Versor Investments LP Buys New Position in Global Net Lease, Inc. (NYSE:GNL)

Versor Investments LP purchased a new position in Global Net Lease, Inc. (NYSE:GNL) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 26,100 shares of the financial services provider’s stock, valued at approximately $220,000.

Other institutional investors have also recently made changes to their positions in the company. Bank of Montreal Can grew its position in Global Net Lease by 12,401.0% in the second quarter. Bank of Montreal Can now owns 3,118,873 shares of the financial services provider’s stock worth $22,986,000 after acquiring an additional 3,093,924 shares in the last quarter. Edgestream Partners L.P. purchased a new position in shares of Global Net Lease during the 1st quarter valued at about $3,798,000. TrueMark Investments LLC bought a new stake in Global Net Lease in the 2nd quarter worth approximately $3,367,000. Advisors Asset Management Inc. boosted its stake in Global Net Lease by 73.5% in the first quarter. Advisors Asset Management Inc. now owns 698,844 shares of the financial services provider’s stock worth $5,430,000 after buying an additional 296,124 shares in the last quarter. Finally, Waterfall Asset Management LLC bought a new position in Global Net Lease during the second quarter valued at approximately $2,122,000. Institutional investors own 61.19% of the company’s stock.

Global Net Lease Stock Performance

Shares of NYSE:GNL opened at $7.28 on Friday. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 0.70. The company has a 50-day moving average price of $8.27 and a 200-day moving average price of $8.00. The company has a market cap of $1.68 billion, a price-to-earnings ratio of -7.74, a price-to-earnings-growth ratio of 0.98 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 released its quarterly earnings data on Wednesday, November 6th. The financial services provider reported ($0.33) earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.65). Global Net Lease had a negative return on equity of 7.04% and a negative net margin of 21.37%. The business had revenue of $196.56 million during the quarter, compared to analysts’ expectations of $198.76 million. During the same quarter last year, the business posted $0.36 EPS. As a group, equities analysts anticipate that Global Net Lease, Inc. will post 1.27 EPS for the current year.

Global Net Lease Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 16th. Shareholders of record on Friday, October 11th were given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 15.11%. The ex-dividend date of this dividend was Friday, October 11th. Global Net Lease’s payout ratio is currently -117.02%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on GNL. B. Riley cut their price objective 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 upgraded Global Net Lease from a “sell” rating to a “hold” rating in a report on Thursday, August 8th. Finally, Truist Financial raised their price target on Global Net Lease from $8.00 to $8.50 and gave the stock a “hold” rating in a research report on Wednesday, August 21st. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $9.83.

Insiders Place Their Bets

In other news, major shareholder Nicholas S. Schorsch bought 100,000 shares of the stock in a transaction dated Monday, November 11th. The stock was bought at an average price of $7.72 per share, for a total transaction of $772,000.00. Following the purchase, the insider now directly owns 1,829,073 shares in the company, valued at $14,120,443.56. This trade represents a 5.78 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company 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.