Mutual of America Capital Management LLC Trims Stake in Global Net Lease, Inc. (NYSE:GNL)

Mutual of America Capital Management LLC cut its holdings in shares of Global Net Lease, Inc. (NYSE:GNL) by 7.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 29,764 shares of the financial services provider’s stock after selling 2,351 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Global Net Lease were worth $251,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Bank of Montreal Can boosted its stake in Global Net Lease by 12,401.0% during the second quarter. Bank of Montreal Can now owns 3,118,873 shares of the financial services provider’s stock worth $22,986,000 after buying an additional 3,093,924 shares during the period. TrueMark Investments LLC purchased a new position in shares of Global Net Lease during the 2nd quarter worth approximately $3,367,000. Waterfall Asset Management LLC acquired a new stake in Global Net Lease in the 2nd quarter valued at approximately $2,122,000. Edgestream Partners L.P. raised its position in Global Net Lease by 58.1% in the second quarter. Edgestream Partners L.P. now owns 772,479 shares of the financial services provider’s stock valued at $5,678,000 after purchasing an additional 283,739 shares during the period. Finally, Paralel Advisors LLC purchased a new stake in Global Net Lease in the second quarter valued at approximately $1,102,000. 61.19% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Global Net Lease

In other Global Net Lease news, major shareholder Nicholas S. Schorsch purchased 100,000 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was purchased at an average cost of $7.72 per share, with a total value of $772,000.00. Following the completion of the acquisition, the insider now directly owns 1,829,073 shares of the company’s stock, valued at $14,120,443.56. This trade represents a 5.78 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.31% of the stock is owned by insiders.

Global Net Lease Price Performance

GNL stock opened at $7.52 on Friday. The business’s 50-day moving average is $8.05 and its two-hundred day moving average is $8.01. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.06 and a quick ratio of 0.06. The firm has a market capitalization of $1.73 billion, a P/E ratio of -8.00, a P/E/G ratio of 0.99 and a beta of 1.38. Global Net Lease, Inc. has a 1 year low of $6.52 and a 1 year high of $10.19.

Global Net Lease (NYSE:GNL) last issued its earnings results on Wednesday, November 6th. The financial services provider reported ($0.33) earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.65). Global Net Lease had a negative net margin of 21.37% and a negative return on equity of 7.04%. The firm had revenue of $196.56 million during the quarter, compared to analyst estimates of $198.76 million. During the same period last year, the business earned $0.36 EPS. 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 announced a quarterly dividend, which was paid on Wednesday, October 16th. Investors of record on Friday, October 11th were issued a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 14.63%. The ex-dividend date of this dividend was Friday, October 11th. Global Net Lease’s dividend payout ratio (DPR) is presently -117.02%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on GNL. Truist Financial lifted their price objective on Global Net Lease from $8.00 to $8.50 and gave the company a “hold” rating in a research note on Wednesday, August 21st. StockNews.com upgraded shares of Global Net Lease from a “sell” rating to a “hold” rating in a research note on Thursday, August 8th. Finally, B. Riley reduced their price target on shares of Global Net Lease from $11.00 to $10.00 and set a “buy” rating on the stock in a research report on Monday, August 12th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Global Net Lease currently has an average rating of “Hold” and an average target price of $9.83.

Global Net Lease 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.