Fmr LLC Boosts Stock Position in Global Net Lease, Inc. (NYSE:GNL)

Fmr LLC increased its position in Global Net Lease, Inc. (NYSE:GNL) by 11.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,370 shares of the financial services provider’s stock after acquiring an additional 3,675 shares during the quarter. Fmr LLC’s holdings in Global Net Lease were worth $306,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GNL. Bank of Montreal Can increased its stake in shares of Global Net Lease by 12,401.0% in the second 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. boosted its holdings in Global Net Lease by 4.3% in 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. increased its stake in Global Net Lease by 12.2% in the 3rd quarter. Advisors Asset Management Inc. now owns 1,109,842 shares of the financial services provider’s stock worth $9,345,000 after buying an additional 120,610 shares in the last quarter. Private Advisor Group LLC bought a new stake in Global Net Lease during the third quarter valued at about $92,000. Finally, Wealth Enhancement Advisory Services LLC purchased a new position in shares of Global Net Lease in the second quarter valued at about $292,000. Institutional investors own 61.19% of the company’s stock.

Global Net Lease Trading Up 1.9 %

Shares of GNL stock opened at $7.15 on Friday. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 0.70. The stock has a market capitalization of $1.65 billion, a price-to-earnings ratio of -7.61, a price-to-earnings-growth ratio of 0.93 and a beta of 1.34. Global Net Lease, Inc. has a 12-month low of $6.52 and a 12-month high of $10.19. The stock’s 50-day moving average price is $7.60 and its 200-day moving average price is $7.97.

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

Global Net Lease Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 16th. Shareholders of record on Friday, October 11th were given a dividend of $0.275 per share. The ex-dividend date was Friday, October 11th. This represents a $1.10 annualized dividend and a yield of 15.38%. Global Net Lease’s dividend payout ratio (DPR) is currently -117.02%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on GNL. Truist Financial dropped their price objective on Global Net Lease from $8.50 to $8.00 and set a “hold” rating for the company in a research note on Friday, November 29th. Citizens Jmp upgraded Global Net Lease from a “hold” rating to a “strong-buy” rating in a research note on Tuesday. Finally, JMP Securities raised shares of Global Net Lease from a “market perform” rating to an “outperform” rating and set a $9.00 price objective for the company in a report on Tuesday. Three research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $9.50.

Insiders Place Their Bets

In related news, major shareholder Nicholas S. Schorsch bought 100,000 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were purchased at an average price of $7.72 per share, with a total value of $772,000.00. Following the transaction, the insider now owns 1,829,073 shares in the company, valued at $14,120,443.56. This trade represents a 5.78 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.31% of the company’s stock.

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.