Louisiana State Employees Retirement System Sells 2,600 Shares of Global Net Lease, Inc. (NYSE:GNL)

Louisiana State Employees Retirement System reduced its stake in Global Net Lease, Inc. (NYSE:GNL) by 2.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 95,700 shares of the financial services provider’s stock after selling 2,600 shares during the period. Louisiana State Employees Retirement System’s holdings in Global Net Lease were worth $806,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of GNL. Edgestream Partners L.P. purchased a new position in Global Net Lease during the 1st quarter valued at about $3,798,000. Illinois Municipal Retirement Fund lifted its holdings in shares of Global Net Lease by 5.5% during the first quarter. Illinois Municipal Retirement Fund now owns 113,714 shares of the financial services provider’s stock valued at $884,000 after purchasing an additional 5,970 shares during the last quarter. Advisors Asset Management Inc. grew its stake in shares of Global Net Lease by 73.5% in the 1st quarter. Advisors Asset Management Inc. now owns 698,844 shares of the financial services provider’s stock worth $5,430,000 after buying an additional 296,124 shares during the last quarter. Bank of Montreal Can increased its position in Global Net Lease by 12,401.0% during the 2nd quarter. Bank of Montreal Can now owns 3,118,873 shares of the financial services provider’s stock valued at $22,986,000 after buying an additional 3,093,924 shares in the last quarter. Finally, Atomi Financial Group Inc. bought a new position in Global Net Lease during the 1st quarter valued at approximately $81,000. 61.19% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Global Net Lease

In other Global Net Lease news, major shareholder Nicholas S. Schorsch acquired 100,000 shares of the stock in a transaction dated Wednesday, October 2nd. The shares were purchased at an average price of $8.40 per share, for a total transaction of $840,000.00. Following the purchase, the insider now directly owns 1,729,073 shares of the company’s stock, valued at approximately $14,524,213.20. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.31% of the company’s stock.

Analyst Upgrades and Downgrades

GNL has been the topic of a number of recent research reports. StockNews.com raised Global Net Lease from a “sell” rating to a “hold” rating in a research note on Thursday, August 8th. Truist Financial increased their price objective on shares of 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, B. Riley dropped their target price on shares of Global Net Lease from $11.00 to $10.00 and set a “buy” rating on the stock in a research note on Monday, August 12th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $9.83.

Global Net Lease Stock Performance

Shares of NYSE GNL opened at $7.66 on Tuesday. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.72. The firm’s 50-day moving average price is $8.47 and its 200-day moving average price is $7.96. Global Net Lease, Inc. has a 52-week low of $6.52 and a 52-week high of $10.19. The company has a market cap of $1.77 billion, a PE ratio of -4.48, a PEG ratio of 1.02 and a beta of 1.38.

Global Net Lease (NYSE:GNL) last released its quarterly earnings results 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). Global Net Lease had a negative net margin of 33.26% and a negative return on equity of 9.41%. The firm 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 company earned $0.40 earnings per share. As a group, analysts anticipate that Global Net Lease, Inc. will post 1.27 EPS for the current year.

Global Net Lease Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 16th. Shareholders of record on Friday, October 11th were given a $0.275 dividend. The ex-dividend date of this dividend was Friday, October 11th. This represents a $1.10 annualized dividend and a yield of 14.36%. Global Net Lease’s payout ratio is -63.95%.

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.