Newbridge Financial Services Group Inc. Decreases Stake in Global Net Lease, Inc. (NYSE:GNL)

Newbridge Financial Services Group Inc. cut its holdings in shares of Global Net Lease, Inc. (NYSE:GNL) by 17.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 185,926 shares of the financial services provider’s stock after selling 39,131 shares during the quarter. Newbridge Financial Services Group Inc. owned about 0.08% of Global Net Lease worth $1,367,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. B. Riley Wealth Advisors Inc. grew its holdings in Global Net Lease by 12.7% in the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 150,941 shares of the financial services provider’s stock valued at $1,109,000 after buying an additional 16,984 shares in the last quarter. Sunbelt Securities Inc. grew its holdings in shares of Global Net Lease by 10.3% in the second quarter. Sunbelt Securities Inc. now owns 14,449 shares of the financial services provider’s stock valued at $106,000 after purchasing an additional 1,351 shares during the period. Creative Planning increased its position in Global Net Lease by 52.0% during the second quarter. Creative Planning now owns 72,083 shares of the financial services provider’s stock worth $530,000 after purchasing an additional 24,673 shares during the last quarter. Waterfall Asset Management LLC purchased a new position in Global Net Lease during the second quarter worth about $2,122,000. Finally, Algert Global LLC purchased a new stake in shares of Global Net Lease in the 2nd quarter valued at approximately $574,000. Hedge funds and other institutional investors own 61.19% of the company’s stock.

Global Net Lease Price Performance

GNL stock opened at $8.39 on Wednesday. The business’s fifty day moving average price is $8.55 and its 200 day moving average price is $7.80. Global Net Lease, Inc. has a 12-month low of $6.52 and a 12-month high of $10.19. The company has a market capitalization of $1.93 billion, a PE ratio of -4.61, a P/E/G ratio of 1.15 and a beta of 1.38. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.72.

Global Net Lease (NYSE:GNL) last issued its quarterly earnings results on Tuesday, August 6th. The financial services provider reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.52). Global Net Lease had a negative return on equity of 9.41% and a negative net margin of 33.26%. The business had revenue of $203.29 million for the quarter, compared to analysts’ expectations of $204.80 million. During the same quarter last year, the company earned $0.40 earnings per share. On average, sell-side analysts anticipate that Global Net Lease, Inc. will post 1.27 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. BMO Capital Markets reaffirmed an “outperform” rating and set a $11.00 price target on shares of Global Net Lease in a research report on Friday, June 28th. JMP Securities reaffirmed a “market perform” rating on shares of Global Net Lease in a research note on Wednesday, June 12th. Truist Financial increased their price target on Global Net Lease from $8.00 to $8.50 and gave the stock a “hold” rating in a report on Wednesday, August 21st. StockNews.com upgraded shares of Global Net Lease from a “sell” rating to a “hold” rating in a report on Thursday, August 8th. Finally, B. Riley dropped their price target on shares of Global Net Lease from $11.00 to $10.00 and set a “buy” rating for the company in a research report on Monday, August 12th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Global Net Lease presently has an average rating of “Hold” and an average target price of $9.83.

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.