Advisors Asset Management Inc. Raises Position in Global Net Lease, Inc. (NYSE:GNL)

Advisors Asset Management Inc. increased its stake in Global Net Lease, Inc. (NYSE:GNL) by 12.2% in the third quarter, Holdings Channel.com reports. The institutional investor owned 1,109,842 shares of the financial services provider’s stock after purchasing an additional 120,610 shares during the quarter. Advisors Asset Management Inc.’s holdings in Global Net Lease were worth $9,345,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. American Capital Advisory LLC acquired a new stake in Global Net Lease in the third quarter valued at approximately $34,000. Park Place Capital Corp purchased a new stake in Global Net Lease during the 3rd quarter worth $35,000. GAMMA Investing LLC lifted its holdings in Global Net Lease by 60.1% in the 3rd quarter. GAMMA Investing LLC now owns 5,054 shares of the financial services provider’s stock worth $43,000 after buying an additional 1,897 shares in the last quarter. KBC Group NV boosted its position in Global Net Lease by 37.4% in the 3rd quarter. KBC Group NV now owns 9,311 shares of the financial services provider’s stock valued at $78,000 after buying an additional 2,535 shares during the last quarter. Finally, Verus Capital Partners LLC acquired a new stake in shares of Global Net Lease during the second quarter valued at about $74,000. 61.19% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Global Net Lease Stock Down 0.2 %

Shares of Global Net Lease stock opened at $7.30 on Thursday. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 0.70. The business has a 50-day moving average price of $8.19 and a 200 day moving average price of $8.01. Global Net Lease, Inc. has a fifty-two week low of $6.52 and a fifty-two week high of $10.19. The firm has a market cap of $1.68 billion, a P/E ratio of -7.76, a P/E/G ratio of 0.96 and a beta of 1.38.

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

Global Net Lease Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 16th. Investors of record on Friday, October 11th were paid a dividend of $0.275 per share. The ex-dividend date was Friday, October 11th. This represents a $1.10 annualized dividend and a yield of 15.08%. Global Net Lease’s dividend payout ratio (DPR) is -117.02%.

Insiders Place Their Bets

In related news, major shareholder Nicholas S. Schorsch bought 100,000 shares of the company’s stock in a transaction on Monday, November 11th. The shares were purchased at an average cost of $7.72 per share, with a total value of $772,000.00. Following the completion of the transaction, the insider now directly owns 1,829,073 shares of the company’s stock, valued at approximately $14,120,443.56. This represents a 5.78 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.31% of the stock is currently owned by corporate insiders.

Global Net Lease Company Profile

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.