PFG Investments LLC Grows Stake in Global Net Lease, Inc. (NYSE:GNL)

PFG Investments LLC increased its holdings in Global Net Lease, Inc. (NYSE:GNL) by 43.8% during the third quarter, HoldingsChannel reports. The institutional investor owned 31,204 shares of the financial services provider’s stock after acquiring an additional 9,500 shares during the quarter. PFG Investments LLC’s holdings in Global Net Lease were worth $263,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in GNL. Mirae Asset Global Investments Co. Ltd. grew its stake in Global Net Lease by 25.9% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,236,299 shares of the financial services provider’s stock worth $17,376,000 after buying an additional 460,717 shares in the last quarter. Edgestream Partners L.P. bought a new position in Global Net Lease in the first quarter valued at $3,798,000. Illinois Municipal Retirement Fund raised its position in Global Net Lease by 5.5% during the first quarter. Illinois Municipal Retirement Fund now owns 113,714 shares of the financial services provider’s stock valued at $884,000 after purchasing an additional 5,970 shares in the last quarter. Advisors Asset Management Inc. lifted its stake in Global Net Lease by 73.5% during the first quarter. Advisors Asset Management Inc. now owns 698,844 shares of the financial services provider’s stock worth $5,430,000 after purchasing an additional 296,124 shares during the last quarter. Finally, Bank of Montreal Can boosted its holdings in shares of Global Net Lease by 12,401.0% in the 2nd quarter. Bank of Montreal Can now owns 3,118,873 shares of the financial services provider’s stock worth $22,986,000 after purchasing an additional 3,093,924 shares in the last quarter. Institutional investors own 61.19% of the company’s stock.

Global Net Lease Price Performance

GNL opened at $8.02 on Thursday. 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, Inc. has a 1 year low of $6.52 and a 1 year high of $10.19. The stock’s 50 day simple moving average is $8.50 and its 200 day simple moving average is $7.93. The firm has a market cap of $1.85 billion, a price-to-earnings ratio of -4.40, a PEG ratio of 1.06 and a beta of 1.37.

Global Net Lease (NYSE:GNL) last issued its earnings results on Tuesday, August 6th. The financial services provider reported ($0.20) EPS for the quarter, missing the consensus estimate of $0.32 by ($0.52). The firm 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 period in the previous year, the firm earned $0.40 earnings per share. As a group, analysts predict that Global Net Lease, Inc. will post 1.27 earnings per share for the current year.

Global Net Lease Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 16th. Stockholders of record on Friday, October 11th were issued a dividend of $0.275 per share. The ex-dividend date was Friday, October 11th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 13.72%. Global Net Lease’s dividend payout ratio is currently -60.44%.

Analyst Upgrades and Downgrades

GNL has been the topic of a number of research reports. Truist Financial raised their price objective on Global Net Lease from $8.00 to $8.50 and gave the company a “hold” rating in a report on Wednesday, August 21st. StockNews.com upgraded shares of Global Net Lease from a “sell” rating to a “hold” rating in a report on Thursday, August 8th. Finally, B. Riley cut 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. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $9.83.

Insider Buying and Selling

In other Global Net Lease news, major shareholder Nicholas S. Schorsch purchased 100,000 shares of the stock in a transaction on Wednesday, October 2nd. The stock was acquired at an average price of $8.40 per share, with a total value of $840,000.00. Following the transaction, the insider now directly owns 1,729,073 shares of the company’s stock, valued at approximately $14,524,213.20. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.31% of the stock is owned by insiders.

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.