Kovack Advisors Inc. Raises Stock Holdings in Global Net Lease, Inc. (NYSE:GNL)

Kovack Advisors Inc. boosted its holdings in Global Net Lease, Inc. (NYSE:GNL) by 58.8% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 59,200 shares of the financial services provider’s stock after acquiring an additional 21,932 shares during the period. Kovack Advisors Inc.’s holdings in Global Net Lease were worth $589,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Beaird Harris Wealth Management LLC purchased a new position in Global Net Lease in the 3rd quarter worth about $26,000. Gradient Investments LLC increased its position in shares of Global Net Lease by 98.9% during the 3rd quarter. Gradient Investments LLC now owns 2,942 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 1,463 shares during the last quarter. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Global Net Lease during the 4th quarter valued at about $31,000. Spire Wealth Management increased its position in shares of Global Net Lease by 221.9% during the 3rd quarter. Spire Wealth Management now owns 3,299 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 2,274 shares during the last quarter. Finally, Wolff Wiese Magana LLC purchased a new stake in shares of Global Net Lease during the 3rd quarter valued at about $34,000. Hedge funds and other institutional investors own 61.19% of the company’s stock.

Analyst Upgrades and Downgrades

GNL has been the subject of several research reports. JMP Securities reaffirmed a “market perform” rating on shares of Global Net Lease in a research report on Thursday, April 18th. BMO Capital Markets initiated coverage on shares of Global Net Lease in a research report on Tuesday, February 13th. They set an “outperform” rating and a $11.00 price target for the company. BTIG Research lowered shares of Global Net Lease from a “buy” rating to a “neutral” rating in a research report on Friday, March 8th. Finally, Truist Financial initiated coverage on shares of Global Net Lease in a research report on Thursday, March 28th. They set a “hold” rating and a $7.00 price target for the company. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $12.00.

Global Net Lease Stock Down 0.1 %

Shares of NYSE:GNL opened at $6.91 on Friday. The stock has a 50 day moving average of $7.31 and a 200 day moving average of $8.28. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.66. 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, April 16th. Investors of record on Thursday, April 11th were paid a dividend of $0.275 per share. The ex-dividend date of this dividend was Wednesday, April 10th. This is an increase from Global Net Lease’s previous quarterly dividend of $0.06. This represents a $1.10 dividend on an annualized basis and a dividend yield of 15.92%. Global Net Lease’s payout ratio is -63.58%.

Global Net Lease 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.