Sumitomo Mitsui Trust Group Inc. Sells 11,035 Shares of Global Net Lease, Inc. (NYSE:GNL)

Sumitomo Mitsui Trust Group Inc. decreased its holdings in shares of Global Net Lease, Inc. (NYSE:GNL) by 5.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 210,386 shares of the financial services provider’s stock after selling 11,035 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Global Net Lease were worth $1,771,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GNL. Versor Investments LP acquired a new position in shares of Global Net Lease during the third quarter worth approximately $220,000. American Capital Advisory LLC bought a new position in Global Net Lease during the third quarter worth $34,000. Global Wealth Management Investment Advisory Inc. raised its stake in Global Net Lease by 53.2% during the 3rd quarter. Global Wealth Management Investment Advisory Inc. now owns 16,733 shares of the financial services provider’s stock valued at $141,000 after purchasing an additional 5,808 shares during the last quarter. Clarity Financial LLC bought a new stake in Global Net Lease in the 3rd quarter valued at $116,000. Finally, QRG Capital Management Inc. boosted its holdings in Global Net Lease by 23.8% in the 3rd quarter. QRG Capital Management Inc. now owns 15,471 shares of the financial services provider’s stock valued at $130,000 after purchasing an additional 2,978 shares during the period. Institutional investors and hedge funds own 61.19% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on GNL. Truist Financial boosted their price objective on shares of Global Net Lease from $8.00 to $8.50 and gave the stock a “hold” rating in a report on Wednesday, August 21st. B. Riley cut their price target on Global Net Lease from $11.00 to $10.00 and set a “buy” rating for the company in a report on Monday, August 12th. Finally, StockNews.com upgraded Global Net Lease from a “sell” rating to a “hold” rating in a research report on Thursday, August 8th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $9.83.

Global Net Lease Price Performance

NYSE:GNL opened at $7.31 on Wednesday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.06 and a current ratio of 0.06. The company has a 50-day moving average of $8.21 and a 200-day moving average of $8.01. Global Net Lease, Inc. has a 52 week low of $6.52 and a 52 week high of $10.19. The company has a market capitalization of $1.68 billion, a price-to-earnings ratio of -7.77, a PEG ratio of 0.96 and a beta of 1.38.

Global Net Lease (NYSE:GNL) last announced its quarterly earnings results on Wednesday, November 6th. The financial services provider reported ($0.33) EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.65). The business had revenue of $196.56 million for the quarter, compared to the consensus estimate 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 in the prior year, the business earned $0.36 EPS. As a group, equities research analysts anticipate that Global Net Lease, Inc. will post 1.27 earnings per share for the current fiscal year.

Global Net Lease Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 16th. Investors of record on Friday, October 11th were paid a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 15.06%. The ex-dividend date of this dividend was Friday, October 11th. Global Net Lease’s dividend payout ratio is -117.02%.

Insider Activity at Global Net Lease

In other news, major shareholder Nicholas S. Schorsch purchased 100,000 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was purchased at an average cost of $7.72 per share, with a total value of $772,000.00. Following the acquisition, the insider now directly owns 1,829,073 shares of the company’s stock, valued at approximately $14,120,443.56. This trade represents a 5.78 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.31% of the stock is owned by insiders.

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.