Global Net Lease, Inc. (NYSE:GNL) Shares Purchased by Concorde Asset Management LLC

Concorde Asset Management LLC grew its holdings in shares of Global Net Lease, Inc. (NYSE:GNL) by 51.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 57,333 shares of the financial services provider’s stock after purchasing an additional 19,600 shares during the period. Concorde Asset Management LLC’s holdings in Global Net Lease were worth $421,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Corient Private Wealth LLC boosted its stake in Global Net Lease by 3,410.4% in the fourth quarter. Corient Private Wealth LLC now owns 2,688,951 shares of the financial services provider’s stock valued at $26,755,000 after acquiring an additional 2,612,351 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its stake in Global Net Lease by 25.9% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,236,299 shares of the financial services provider’s stock valued at $17,376,000 after buying an additional 460,717 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Global Net Lease by 10.3% during the fourth quarter. Vanguard Group Inc. now owns 33,932,387 shares of the financial services provider’s stock valued at $337,627,000 after acquiring an additional 3,162,310 shares during the period. CastleKnight Management LP increased its stake in shares of Global Net Lease by 59.2% in the fourth quarter. CastleKnight Management LP now owns 1,164,081 shares of the financial services provider’s stock valued at $11,583,000 after purchasing an additional 432,729 shares during the period. Finally, Nomura Asset Management Co. Ltd. raised its holdings in shares of Global Net Lease by 1.4% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 219,851 shares of the financial services provider’s stock valued at $2,188,000 after buying an additional 3,044 shares during the last quarter. 61.19% of the stock is owned by institutional investors and hedge funds.

Global Net Lease Trading Up 0.5 %

Global Net Lease stock opened at $8.88 on Thursday. Global Net Lease, Inc. has a 1 year low of $6.52 and a 1 year high of $11.05. The firm has a market cap of $2.04 billion, a price-to-earnings ratio of -4.88, a price-to-earnings-growth ratio of 1.13 and a beta of 1.38. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.05 and a current ratio of 0.05. The firm’s 50 day moving average price is $8.49 and its two-hundred day moving average price is $7.73.

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

Global Net Lease Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 16th. Investors of record on Thursday, July 11th were given a dividend of $0.275 per share. The ex-dividend date was Thursday, July 11th. This is an increase from Global Net Lease’s previous quarterly dividend of $0.06. This represents a $1.10 dividend on an annualized basis and a yield of 12.39%. Global Net Lease’s payout ratio is presently -60.44%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on GNL shares. B. Riley cut their target price on Global Net Lease from $11.00 to $10.00 and set a “buy” rating on the stock in a research note on Monday, August 12th. JMP Securities restated a “market perform” rating on shares of Global Net Lease in a research note on Wednesday, June 12th. 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 report on Wednesday, August 21st. BMO Capital Markets restated an “outperform” rating and set a $11.00 price target on shares of Global Net Lease in a research report on Friday, June 28th. Finally, StockNews.com upgraded shares of Global Net Lease from a “sell” rating to a “hold” rating in a research note on Thursday, August 8th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $9.83.

Insider Buying and Selling at Global Net Lease

In other news, major shareholder Nicholas S. Schorsch sold 100,000 shares of the business’s stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $7.02, for a total transaction of $702,000.00. Following the transaction, the insider now directly owns 1,829,073 shares in the company, valued at approximately $12,840,092.46. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Global Net Lease news, major shareholder Nicholas S. Schorsch sold 150,000 shares of the company’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $7.19, for a total transaction of $1,078,500.00. Following the completion of the sale, the insider now owns 2,079,073 shares of the company’s stock, valued at $14,948,534.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 sale, the insider now directly owns 1,829,073 shares of the company’s stock, valued at $12,840,092.46. The disclosure for this sale can be found here. Company 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.