M&T Bank Corp Sells 3,632 Shares of Global Net Lease, Inc. (NYSE:GNL)

M&T Bank Corp decreased its holdings in Global Net Lease, Inc. (NYSE:GNL) by 21.4% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 13,367 shares of the financial services provider’s stock after selling 3,632 shares during the quarter. M&T Bank Corp’s holdings in Global Net Lease were worth $113,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently added to or reduced their stakes in the business. American Capital Advisory LLC purchased a new position in shares of Global Net Lease during the 3rd quarter worth $34,000. Park Place Capital Corp bought a new stake in Global Net Lease during the third quarter valued at about $35,000. GAMMA Investing LLC increased its position in Global Net Lease by 60.1% in the third quarter. GAMMA Investing LLC now owns 5,054 shares of the financial services provider’s stock worth $43,000 after buying an additional 1,897 shares in the last quarter. KBC Group NV raised its stake in shares of Global Net Lease by 37.4% in the third quarter. KBC Group NV now owns 9,311 shares of the financial services provider’s stock worth $78,000 after buying an additional 2,535 shares during the period. Finally, Verus Capital Partners LLC purchased a new position in shares of Global Net Lease during the 2nd quarter valued at about $74,000. 61.19% of the stock is currently owned by institutional investors.

Global Net Lease Price Performance

GNL stock opened at $7.15 on Friday. 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 company’s fifty day moving average price is $7.60 and its 200-day moving average price is $7.97. Global Net Lease, Inc. has a one year low of $6.52 and a one year high of $10.19. The company has a market capitalization of $1.65 billion, a PE ratio of -7.61, a price-to-earnings-growth ratio of 0.93 and a beta of 1.34.

Global Net Lease (NYSE:GNL) last released its quarterly earnings data 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). Global Net Lease had a negative net margin of 21.37% and a negative return on equity of 7.04%. The company had revenue of $196.56 million for the quarter, compared to the consensus estimate of $198.76 million. During the same period last year, the company earned $0.36 EPS. On average, equities analysts anticipate that Global Net Lease, Inc. will post 1.27 EPS for the current fiscal year.

Global Net Lease Announces Dividend

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

Insider Activity

In other Global Net Lease news, major shareholder Nicholas S. Schorsch bought 100,000 shares of the firm’s 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 represents a 6.14 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.31% of the company’s stock.

Analysts Set New Price Targets

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

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.