Daiwa Securities Group Inc. Sells 2,426 Shares of Global Net Lease, Inc. (NYSE:GNL)

Daiwa Securities Group Inc. cut its stake in shares of Global Net Lease, Inc. (NYSE:GNL) by 3.8% during the 2nd quarter, Holdings Channel reports. The fund owned 60,964 shares of the financial services provider’s stock after selling 2,426 shares during the period. Daiwa Securities Group Inc.’s holdings in Global Net Lease were worth $448,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Louisiana State Employees Retirement System raised its holdings in Global Net Lease by 1.7% during the second quarter. Louisiana State Employees Retirement System now owns 98,300 shares of the financial services provider’s stock worth $723,000 after buying an additional 1,600 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its holdings in shares of Global Net Lease by 0.5% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 360,146 shares of the financial services provider’s stock valued at $3,583,000 after purchasing an additional 1,666 shares during the last quarter. Texas Permanent School Fund Corp raised its holdings in shares of Global Net Lease by 1.0% in the first quarter. Texas Permanent School Fund Corp now owns 170,328 shares of the financial services provider’s stock valued at $1,323,000 after purchasing an additional 1,689 shares during the last quarter. Arkadios Wealth Advisors raised its holdings in shares of Global Net Lease by 3.2% in the second quarter. Arkadios Wealth Advisors now owns 58,017 shares of the financial services provider’s stock valued at $426,000 after purchasing an additional 1,789 shares during the last quarter. Finally, Capital Market Strategies LLC raised its holdings in shares of Global Net Lease by 14.6% in the second quarter. Capital Market Strategies LLC now owns 15,694 shares of the financial services provider’s stock valued at $115,000 after purchasing an additional 2,000 shares during the last quarter. 61.19% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. BMO Capital Markets reiterated an “outperform” rating and issued a $11.00 target price on shares of Global Net Lease in a report on Friday, June 28th. Truist Financial increased their target price on shares of Global Net Lease from $8.00 to $8.50 and gave the stock a “hold” rating in a research report on Wednesday, August 21st. JMP Securities reaffirmed a “market perform” rating on shares of Global Net Lease in a research note on Wednesday, June 12th. B. Riley decreased their price target on shares of Global Net Lease from $11.00 to $10.00 and set a “buy” rating on the stock in a research note on Monday, August 12th. Finally, StockNews.com raised shares of Global Net Lease from a “sell” rating to a “hold” rating in a research note on Thursday, August 8th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Global Net Lease presently has a consensus rating of “Hold” and a consensus target price of $11.13.

Global Net Lease Stock Performance

Shares of GNL stock opened at $8.93 on Tuesday. Global Net Lease, Inc. has a 12 month low of $6.52 and a 12 month high of $11.14. The stock has a market cap of $2.06 billion, a PE ratio of -4.91, a price-to-earnings-growth ratio of 1.13 and a beta of 1.38. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.72. The company’s fifty day moving average price is $8.41 and its 200-day moving average price is $7.70.

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

Global Net Lease Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 16th. Shareholders of record on Thursday, July 11th were given a $0.275 dividend. This is a positive change from Global Net Lease’s previous quarterly dividend of $0.06. The ex-dividend date was Thursday, July 11th. This represents a $1.10 dividend on an annualized basis and a yield of 12.32%. Global Net Lease’s payout ratio is -60.44%.

Insiders Place Their Bets

In other Global Net Lease news, major shareholder Nicholas S. Schorsch sold 100,000 shares of the business’s stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $7.02, for a total value of $702,000.00. Following the completion of the transaction, the insider now owns 1,829,073 shares of the company’s stock, valued at approximately $12,840,092.46. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Global Net Lease news, major shareholder Nicholas S. Schorsch sold 150,000 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $7.19, for a total transaction of $1,078,500.00. Following the sale, the insider now owns 2,079,073 shares in the company, valued at approximately $14,948,534.87. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Nicholas S. Schorsch sold 100,000 shares of Global Net Lease stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $7.02, for a total transaction of $702,000.00. Following the transaction, the insider now directly owns 1,829,073 shares in the company, valued at approximately $12,840,092.46. The disclosure for this sale can be found here. In the last 90 days, insiders sold 683,350 shares of company stock valued at $4,896,287. 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.