Bank of Montreal Can Purchases 3,093,924 Shares of Global Net Lease, Inc. (NYSE:GNL)

Bank of Montreal Can raised its position in shares of Global Net Lease, Inc. (NYSE:GNL) by 12,401.0% in the second quarter, Holdings Channel reports. The firm owned 3,118,873 shares of the financial services provider’s stock after acquiring an additional 3,093,924 shares during the quarter. Bank of Montreal Can’s holdings in Global Net Lease were worth $22,986,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Dimensional Fund Advisors LP increased its position in shares of Global Net Lease by 3.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,724,873 shares of the financial services provider’s stock valued at $27,113,000 after acquiring an additional 92,391 shares in the last quarter. Janney Montgomery Scott LLC bought a new stake in shares of Global Net Lease in the 4th quarter worth $953,000. Norges Bank purchased a new position in shares of Global Net Lease in the fourth quarter worth $9,378,000. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Global Net Lease by 0.5% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 360,146 shares of the financial services provider’s stock valued at $3,583,000 after purchasing an additional 1,666 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. lifted 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 purchasing an additional 3,044 shares in the last quarter. 61.19% of the stock is owned by hedge funds and other institutional investors.

Global Net Lease Stock Performance

GNL opened at $8.54 on Friday. The company’s 50 day moving average is $8.55 and its 200 day moving average is $7.79. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.72. The company has a market cap of $1.97 billion, a price-to-earnings ratio of -4.69, a PEG ratio of 1.15 and a beta of 1.38. Global Net Lease, Inc. has a 12-month low of $6.52 and a 12-month high of $10.19.

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

Global Net Lease Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 16th. Shareholders of record on Thursday, July 11th were given a $0.275 dividend. This is a boost from Global Net Lease’s previous quarterly dividend of $0.06. The ex-dividend date was Thursday, July 11th. This represents a $1.10 dividend on an annualized basis and a yield of 12.88%. Global Net Lease’s dividend payout ratio is presently -60.44%.

Analysts Set New Price Targets

A number of brokerages have weighed in on GNL. JMP Securities reissued a “market perform” rating on shares of Global Net Lease in a research report on Wednesday, June 12th. B. Riley lowered 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 research report on Monday, August 12th. BMO Capital Markets restated an “outperform” rating and issued a $11.00 target price on shares of Global Net Lease in a report on Friday, June 28th. StockNews.com upgraded shares of Global Net Lease from a “sell” rating to a “hold” rating in a research note on Thursday, August 8th. Finally, Truist Financial increased their price target on Global Net Lease from $8.00 to $8.50 and gave the company a “hold” rating in a report on Wednesday, August 21st. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Global Net Lease currently has an average rating of “Hold” and an average price target of $9.83.

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.