ProShare Advisors LLC Sells 9,276 Shares of Global Net Lease, Inc. (NYSE:GNL)

ProShare Advisors LLC cut its stake in shares of Global Net Lease, Inc. (NYSE:GNL) by 23.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 29,989 shares of the financial services provider’s stock after selling 9,276 shares during the quarter. ProShare Advisors LLC’s holdings in Global Net Lease were worth $220,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Scarborough Advisors LLC acquired a new stake in Global Net Lease in the fourth quarter valued at approximately $25,000. Verus Capital Partners LLC acquired a new position in shares of Global Net Lease during the second quarter worth $74,000. Atomi Financial Group Inc. bought a new position in shares of Global Net Lease in the 1st quarter valued at $81,000. Signaturefd LLC boosted its holdings in shares of Global Net Lease by 176.8% during the 2nd quarter. Signaturefd LLC now owns 12,410 shares of the financial services provider’s stock valued at $91,000 after acquiring an additional 7,927 shares in the last quarter. Finally, Capital Market Strategies LLC grew its position in Global Net Lease by 14.6% during the 2nd quarter. Capital Market Strategies LLC now owns 15,694 shares of the financial services provider’s stock worth $115,000 after acquiring an additional 2,000 shares during the last quarter. 61.19% of the stock is owned by institutional investors.

Insider Activity at Global Net Lease

In other Global Net Lease news, major shareholder Nicholas S. Schorsch bought 100,000 shares of the stock in a transaction on Wednesday, October 2nd. The stock was acquired at an average cost of $8.40 per share, for a total transaction of $840,000.00. Following the completion of the acquisition, the insider now owns 1,729,073 shares in the company, valued at $14,524,213.20. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 0.31% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

GNL has been the subject of several research reports. BMO Capital Markets reiterated an “outperform” rating and issued a $11.00 target price on shares of Global Net Lease in a research report on Friday, June 28th. B. Riley dropped their price objective on shares of Global Net Lease from $11.00 to $10.00 and set a “buy” rating for the company in a report on Monday, August 12th. StockNews.com raised shares of Global Net Lease from a “sell” rating to a “hold” rating in a report on Thursday, August 8th. JMP Securities reaffirmed a “market perform” rating on shares of Global Net Lease in a research note on Wednesday, June 12th. Finally, 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. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $9.83.

Global Net Lease Stock Performance

Shares of GNL stock opened at $8.37 on Friday. The stock has a market capitalization of $1.93 billion, a PE ratio of -4.60, a PEG ratio of 1.15 and a beta of 1.37. The business’s 50 day simple moving average is $8.52 and its 200 day simple moving average is $7.83. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.05 and a quick ratio of 0.05. Global Net Lease, Inc. has a one year low of $6.52 and a one year high of $10.19.

Global Net Lease (NYSE:GNL) last posted its quarterly earnings data on Tuesday, August 6th. The financial services provider reported ($0.20) earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.52). The firm had revenue of $203.29 million for the quarter, compared to analyst estimates of $204.80 million. Global Net Lease had a negative return on equity of 9.41% and a negative net margin of 33.26%. During the same quarter last year, the company earned $0.40 earnings per share. As a group, research analysts forecast that Global Net Lease, Inc. will post 1.27 earnings per share for the current year.

Global Net Lease Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 16th. Stockholders of record on Friday, October 11th will be paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 13.14%. The ex-dividend date is Friday, October 11th. Global Net Lease’s dividend payout ratio is -60.44%.

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.