Rhumbline Advisers Lowers Stock Holdings in Global Net Lease, Inc. (NYSE:GNL)

Rhumbline Advisers reduced its stake in Global Net Lease, Inc. (NYSE:GNL) by 0.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 687,377 shares of the financial services provider’s stock after selling 2,095 shares during the period. Rhumbline Advisers owned 0.30% of Global Net Lease worth $5,052,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Verus Capital Partners LLC bought a new position in Global Net Lease in the second quarter worth approximately $74,000. GraniteShares Advisors LLC lifted its holdings in shares of Global Net Lease by 14.2% in the 2nd quarter. GraniteShares Advisors LLC now owns 192,686 shares of the financial services provider’s stock worth $1,416,000 after buying an additional 24,029 shares during the period. Van ECK Associates Corp grew its position in shares of Global Net Lease by 10.0% during the 2nd quarter. Van ECK Associates Corp now owns 30,720 shares of the financial services provider’s stock worth $226,000 after buying an additional 2,802 shares in the last quarter. Signaturefd LLC increased its stake in shares of Global Net Lease by 176.8% during the second quarter. Signaturefd LLC now owns 12,410 shares of the financial services provider’s stock valued at $91,000 after buying an additional 7,927 shares during the period. Finally, TrueMark Investments LLC bought a new stake in shares of Global Net Lease in the second quarter valued at about $3,367,000. 61.19% of the stock is owned by hedge funds and other institutional investors.

Global Net Lease Stock Performance

Shares of GNL stock opened at $8.94 on Monday. Global Net Lease, Inc. has a 12-month low of $6.52 and a 12-month high of $11.42. The business’s fifty day simple moving average is $8.41 and its 200-day simple moving average is $7.70. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.72. The company has a market cap of $2.06 billion, a PE ratio of -4.91, a PEG ratio of 1.13 and a beta of 1.38.

Global Net Lease (NYSE:GNL) last announced its earnings results on Tuesday, August 6th. The financial services provider reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.52). The business had revenue of $203.29 million for the quarter, compared to analyst estimates of $204.80 million. Global Net Lease had a negative net margin of 33.26% and a negative return on equity of 9.41%. During the same period in the prior year, the company earned $0.40 earnings per share. Analysts expect that Global Net Lease, Inc. will post 1.27 earnings per share for the current fiscal year.

Global Net Lease Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 16th. Investors of record on Thursday, July 11th were paid a $0.275 dividend. The ex-dividend date of this dividend was Thursday, July 11th. This is a boost from Global Net Lease’s previous quarterly dividend of $0.06. This represents a $1.10 dividend on an annualized basis and a yield of 12.30%. Global Net Lease’s dividend payout ratio (DPR) is -60.44%.

Insiders Place Their Bets

In other Global Net Lease news, major shareholder Nicholas S. Schorsch sold 100,000 shares of the firm’s stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $7.02, for a total value of $702,000.00. Following the completion of the transaction, the insider now owns 1,829,073 shares of the company’s stock, valued at $12,840,092.46. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, major shareholder Nicholas S. Schorsch sold 150,000 shares of the stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $7.19, for a total value of $1,078,500.00. Following the transaction, the insider now owns 2,079,073 shares in the company, valued at approximately $14,948,534.87. The sale was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Nicholas S. Schorsch sold 100,000 shares of Global Net Lease stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $7.02, for a total transaction of $702,000.00. Following the sale, the insider now owns 1,829,073 shares of the company’s stock, valued at $12,840,092.46. The disclosure for this sale can be found here. In the last quarter, insiders have sold 683,350 shares of company stock valued at $4,896,287. Insiders own 0.31% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on GNL. StockNews.com upgraded shares of Global Net Lease from a “sell” rating to a “hold” rating in a report on Thursday, August 8th. Truist Financial boosted their price objective on shares of Global Net Lease from $8.00 to $8.50 and gave the stock a “hold” rating in a research note on Wednesday, August 21st. JMP Securities reaffirmed a “market perform” rating on shares of Global Net Lease in a research report on Wednesday, June 12th. B. Riley cut their price target on Global Net Lease from $11.00 to $10.00 and set a “buy” rating on the stock in a report on Monday, August 12th. Finally, BMO Capital Markets restated an “outperform” rating and set a $11.00 price objective on shares of Global Net Lease in a research note on Friday, June 28th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $11.13.

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.