Geode Capital Management LLC Has $42.90 Million Position in Global Net Lease, Inc. (NYSE:GNL)

Geode Capital Management LLC increased its stake in shares of Global Net Lease, Inc. (NYSE:GNL) by 1.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,093,659 shares of the financial services provider’s stock after acquiring an additional 95,769 shares during the quarter. Geode Capital Management LLC owned approximately 2.21% of Global Net Lease worth $42,897,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. American Capital Advisory LLC bought a new position in shares of Global Net Lease during the 3rd quarter worth about $34,000. Park Place Capital Corp bought a new position in Global Net Lease in the third quarter worth approximately $35,000. GAMMA Investing LLC grew its stake in Global Net Lease by 60.1% in the third quarter. GAMMA Investing LLC now owns 5,054 shares of the financial services provider’s stock valued at $43,000 after acquiring an additional 1,897 shares during the period. Verus Capital Partners LLC bought a new stake in shares of Global Net Lease during the second quarter valued at approximately $74,000. Finally, KBC Group NV increased its holdings in shares of Global Net Lease by 37.4% during the third quarter. KBC Group NV now owns 9,311 shares of the financial services provider’s stock valued at $78,000 after acquiring an additional 2,535 shares in the last quarter. 61.19% of the stock is currently owned by institutional investors and hedge funds.

Global Net Lease Price Performance

Shares of NYSE:GNL opened at $7.18 on Tuesday. Global Net Lease, Inc. has a 1-year low of $6.52 and a 1-year high of $10.19. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 0.70. The stock has a market cap of $1.66 billion, a PE ratio of -7.64, a price-to-earnings-growth ratio of 0.93 and a beta of 1.34. The stock’s fifty day simple moving average is $7.58 and its two-hundred day simple moving average is $7.97.

Global Net Lease (NYSE:GNL) last released its quarterly 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). The firm had revenue of $196.56 million for the quarter, compared to analysts’ expectations of $198.76 million. Global Net Lease had a negative return on equity of 7.04% and a negative net margin of 21.37%. During the same quarter last year, the firm posted $0.36 earnings per share. As a group, analysts forecast that Global Net Lease, Inc. will post 1.27 EPS for the current fiscal year.

Global Net Lease Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 16th. Investors of record on Friday, October 11th were given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 15.32%. The ex-dividend date of this dividend was Friday, October 11th. Global Net Lease’s payout ratio is -117.02%.

Insider Buying and Selling

In related news, major shareholder Nicholas S. Schorsch acquired 100,000 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was acquired at an average price of $7.72 per share, for a total transaction of $772,000.00. Following the completion of the acquisition, the insider now owns 1,829,073 shares of the company’s stock, valued at approximately $14,120,443.56. This represents a 5.78 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.31% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

GNL has been the topic of a number of recent research reports. JMP Securities raised shares of Global Net Lease from a “market perform” rating to an “outperform” rating and set a $9.00 price target for the company in a research report on Tuesday, December 17th. Truist Financial reduced their price objective on shares of Global Net Lease from $8.50 to $8.00 and set a “hold” rating for the company in a report on Friday, November 29th. Finally, Citizens Jmp raised shares of Global Net Lease from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 17th. Three equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Global Net Lease presently has a consensus rating of “Moderate Buy” and an average target price of $9.50.

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.