Texas Permanent School Fund Corp Trims Stake in Global Net Lease, Inc. (NYSE:GNL)

Texas Permanent School Fund Corp decreased its position in shares of Global Net Lease, Inc. (NYSE:GNL) by 8.5% during the second quarter, according to its most recent filing with the SEC. The firm owned 155,821 shares of the financial services provider’s stock after selling 14,507 shares during the period. Texas Permanent School Fund Corp owned about 0.07% of Global Net Lease worth $1,145,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in GNL. Victory Capital Management Inc. grew its position in Global Net Lease by 23.5% during the 4th quarter. Victory Capital Management Inc. now owns 38,960 shares of the financial services provider’s stock valued at $388,000 after purchasing an additional 7,406 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Global Net Lease by 3.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,724,873 shares of the financial services provider’s stock worth $27,113,000 after buying an additional 92,391 shares in the last quarter. Vanguard Personalized Indexing Management LLC purchased a new stake in shares of Global Net Lease during the fourth quarter valued at approximately $199,000. Janney Montgomery Scott LLC bought a new stake in shares of Global Net Lease during the fourth quarter valued at approximately $953,000. Finally, Norges Bank bought a new stake in shares of Global Net Lease during the fourth quarter valued at approximately $9,378,000. Hedge funds and other institutional investors own 61.19% of the company’s stock.

Analyst Upgrades and Downgrades

GNL has been the topic of several recent analyst reports. B. Riley cut their target price on 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. StockNews.com raised 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 report on Wednesday, June 12th. BMO Capital Markets reaffirmed an “outperform” rating and set a $11.00 price target on shares of Global Net Lease in a report on Friday, June 28th. Finally, Truist Financial upped their price target on Global Net Lease from $8.00 to $8.50 and gave the company a “hold” rating in a report on Wednesday, August 21st. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $9.83.

Insider Activity at Global Net Lease

In other Global Net Lease news, major shareholder Nicholas S. Schorsch sold 150,000 shares of the company’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $7.19, for a total value of $1,078,500.00. Following the completion of the sale, the insider now owns 2,079,073 shares in the company, valued at $14,948,534.87. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Global Net Lease news, major shareholder Nicholas S. Schorsch sold 150,000 shares of the company’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $7.19, for a total value of $1,078,500.00. Following the completion of the sale, the insider now owns 2,079,073 shares in the company, valued at $14,948,534.87. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder Nicholas S. Schorsch sold 100,000 shares of the company’s stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $7.02, for a total value of $702,000.00. Following the completion of the sale, the insider now owns 1,829,073 shares of the company’s stock, valued at approximately $12,840,092.46. The disclosure for this sale can be found here. 0.31% of the stock is owned by company insiders.

Global Net Lease Stock Down 1.3 %

Global Net Lease stock opened at $8.68 on Friday. The stock has a market cap of $2.00 billion, a PE ratio of -4.77, a price-to-earnings-growth ratio of 1.13 and a beta of 1.38. 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 $10.69. The stock has a fifty day moving average of $8.53 and a 200 day moving average of $7.75.

Global Net Lease (NYSE:GNL) last posted 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). The firm had revenue of $203.29 million for the quarter, compared to analysts’ expectations of $204.80 million. Global Net Lease had a negative net margin of 33.26% and a negative return on equity of 9.41%. During the same quarter last year, the company posted $0.40 EPS. As a group, sell-side analysts predict that Global Net Lease, Inc. will post 1.27 EPS for the current year.

Global Net Lease Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 16th. Investors of record on Thursday, July 11th were given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 12.67%. The ex-dividend date was Thursday, July 11th. This is a boost from Global Net Lease’s previous quarterly dividend of $0.06. 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.