Nisa Investment Advisors LLC Sells 7,917 Shares of Global Net Lease, Inc. (NYSE:GNL)

Nisa Investment Advisors LLC trimmed its stake in Global Net Lease, Inc. (NYSE:GNL) by 11.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 62,266 shares of the financial services provider’s stock after selling 7,917 shares during the period. Nisa Investment Advisors LLC’s holdings in Global Net Lease were worth $455,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. HB Wealth Management LLC acquired a new stake in shares of Global Net Lease in the 4th quarter valued at $81,000. Arkadios Wealth Advisors increased its position in shares of Global Net Lease by 8.6% during the 4th quarter. Arkadios Wealth Advisors now owns 59,945 shares of the financial services provider’s stock worth $438,000 after purchasing an additional 4,724 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Global Net Lease by 31.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 612,228 shares of the financial services provider’s stock valued at $5,155,000 after purchasing an additional 147,803 shares during the last quarter. Virtu Financial LLC acquired a new position in Global Net Lease in the third quarter valued at about $114,000. Finally, McIlrath & Eck LLC bought a new stake in Global Net Lease during the third quarter worth about $67,000. 61.19% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. JMP Securities upgraded shares of Global Net Lease from a “market perform” rating to an “outperform” rating and set a $9.00 target price for the company in a research note on Tuesday, December 17th. Truist Financial cut their price objective on Global Net Lease from $8.50 to $8.00 and set a “hold” rating for the company in a research report on Friday, November 29th. Finally, Citizens Jmp upgraded Global Net Lease from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 17th. Three research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $9.50.

Global Net Lease Stock Performance

Shares of Global Net Lease stock opened at $7.22 on Wednesday. The firm has a 50 day simple moving average of $7.26 and a 200 day simple moving average of $7.96. Global Net Lease, Inc. has a fifty-two week low of $6.52 and a fifty-two week high of $9.10. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.06 and a quick ratio of 0.06. The firm has a market cap of $1.66 billion, a P/E ratio of -7.68 and a beta of 1.34.

Global Net Lease (NYSE:GNL) last released its earnings results on Wednesday, November 6th. The financial services provider reported ($0.33) EPS 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 firm had revenue of $196.56 million during the quarter, compared to analyst estimates of $198.76 million. During the same period last year, the business posted $0.36 earnings per share. Sell-side analysts predict that Global Net Lease, Inc. will post 1.26 earnings per share for the current fiscal year.

Global Net Lease Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Shareholders of record on Monday, January 13th were given a dividend of $0.275 per share. The ex-dividend date of this dividend was Monday, January 13th. This represents a $1.10 dividend on an annualized basis and a yield of 15.25%. Global Net Lease’s payout ratio is presently -117.02%.

Insider Activity

In related news, major shareholder Nicholas S. Schorsch purchased 100,000 shares of Global Net Lease stock in a transaction dated Monday, November 11th. The shares were acquired at an average cost of $7.72 per share, for a total transaction of $772,000.00. Following 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 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.