Bokf Na Sells 4,060 Shares of Global Net Lease, Inc. (NYSE:GNL)

Bokf Na reduced its stake in Global Net Lease, Inc. (NYSE:GNL) by 17.2% during the second quarter, HoldingsChannel.com reports. The fund owned 19,596 shares of the financial services provider’s stock after selling 4,060 shares during the quarter. Bokf Na’s holdings in Global Net Lease were worth $144,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Russell Investments Group Ltd. increased its holdings in shares of Global Net Lease by 7,183.9% in the fourth quarter. Russell Investments Group Ltd. now owns 20,759 shares of the financial services provider’s stock worth $207,000 after purchasing an additional 20,474 shares during the last quarter. Victory Capital Management Inc. grew its holdings in shares of Global Net Lease by 23.5% in the fourth quarter. Victory Capital Management Inc. now owns 38,960 shares of the financial services provider’s stock valued at $388,000 after purchasing an additional 7,406 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Global Net Lease by 5.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,698,157 shares of the financial services provider’s stock valued at $36,797,000 after purchasing an additional 200,649 shares in the last quarter. Principal Securities Inc. purchased a new stake in shares of Global Net Lease during the 4th quarter valued at about $86,000. Finally, Dimensional Fund Advisors LP grew its position in Global Net Lease by 3.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,724,873 shares of the financial services provider’s stock worth $27,113,000 after acquiring an additional 92,391 shares in the last quarter. 61.19% of the stock is currently owned by institutional investors.

Global Net Lease Price Performance

Global Net Lease stock opened at $8.83 on Wednesday. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.05 and a quick ratio of 0.05. The stock has a market cap of $2.03 billion, a price-to-earnings ratio of -4.85, a price-to-earnings-growth ratio of 1.13 and a beta of 1.38. The firm has a 50-day moving average of $8.44 and a two-hundred day moving average of $7.71. Global Net Lease, Inc. has a 1 year low of $6.52 and a 1 year high of $11.14.

Global Net Lease (NYSE:GNL) last announced its quarterly earnings results on Tuesday, August 6th. The financial services provider reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.52). The firm had revenue of $203.29 million during the quarter, compared to analysts’ expectations of $204.80 million. Global Net Lease had a negative net margin of 33.26% and a negative return on equity of 9.41%. During the same quarter in the previous year, the firm posted $0.40 EPS. On average, research analysts forecast that Global Net Lease, Inc. will post 1.27 earnings per share for the current year.

Global Net Lease Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 16th. Stockholders of record on Thursday, July 11th were paid a dividend of $0.275 per share. The ex-dividend date of this dividend was Thursday, July 11th. This represents a $1.10 annualized dividend and a dividend yield of 12.46%. This is a positive change from Global Net Lease’s previous quarterly dividend of $0.06. Global Net Lease’s dividend payout ratio (DPR) is currently -60.44%.

Analysts Set New Price Targets

Several research firms have recently issued reports on GNL. BMO Capital Markets reaffirmed an “outperform” rating and issued a $11.00 price objective on shares of Global Net Lease in a research note on Friday, June 28th. Truist Financial increased their target price on shares of Global Net Lease from $8.00 to $8.50 and gave the company a “hold” rating in a research note on Wednesday, August 21st. B. Riley dropped their price target 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. StockNews.com raised shares of Global Net Lease from a “sell” rating to a “hold” rating in a research report on Thursday, August 8th. Finally, JMP Securities restated a “market perform” rating on shares of Global Net Lease in a research report on Wednesday, June 12th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Global Net Lease currently has an average rating of “Hold” and an average target price of $11.13.

Insider Activity at Global Net Lease

In other Global Net Lease news, major shareholder Nicholas S. Schorsch sold 433,350 shares of the stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $7.19, for a total transaction of $3,115,786.50. Following the transaction, the insider now directly owns 2,679,073 shares in the company, valued at approximately $19,262,534.87. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Global Net Lease news, major shareholder Nicholas S. Schorsch sold 100,000 shares of the company’s stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $7.02, for a total transaction of $702,000.00. Following the completion of the sale, the insider now owns 1,829,073 shares in the company, valued at $12,840,092.46. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, major shareholder Nicholas S. Schorsch sold 433,350 shares of the stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $7.19, for a total value of $3,115,786.50. Following the sale, the insider now directly owns 2,679,073 shares in the company, valued at approximately $19,262,534.87. The disclosure for this sale can be found here. Insiders sold 683,350 shares of company stock worth $4,896,287 over the last three months. 0.31% of the stock is owned by corporate insiders.

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.