Thrivent Financial for Lutherans Trims Holdings in Global Net Lease, Inc. (NYSE:GNL)

Thrivent Financial for Lutherans trimmed its position in Global Net Lease, Inc. (NYSE:GNL) by 4.3% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 162,202 shares of the financial services provider’s stock after selling 7,228 shares during the period. Thrivent Financial for Lutherans owned about 0.07% of Global Net Lease worth $1,192,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GNL. Scarborough Advisors LLC purchased a new position in Global Net Lease in the 4th quarter valued at about $25,000. Verus Capital Partners LLC acquired a new position in shares of Global Net Lease during the 2nd quarter valued at about $74,000. Atomi Financial Group Inc. acquired a new position in shares of Global Net Lease during the 1st quarter valued at about $81,000. Signaturefd LLC increased its stake in shares of Global Net Lease by 176.8% during the 2nd quarter. Signaturefd LLC now owns 12,410 shares of the financial services provider’s stock valued at $91,000 after acquiring an additional 7,927 shares during the last quarter. Finally, Capital Market Strategies LLC increased its stake in shares of Global Net Lease by 14.6% during the 2nd quarter. Capital Market Strategies LLC now owns 15,694 shares of the financial services provider’s stock valued at $115,000 after acquiring an additional 2,000 shares during the last quarter. 61.19% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. B. Riley dropped their price objective on shares of 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. JMP Securities reaffirmed a “market perform” rating on shares of Global Net Lease in a research note on Wednesday, June 12th. Truist Financial upped 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 note on Wednesday, August 21st. StockNews.com raised shares of Global Net Lease from a “sell” rating to a “hold” rating in a research report on Thursday, August 8th. Finally, BMO Capital Markets reissued an “outperform” rating and set a $11.00 target price on shares of Global Net Lease in a research report on Friday, June 28th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $9.83.

Global Net Lease Stock Down 1.2 %

GNL opened at $8.37 on Friday. The firm has a 50 day moving average price of $8.52 and a 200 day moving average price of $7.83. The company has a market cap of $1.93 billion, a PE ratio of -4.60, a price-to-earnings-growth ratio of 1.15 and a beta of 1.37. Global Net Lease, Inc. has a 1 year low of $6.52 and a 1 year high of $10.19. 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 (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 analysts’ consensus estimates of $0.32 by ($0.52). The company had revenue of $203.29 million during the quarter, compared to analysts’ expectations of $204.80 million. Global Net Lease had a negative return on equity of 9.41% and a negative net margin of 33.26%. During the same quarter in the prior year, the company earned $0.40 EPS. Sell-side analysts expect that Global Net Lease, Inc. will post 1.27 earnings per share for the current year.

Global Net Lease Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 16th. Shareholders of record on Friday, October 11th will be issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 13.14%. The ex-dividend date of this dividend is Friday, October 11th. Global Net Lease’s dividend payout ratio is presently -60.44%.

Insiders Place Their Bets

In related news, major shareholder Nicholas S. Schorsch purchased 100,000 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The stock was purchased at an average price of $8.40 per share, for a total transaction of $840,000.00. Following the acquisition, the insider now directly owns 1,729,073 shares in the company, valued at $14,524,213.20. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.31% of the stock is owned by company insiders.

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.