New York State Teachers Retirement System raised its holdings in Global Net Lease Inc (NYSE:GNL) by 2.0% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 56,706 shares of the financial services provider’s stock after acquiring an additional 1,100 shares during the quarter. New York State Teachers Retirement System owned approximately 0.07% of Global Net Lease worth $1,113,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also made changes to their positions in the company. 6 Meridian grew its position in Global Net Lease by 2.8% in the 2nd quarter. 6 Meridian now owns 24,337 shares of the financial services provider’s stock valued at $477,000 after acquiring an additional 656 shares during the last quarter. Millennium Management LLC bought a new position in Global Net Lease in the 4th quarter valued at $597,000. Louisiana State Employees Retirement System grew its position in Global Net Lease by 9.6% in the 1st quarter. Louisiana State Employees Retirement System now owns 31,300 shares of the financial services provider’s stock valued at $592,000 after acquiring an additional 2,738 shares during the last quarter. Norges Bank bought a new position in Global Net Lease in the 4th quarter valued at $19,165,000. Finally, Arizona State Retirement System grew its position in Global Net Lease by 10.4% in the 1st quarter. Arizona State Retirement System now owns 129,336 shares of the financial services provider’s stock valued at $2,444,000 after acquiring an additional 12,186 shares during the last quarter. 63.30% of the stock is currently owned by institutional investors.
Separately, Zacks Investment Research raised Global Net Lease from a “sell” rating to a “hold” rating in a research report on Tuesday, July 16th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Global Net Lease presently has an average rating of “Hold” and an average price target of $24.00.
Global Net Lease (NYSE:GNL) last issued its earnings results on Thursday, May 9th. The financial services provider reported $0.07 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.50 by ($0.43). Global Net Lease had a return on equity of 1.00% and a net margin of 4.96%. The firm had revenue of $75.47 million during the quarter, compared to analysts’ expectations of $75.92 million. Sell-side analysts predict that Global Net Lease Inc will post 1.92 earnings per share for the current fiscal year.
The company also recently announced a monthly dividend, which was paid on Monday, July 15th. Shareholders of record on Thursday, July 11th were issued a $0.533 dividend. This represents a $6.40 annualized dividend and a dividend yield of 32.97%. This is a boost from Global Net Lease’s previous monthly dividend of $0.06. The ex-dividend date of this dividend was Wednesday, July 10th. Global Net Lease’s dividend payout ratio is currently 298.60%.
About Global Net Lease
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.
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