Global Net Lease, Inc. (NYSE:GNL) Shares Acquired by HighTower Advisors LLC

HighTower Advisors LLC boosted its holdings in Global Net Lease, Inc. (NYSE:GNL) by 5.8% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 135,902 shares of the financial services provider’s stock after buying an additional 7,493 shares during the quarter. HighTower Advisors LLC’s holdings in Global Net Lease were worth $1,144,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Global Net Lease by 392.8% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,048,596 shares of the financial services provider’s stock worth $8,829,000 after acquiring an additional 835,830 shares during the last quarter. Bank of Montreal Can increased its stake 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 purchasing an additional 3,093,924 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Global Net Lease by 4.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,058,850 shares of the financial services provider’s stock worth $34,176,000 after buying an additional 166,247 shares during the period. Advisors Asset Management Inc. lifted its stake in Global Net Lease by 12.2% during the third quarter. Advisors Asset Management Inc. now owns 1,109,842 shares of the financial services provider’s stock valued at $9,345,000 after buying an additional 120,610 shares in the last quarter. Finally, Private Advisor Group LLC acquired a new position in shares of Global Net Lease in the third quarter worth about $92,000. Institutional investors own 61.19% of the company’s stock.

Global Net Lease Stock Performance

GNL stock opened at $7.12 on Tuesday. The stock has a market cap of $1.64 billion, a P/E ratio of -7.57, a P/E/G ratio of 0.93 and a beta of 1.34. 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 firm has a 50 day simple moving average of $7.71 and a 200 day simple moving average of $7.99. Global Net Lease, Inc. has a 52 week low of $6.52 and a 52 week high of $10.19.

Global Net Lease (NYSE:GNL) last posted its quarterly earnings results on Wednesday, November 6th. The financial services provider reported ($0.33) EPS for the quarter, missing the consensus estimate of $0.32 by ($0.65). The company had revenue of $196.56 million for the quarter, compared to analysts’ expectations of $198.76 million. Global Net Lease had a negative net margin of 21.37% and a negative return on equity of 7.04%. During the same quarter in the prior year, the firm earned $0.36 earnings per share. Research analysts anticipate that Global Net Lease, Inc. will post 1.27 earnings per share for the current fiscal year.

Global Net Lease Dividend Announcement

The company 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. The ex-dividend date of this dividend was Friday, October 11th. This represents a $1.10 annualized dividend and a dividend yield of 15.45%. Global Net Lease’s payout ratio is -117.02%.

Insider Buying and Selling

In related news, major shareholder Nicholas S. Schorsch bought 100,000 shares of the business’s stock in a transaction on Monday, November 11th. The shares were bought at an average cost of $7.72 per share, for a total transaction of $772,000.00. Following the completion of the acquisition, the insider now directly owns 1,829,073 shares in the company, valued at approximately $14,120,443.56. This represents a 5.78 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.31% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Separately, Truist Financial cut their price target on shares of Global Net Lease from $8.50 to $8.00 and set a “hold” rating on the stock in a report on Friday, November 29th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Global Net Lease has a consensus rating of “Hold” and an average price target of $9.67.

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.