Park Place Capital Corp Takes Position in Global Net Lease, Inc. (NYSE:GNL)

Park Place Capital Corp acquired a new position in Global Net Lease, Inc. (NYSE:GNL) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 4,127 shares of the financial services provider’s stock, valued at approximately $35,000.

Several other large investors also recently added to or reduced their stakes in GNL. Vanguard Group Inc. boosted its position in Global Net Lease by 10.3% during the fourth quarter. Vanguard Group Inc. now owns 33,932,387 shares of the financial services provider’s stock worth $337,627,000 after purchasing an additional 3,162,310 shares during the period. Bank of Montreal Can boosted its holdings in 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 buying an additional 3,093,924 shares during the period. 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 valued at $17,376,000 after buying an additional 460,717 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Global Net Lease by 0.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,607,268 shares of the financial services provider’s stock valued at $11,813,000 after acquiring an additional 6,715 shares during the period. Finally, Sound Income Strategies LLC lifted its position in shares of Global Net Lease by 17.9% during the first quarter. Sound Income Strategies LLC now owns 1,022,526 shares of the financial services provider’s stock worth $7,945,000 after acquiring an additional 155,377 shares in the last quarter. Hedge funds and other institutional investors own 61.19% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on GNL shares. StockNews.com upgraded Global Net Lease from a “sell” rating to a “hold” rating in a research note on Thursday, August 8th. JMP Securities reissued a “market perform” rating on shares of Global Net Lease in a report on Wednesday, June 12th. 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. 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 note on Wednesday, August 21st. Finally, BMO Capital Markets restated an “outperform” rating and set a $11.00 price target on shares of Global Net Lease in a research report on Friday, June 28th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $9.83.

Insiders Place Their Bets

In other news, major shareholder Nicholas S. Schorsch acquired 100,000 shares of Global Net Lease stock in a transaction dated 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 transaction, the insider now owns 1,729,073 shares of the company’s stock, valued at $14,524,213.20. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 0.31% of the company’s stock.

Global Net Lease Stock Up 1.3 %

Shares of NYSE GNL opened at $8.57 on Thursday. 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 business has a 50-day moving average of $8.50 and a 200-day moving average of $7.84. The firm has a market capitalization of $1.97 billion, a price-to-earnings ratio of -4.71, a PEG ratio of 1.15 and a beta of 1.37. Global Net Lease, Inc. has a 12 month low of $6.52 and a 12 month high of $10.19.

Global Net Lease (NYSE:GNL) last released its quarterly 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). The company 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 prior year, the firm earned $0.40 EPS. Sell-side analysts expect that Global Net Lease, Inc. will post 1.27 earnings per share for the current fiscal year.

Global Net Lease Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 16th. Shareholders of record on Friday, October 11th will be given a dividend of $0.275 per share. The ex-dividend date of this dividend is Friday, October 11th. This represents a $1.10 dividend on an annualized basis and a yield of 12.84%. Global Net Lease’s payout ratio is -60.44%.

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.