Daiwa Securities Group Inc. Sells 2,426 Shares of Global Net Lease, Inc. (NYSE:GNL)

Daiwa Securities Group Inc. trimmed its position in shares of Global Net Lease, Inc. (NYSE:GNL) by 3.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 60,964 shares of the financial services provider’s stock after selling 2,426 shares during the period. Daiwa Securities Group Inc.’s holdings in Global Net Lease were worth $448,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of GNL. Scarborough Advisors LLC bought a new stake in Global Net Lease during the fourth quarter valued at about $25,000. Verus Capital Partners LLC bought a new stake in shares of Global Net Lease in the 2nd quarter worth approximately $74,000. Atomi Financial Group Inc. bought a new stake in shares of Global Net Lease in the 1st quarter worth approximately $81,000. Principal Securities Inc. bought a new stake in shares of Global Net Lease in the 4th quarter worth approximately $86,000. Finally, Signaturefd LLC lifted its position in shares of Global Net Lease by 176.8% in the 2nd quarter. Signaturefd LLC now owns 12,410 shares of the financial services provider’s stock worth $91,000 after acquiring an additional 7,927 shares during the period. 61.19% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on GNL. Truist Financial raised 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. JMP Securities reaffirmed a “market perform” rating on shares of Global Net Lease in a research note on Wednesday, June 12th. StockNews.com raised Global Net Lease from a “sell” rating to a “hold” rating in a research note on Thursday, August 8th. 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 research note on Monday, August 12th. Finally, BMO Capital Markets reissued an “outperform” rating and set a $11.00 target price on shares of Global Net Lease in a research note on Friday, June 28th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $11.13.

Insider Buying and Selling

In other Global Net Lease news, major shareholder Nicholas S. Schorsch sold 433,350 shares of Global Net Lease stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $7.19, for a total value of $3,115,786.50. Following the completion of the sale, the insider now owns 2,679,073 shares in the company, valued at approximately $19,262,534.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, major shareholder Nicholas S. Schorsch sold 433,350 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $7.19, for a total value of $3,115,786.50. Following the completion of the transaction, the insider now directly owns 2,679,073 shares in the company, valued at approximately $19,262,534.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Nicholas S. Schorsch sold 150,000 shares of the company’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $7.19, for a total transaction of $1,078,500.00. Following the transaction, the insider now owns 2,079,073 shares of the company’s stock, valued at $14,948,534.87. The disclosure for this sale can be found here. In the last 90 days, insiders sold 683,350 shares of company stock valued at $4,896,287. Company insiders own 0.31% of the company’s stock.

Global Net Lease Stock Performance

Shares of GNL stock opened at $8.93 on Tuesday. The company has a fifty day moving average price of $8.41 and a two-hundred day moving average price of $7.70. Global Net Lease, Inc. has a one year low of $6.52 and a one year high of $11.14. The stock has a market cap of $2.06 billion, a P/E ratio of -4.91, a P/E/G ratio of 1.13 and a beta of 1.38. 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 (NYSE:GNL) last announced its quarterly earnings data on Tuesday, August 6th. The financial services provider reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $204.80 million. During the same period last year, the business earned $0.40 EPS. As a group, equities analysts predict that Global Net Lease, Inc. will post 1.27 EPS for the current year.

Global Net Lease Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 16th. Investors of record on Thursday, July 11th were issued a dividend of $0.275 per share. This is an increase from Global Net Lease’s previous quarterly dividend of $0.06. The ex-dividend date was Thursday, July 11th. This represents a $1.10 annualized dividend and a dividend yield of 12.32%. Global Net Lease’s payout ratio is presently -60.44%.

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.