lease, Inc (NYSE: GNL) is a publicly traded real estate investment trust listed on the NYSE 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.