Verus Capital Partners LLC Acquires New Position in Global Net Lease, Inc. (NYSE:GNL)

Verus Capital Partners LLC bought a new position in Global Net Lease, Inc. (NYSE:GNL) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 10,034 shares of the financial services provider’s stock, valued at approximately $74,000.

A number of other institutional investors have also modified their holdings of GNL. GraniteShares Advisors LLC raised its position in Global Net Lease by 14.2% during the 2nd quarter. GraniteShares Advisors LLC now owns 192,686 shares of the financial services provider’s stock valued at $1,416,000 after purchasing an additional 24,029 shares in the last quarter. Van ECK Associates Corp raised its holdings in shares of Global Net Lease by 10.0% in the second quarter. Van ECK Associates Corp now owns 30,720 shares of the financial services provider’s stock valued at $226,000 after acquiring an additional 2,802 shares in the last quarter. Signaturefd LLC lifted its stake in Global Net Lease by 176.8% in the second quarter. Signaturefd LLC now owns 12,410 shares of the financial services provider’s stock worth $91,000 after acquiring an additional 7,927 shares during the period. TrueMark Investments LLC purchased a new stake in Global Net Lease in the second quarter worth about $3,367,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Global Net Lease by 7.9% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 77,654 shares of the financial services provider’s stock worth $571,000 after acquiring an additional 5,663 shares in the last quarter. 61.19% of the stock is owned by hedge funds and other institutional investors.

Global Net Lease Price Performance

NYSE GNL opened at $8.51 on Wednesday. The firm’s fifty day simple moving average is $8.19 and its two-hundred day simple moving average is $7.64. The firm has a market capitalization of $1.96 billion, a P/E ratio of -4.67, a P/E/G ratio of 1.13 and a beta of 1.37. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.72. Global Net Lease, Inc. has a 12-month low of $6.52 and a 12-month high of $11.44.

Global Net Lease (NYSE:GNL) last announced its earnings results on Tuesday, August 6th. The financial services provider reported ($0.20) earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.52). Global Net Lease had a negative return on equity of 9.41% and a negative net margin of 33.26%. The business had revenue of $203.29 million for the quarter, compared to analysts’ expectations of $204.80 million. During the same quarter last year, the firm earned $0.40 earnings per share. Analysts forecast that Global Net Lease, Inc. will post 1.27 EPS for the current fiscal year.

Global Net Lease Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 16th. Stockholders of record on Thursday, July 11th were issued a dividend of $0.275 per share. The ex-dividend date was Thursday, July 11th. This represents a $1.10 annualized dividend and a dividend yield of 12.93%. This is an increase from Global Net Lease’s previous quarterly dividend of $0.06. Global Net Lease’s dividend payout ratio is -60.44%.

Wall Street Analyst Weigh In

GNL has been the subject of several recent research reports. Truist Financial boosted their price target on shares of Global Net Lease from $8.00 to $8.50 and gave the company a “hold” rating in a report on Wednesday, August 21st. B. Riley reduced 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 report on Wednesday, June 12th. StockNews.com upgraded Global Net Lease from a “sell” rating to a “hold” rating in a report on Thursday, August 8th. Finally, BMO Capital Markets restated an “outperform” rating and set a $11.00 price objective on shares of Global Net Lease in a research note on Friday, June 28th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $11.13.

Insider Activity at Global Net Lease

In other Global Net Lease news, major shareholder Nicholas S. Schorsch sold 200,000 shares of the business’s stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $7.16, for a total transaction of $1,432,000.00. Following the sale, the insider now owns 3,201,694 shares of the company’s stock, valued at approximately $22,924,129.04. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, major shareholder Nicholas S. Schorsch sold 159,720 shares of the company’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $7.32, for a total value of $1,169,150.40. Following the transaction, the insider now directly owns 3,546,752 shares of the company’s stock, valued at approximately $25,962,224.64. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Nicholas S. Schorsch sold 200,000 shares of the firm’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of $7.16, for a total value of $1,432,000.00. Following the completion of the transaction, the insider now owns 3,201,694 shares of the company’s stock, valued at approximately $22,924,129.04. The disclosure for this sale can be found here. Insiders sold 1,043,070 shares of company stock valued at $7,497,437 in the last three months. 0.31% of the stock is owned by insiders.

About Global Net Lease

Global Net Lease, Inc (NYSE: GNL) is a publicly traded real estate investment trust listed on the NYSE 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.