MQS Management LLC Purchases Shares of 37,441 Global Net Lease, Inc. (NYSE:GNL)

MQS Management LLC acquired a new position in shares of Global Net Lease, Inc. (NYSE:GNL) during the 3rd quarter, HoldingsChannel.com reports. The fund acquired 37,441 shares of the financial services provider’s stock, valued at approximately $315,000.

Several other hedge funds have also modified their holdings of the stock. Versor Investments LP acquired a new position in Global Net Lease during the third quarter worth approximately $220,000. American Capital Advisory LLC acquired a new stake in shares of Global Net Lease during the 3rd quarter worth $34,000. Global Wealth Management Investment Advisory Inc. raised its position in shares of Global Net Lease by 53.2% in the 3rd quarter. Global Wealth Management Investment Advisory Inc. now owns 16,733 shares of the financial services provider’s stock worth $141,000 after buying an additional 5,808 shares during the period. Clarity Financial LLC acquired a new position in Global Net Lease in the third quarter valued at $116,000. Finally, QRG Capital Management Inc. grew its position in Global Net Lease by 23.8% during the third quarter. QRG Capital Management Inc. now owns 15,471 shares of the financial services provider’s stock valued at $130,000 after acquiring an additional 2,978 shares during the period. 61.19% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

GNL has been the topic of a number of research reports. StockNews.com upgraded Global Net Lease from a “sell” rating to a “hold” rating in a report on Thursday, August 8th. B. Riley reduced their price target on shares of Global Net Lease from $11.00 to $10.00 and set a “buy” rating on the stock in a research report on Monday, August 12th. Finally, Truist Financial raised their target price on shares of Global Net Lease from $8.00 to $8.50 and gave the company a “hold” rating in a research note on Wednesday, August 21st. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $9.83.

Insider Activity at Global Net Lease

In related news, major shareholder Nicholas S. Schorsch purchased 100,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were purchased at an average cost of $8.40 per share, with a total value of $840,000.00. Following the completion of the acquisition, the insider now directly owns 1,729,073 shares of the company’s stock, valued at approximately $14,524,213.20. The trade was a 6.14 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.31% of the stock is currently owned by company insiders.

Global Net Lease Stock Performance

Global Net Lease stock opened at $7.28 on Friday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.06 and a current ratio of 0.06. Global Net Lease, Inc. has a one year low of $6.52 and a one year high of $10.19. The stock’s 50 day moving average price is $8.30 and its 200 day moving average price is $7.99. The firm has a market capitalization of $1.68 billion, a PE ratio of -7.74, a price-to-earnings-growth ratio of 0.98 and a beta of 1.38.

Global Net Lease (NYSE:GNL) last announced its earnings results on Wednesday, November 6th. The financial services provider reported ($0.33) earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.65). Global Net Lease had a negative net margin of 21.37% and a negative return on equity of 7.04%. The firm had revenue of $196.56 million during the quarter, compared to analysts’ expectations of $198.76 million. During the same quarter last year, the company posted $0.36 earnings per share. As a group, sell-side analysts expect that Global Net Lease, Inc. will post 1.27 EPS for the current fiscal year.

Global Net Lease Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 16th. Investors of record on Friday, October 11th were paid a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 15.12%. The ex-dividend date of this dividend was Friday, October 11th. Global Net Lease’s dividend payout ratio (DPR) is -117.02%.

About Global Net Lease

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