Nisa Investment Advisors LLC reduced its stake in shares of Global Net Lease, Inc. (NYSE:GNL – Free Report) by 30.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 70,183 shares of the financial services provider’s stock after selling 30,716 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Global Net Lease were worth $591,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in GNL. Park Place Capital Corp purchased a new stake in shares of Global Net Lease in the third quarter valued at about $35,000. GAMMA Investing LLC raised its stake in Global Net Lease by 60.1% during the third quarter. GAMMA Investing LLC now owns 5,054 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 1,897 shares during the period. Verus Capital Partners LLC acquired a new stake in shares of Global Net Lease in the second quarter worth $74,000. Atomi Financial Group Inc. acquired a new stake in shares of Global Net Lease in the first quarter worth $81,000. Finally, Private Advisor Group LLC acquired a new stake in shares of Global Net Lease in the third quarter worth $92,000. 61.19% of the stock is currently owned by institutional investors and hedge funds.
Global Net Lease Stock Performance
Shares of GNL opened at $7.66 on Tuesday. The firm’s 50 day moving average is $8.47 and its 200-day moving average is $7.96. The stock has a market capitalization of $1.77 billion, a P/E ratio of -4.45, a P/E/G ratio of 1.02 and a beta of 1.38. 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 12-month low of $6.52 and a 12-month high of $10.19.
Global Net Lease Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, October 16th. Stockholders of record on Friday, October 11th were given a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 14.36%. The ex-dividend date of this dividend was Friday, October 11th. Global Net Lease’s dividend payout ratio (DPR) is currently -63.95%.
Analysts Set New Price Targets
GNL has been the subject of a number of recent analyst reports. Truist Financial raised 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. StockNews.com upgraded shares of Global Net Lease from a “sell” rating to a “hold” rating in a research note on Thursday, August 8th. Finally, B. Riley reduced 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 report on Monday, August 12th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $9.83.
Check Out Our Latest Stock Analysis on GNL
Insider Transactions at Global Net Lease
In other news, major shareholder Nicholas S. Schorsch bought 100,000 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The shares were acquired at an average cost of $8.40 per share, with a total value of $840,000.00. Following the completion of the transaction, the insider now directly owns 1,729,073 shares in the company, valued at approximately $14,524,213.20. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.31% of the stock is currently 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. 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.
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