Waterfall Asset Management LLC Makes New $2.12 Million Investment in Global Net Lease, Inc. (NYSE:GNL)

Waterfall Asset Management LLC purchased a new position in shares of Global Net Lease, Inc. (NYSE:GNL) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 288,699 shares of the financial services provider’s stock, valued at approximately $2,122,000. Global Net Lease makes up about 1.5% of Waterfall Asset Management LLC’s portfolio, making the stock its 11th biggest holding. Waterfall Asset Management LLC owned 0.13% of Global Net Lease at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Scarborough Advisors LLC bought a new stake in Global Net Lease during the fourth quarter worth $25,000. Verus Capital Partners LLC bought a new stake in Global Net Lease during the second quarter worth $74,000. Atomi Financial Group Inc. bought a new stake in Global Net Lease during the first quarter worth $81,000. Signaturefd LLC raised its position in Global Net Lease by 176.8% during the second quarter. Signaturefd LLC now owns 12,410 shares of the financial services provider’s stock worth $91,000 after acquiring an additional 7,927 shares in the last quarter. Finally, Kingswood Wealth Advisors LLC bought a new stake in Global Net Lease during the first quarter worth $119,000. 61.19% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have commented on GNL. StockNews.com upgraded shares of Global Net Lease from a “sell” rating to a “hold” rating in a report on Thursday, August 8th. Truist Financial upped their price objective on shares of Global Net Lease from $8.00 to $8.50 and gave the company a “hold” rating in a report on Wednesday, August 21st. BMO Capital Markets reiterated an “outperform” rating and issued a $11.00 price objective on shares of Global Net Lease in a report on Friday, June 28th. JMP Securities reiterated a “market perform” rating on shares of Global Net Lease in a report on Wednesday, June 12th. Finally, B. Riley decreased their price objective on shares of Global Net Lease from $11.00 to $10.00 and set a “buy” rating on the stock in a report on Monday, August 12th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $9.83.

Global Net Lease Trading Down 1.4 %

GNL stock opened at $8.67 on Friday. 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 company’s 50-day simple moving average is $8.53 and its 200 day simple moving average is $7.75. Global Net Lease, Inc. has a 52 week low of $6.52 and a 52 week high of $10.69. The company has a market capitalization of $2.00 billion, a PE ratio of -4.76, a price-to-earnings-growth ratio of 1.13 and a beta of 1.38.

Global Net Lease (NYSE:GNL) last released its quarterly earnings results on Tuesday, August 6th. The financial services provider reported ($0.20) EPS for the quarter, missing the consensus estimate of $0.32 by ($0.52). Global Net Lease had a negative net margin of 33.26% and a negative return on equity of 9.41%. The business had revenue of $203.29 million during the quarter, compared to analyst estimates of $204.80 million. During the same quarter last year, the company posted $0.40 earnings per share. As a group, sell-side analysts anticipate that Global Net Lease, Inc. will post 1.27 earnings per share for the current year.

Global Net Lease Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 16th. Investors of record on Thursday, July 11th were paid a $0.275 dividend. The ex-dividend date of this dividend was Thursday, July 11th. This is an increase from Global Net Lease’s previous quarterly dividend of $0.06. This represents a $1.10 annualized dividend and a dividend yield of 12.69%. Global Net Lease’s dividend payout ratio is -60.44%.

Insiders Place Their Bets

In other Global Net Lease news, major shareholder Nicholas S. Schorsch sold 100,000 shares of the stock in a transaction dated Wednesday, June 26th. The shares were 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 in the company, valued at $12,840,092.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Global Net Lease news, major shareholder Nicholas S. Schorsch sold 150,000 shares of the stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $7.19, for a total transaction of $1,078,500.00. Following the sale, the insider now directly owns 2,079,073 shares in the company, valued at $14,948,534.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Nicholas S. Schorsch sold 100,000 shares of the stock in a transaction dated 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 owns 1,829,073 shares in the company, valued at $12,840,092.46. The disclosure for this sale can be found here. Corporate insiders own 0.31% of the company’s stock.

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.