Algert Global LLC Increases Holdings in Global Net Lease, Inc. (NYSE:GNL)

Algert Global LLC grew its holdings in Global Net Lease, Inc. (NYSE:GNL) by 255.4% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 277,584 shares of the financial services provider’s stock after acquiring an additional 199,480 shares during the quarter. Algert Global LLC owned about 0.12% of Global Net Lease worth $2,337,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Bank of Montreal Can increased its stake in Global Net Lease by 12,401.0% in the second quarter. Bank of Montreal Can now owns 3,118,873 shares of the financial services provider’s stock valued at $22,986,000 after purchasing an additional 3,093,924 shares during the last quarter. TrueMark Investments LLC acquired a new stake in Global Net Lease during the 2nd quarter worth $3,367,000. Waterfall Asset Management LLC purchased a new stake in Global Net Lease in the second quarter valued at $2,122,000. Edgestream Partners L.P. grew its holdings in shares of Global Net Lease by 58.1% during the second quarter. Edgestream Partners L.P. now owns 772,479 shares of the financial services provider’s stock worth $5,678,000 after purchasing an additional 283,739 shares during the last quarter. Finally, Citigroup Inc. grew its holdings in shares of Global Net Lease by 52.8% during the third quarter. Citigroup Inc. now owns 771,371 shares of the financial services provider’s stock worth $6,495,000 after purchasing an additional 266,647 shares during the last quarter. Institutional investors and hedge funds own 61.19% of the company’s stock.

Insider Transactions at Global Net Lease

In other Global Net Lease news, major shareholder Nicholas S. Schorsch purchased 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were purchased at an average cost of $8.40 per share, for a total transaction of $840,000.00. Following the completion of the purchase, the insider now directly owns 1,729,073 shares in the company, valued at $14,524,213.20. This represents a 6.14 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.31% of the company’s stock.

Global Net Lease Stock Up 0.1 %

Global Net Lease stock opened at $7.57 on Wednesday. The stock has a 50 day moving average of $8.10 and a two-hundred day moving average of $8.01. Global Net Lease, Inc. has a twelve month low of $6.52 and a twelve month high of $10.19. The stock has a market capitalization of $1.75 billion, a price-to-earnings ratio of -8.05, a PEG ratio of 0.97 and a beta of 1.38. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 0.70.

Global Net Lease (NYSE:GNL) last issued 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 company had revenue of $196.56 million for the quarter, compared to analyst estimates 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 period in the prior year, the business earned $0.36 earnings per share. As a group, research analysts expect that Global Net Lease, Inc. will post 1.27 earnings per share for the current year.

Global Net Lease Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 16th. Stockholders of record on Friday, October 11th were paid a dividend of $0.275 per share. The ex-dividend date of this dividend was Friday, October 11th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 14.53%. Global Net Lease’s dividend payout ratio (DPR) is -117.02%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on GNL shares. B. Riley decreased their target price on Global Net Lease from $11.00 to $10.00 and set a “buy” rating for the company in a research report on Monday, August 12th. StockNews.com upgraded shares of Global Net Lease from a “sell” rating to a “hold” rating in a research report on Thursday, August 8th. Finally, Truist Financial upped their price target on shares of Global Net Lease from $8.00 to $8.50 and gave the company a “hold” rating in a research 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, Global Net Lease has a consensus rating of “Hold” and an average price target 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.