Cetera Investment Advisers Decreases Stock Position in Global Net Lease, Inc. (NYSE:GNL)

Cetera Investment Advisers lessened its position in Global Net Lease, Inc. (NYSE:GNL) by 5.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 157,647 shares of the financial services provider’s stock after selling 8,544 shares during the quarter. Cetera Investment Advisers owned about 0.07% of Global Net Lease worth $1,159,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. increased its stake in Global Net Lease by 25.9% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,236,299 shares of the financial services provider’s stock worth $17,376,000 after acquiring an additional 460,717 shares during the last quarter. Vanguard Group Inc. increased its position in Global Net Lease by 10.3% in the 4th quarter. Vanguard Group Inc. now owns 33,932,387 shares of the financial services provider’s stock valued at $337,627,000 after acquiring an additional 3,162,310 shares during the period. Sound Income Strategies LLC increased its position in Global Net Lease by 17.9% in the 1st quarter. Sound Income Strategies LLC now owns 1,022,526 shares of the financial services provider’s stock valued at $7,945,000 after acquiring an additional 155,377 shares during the period. Edgestream Partners L.P. acquired a new position in Global Net Lease in the 1st quarter valued at about $3,798,000. Finally, Illinois Municipal Retirement Fund increased its position in Global Net Lease by 5.5% during the 1st quarter. Illinois Municipal Retirement Fund now owns 113,714 shares of the financial services provider’s stock worth $884,000 after purchasing an additional 5,970 shares during the period. Hedge funds and other institutional investors own 61.19% of the company’s stock.

Global Net Lease Stock Performance

Shares of GNL stock opened at $8.60 on Thursday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.05 and a current ratio of 0.05. Global Net Lease, Inc. has a one year low of $6.52 and a one year high of $10.19. The company’s 50-day simple moving average is $8.50 and its 200-day simple moving average is $7.87. The stock has a market capitalization of $1.98 billion, a price-to-earnings ratio of -4.73, a PEG ratio of 1.12 and a beta of 1.37.

Global Net Lease (NYSE:GNL) last issued its quarterly earnings results on Tuesday, August 6th. The financial services provider reported ($0.20) EPS for the quarter, missing the consensus estimate 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 company had revenue of $203.29 million for the quarter, compared to the consensus estimate of $204.80 million. During the same period in the previous year, the business posted $0.40 EPS. Equities analysts anticipate 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 declared a quarterly dividend, which was paid on Wednesday, October 16th. Stockholders of record on Friday, October 11th were issued a dividend of $0.275 per share. The ex-dividend date of this dividend was Friday, October 11th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 12.79%. Global Net Lease’s dividend payout ratio (DPR) is presently -60.44%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. BMO Capital Markets restated an “outperform” rating and issued a $11.00 price target on shares of Global Net Lease in a report on Friday, June 28th. StockNews.com raised Global Net Lease from a “sell” rating to a “hold” rating in a research report on Thursday, August 8th. Truist Financial increased their target price on Global Net Lease from $8.00 to $8.50 and gave the stock a “hold” rating in a research report on Wednesday, August 21st. Finally, B. Riley lowered 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. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $9.83.

Insider Activity

In related news, major shareholder Nicholas S. Schorsch acquired 100,000 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The shares were acquired at an average price of $8.40 per share, for a total transaction of $840,000.00. Following the completion of the purchase, the insider now directly owns 1,729,073 shares of the company’s stock, valued at $14,524,213.20. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 0.31% of the company’s stock.

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.