Victory Capital Management Inc. Has $312,000 Stake in Global Net Lease, Inc. (NYSE:GNL)

Victory Capital Management Inc. trimmed its holdings in shares of Global Net Lease, Inc. (NYSE:GNL) by 10.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 37,094 shares of the financial services provider’s stock after selling 4,364 shares during the quarter. Victory Capital Management Inc.’s holdings in Global Net Lease were worth $312,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. Bank of Montreal Can boosted its holdings in Global Net Lease by 12,401.0% during the second quarter. Bank of Montreal Can now owns 3,118,873 shares of the financial services provider’s stock valued at $22,986,000 after acquiring an additional 3,093,924 shares during the period. TrueMark Investments LLC bought a new stake in Global Net Lease during the second quarter valued at about $3,367,000. Waterfall Asset Management LLC bought a new stake in Global Net Lease during the second quarter valued at about $2,122,000. Edgestream Partners L.P. boosted its holdings in Global Net Lease by 58.1% during the second quarter. Edgestream Partners L.P. now owns 772,479 shares of the financial services provider’s stock valued at $5,678,000 after acquiring an additional 283,739 shares during the period. Finally, Paralel Advisors LLC bought a new stake in Global Net Lease during the second quarter valued at about $1,102,000. 61.19% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Global Net Lease news, major shareholder Nicholas S. Schorsch purchased 100,000 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was purchased at an average price of $7.72 per share, with a total value of $772,000.00. Following the completion of the transaction, the insider now directly owns 1,829,073 shares of the company’s stock, valued at approximately $14,120,443.56. This trade represents a 5.78 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.31% of the company’s stock.

Global Net Lease Stock Down 1.1 %

NYSE GNL opened at $7.44 on Friday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.06 and a current ratio of 0.06. The firm has a 50-day simple moving average of $8.02 and a 200 day simple moving average of $8.01. Global Net Lease, Inc. has a twelve month low of $6.52 and a twelve month high of $10.19. The stock has a market cap of $1.71 billion, a PE ratio of -7.88, a PEG ratio of 0.99 and a beta of 1.38.

Global Net Lease (NYSE:GNL) last released its earnings results 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 net margin of 21.37% and a negative return on equity of 7.04%. The company had revenue of $196.56 million during the quarter, compared to the consensus estimate of $198.76 million. During the same quarter in the previous year, the business posted $0.36 EPS. On average, research analysts forecast that Global Net Lease, Inc. will post 1.27 EPS for the current year.

Global Net Lease Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 16th. Investors of record on Friday, October 11th were given a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 14.79%. The ex-dividend date of this dividend was Friday, October 11th. Global Net Lease’s dividend payout ratio (DPR) is presently -117.02%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on GNL shares. Truist Financial decreased their price target on shares of Global Net Lease from $8.50 to $8.00 and set a “hold” rating for the company in a report on Friday. StockNews.com upgraded shares of Global Net Lease from a “sell” rating to a “hold” rating in a report on Thursday, August 8th. Finally, B. Riley decreased 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 report on Monday, August 12th. Four equities 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, the stock has a consensus rating of “Hold” and an average price target of $9.67.

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.