Quest Partners LLC Acquires 33,015 Shares of Global Net Lease, Inc. (NYSE:GNL)

Quest Partners LLC boosted its holdings in Global Net Lease, Inc. (NYSE:GNL) by 21,578.4% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 33,168 shares of the financial services provider’s stock after acquiring an additional 33,015 shares during the quarter. Quest Partners LLC’s holdings in Global Net Lease were worth $244,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Scarborough Advisors LLC bought a new position in Global Net Lease in the 4th quarter worth about $25,000. Principal Securities Inc. purchased a new position in shares of Global Net Lease in the 4th quarter worth about $86,000. Verus Capital Partners LLC purchased a new position in shares of Global Net Lease in the 2nd quarter worth about $74,000. Atomi Financial Group Inc. purchased a new position in shares of Global Net Lease in the 1st quarter worth about $81,000. Finally, Journey Strategic Wealth LLC purchased a new position in shares of Global Net Lease in the 4th quarter worth about $106,000. 61.19% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Global Net Lease

In other Global Net Lease news, major shareholder Nicholas S. Schorsch sold 100,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 26th. The stock was sold at an average price of $7.02, for a total transaction of $702,000.00. Following the completion of the transaction, the insider now owns 1,829,073 shares of the company’s stock, valued at approximately $12,840,092.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Global Net Lease news, major shareholder Nicholas S. Schorsch sold 100,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 26th. The stock was sold at an average price of $7.02, for a total transaction of $702,000.00. Following the completion of the transaction, the insider now owns 1,829,073 shares of the company’s stock, valued at approximately $12,840,092.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Nicholas S. Schorsch sold 433,350 shares of the stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $7.19, for a total value of $3,115,786.50. Following the completion of the transaction, the insider now directly owns 2,679,073 shares of the company’s stock, valued at approximately $19,262,534.87. The disclosure for this sale can be found here. Insiders sold 883,350 shares of company stock valued at $6,328,287 in the last 90 days. Insiders own 0.31% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. StockNews.com upgraded 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 Global Net Lease from $8.00 to $8.50 and gave the stock a “hold” rating in a report on Wednesday, August 21st. B. Riley cut their price objective on Global Net Lease from $11.00 to $10.00 and set a “buy” rating for the company in a report on Monday, August 12th. 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. Finally, JMP Securities restated a “market perform” rating on shares of Global Net Lease in a report on Wednesday, June 12th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, Global Net Lease has an average rating of “Hold” and a consensus target price of $11.13.

Global Net Lease Trading Up 2.4 %

Shares of GNL stock opened at $8.94 on Friday. The stock has a market capitalization of $2.06 billion, a PE ratio of -4.91, a P/E/G ratio of 1.13 and a beta of 1.38. Global Net Lease, Inc. has a 1-year low of $6.52 and a 1-year high of $11.42. The business has a 50-day moving average of $8.41 and a 200 day moving average of $7.70. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.05 and a quick ratio of 0.05.

Global Net Lease (NYSE:GNL) last issued its 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 company had revenue of $203.29 million for the quarter, compared to analysts’ expectations of $204.80 million. Global Net Lease had a negative net margin of 33.26% and a negative return on equity of 9.41%. During the same quarter in the prior year, the company earned $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. Shareholders of record on Thursday, July 11th were given a dividend of $0.275 per share. This is a positive change from Global Net Lease’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend was Thursday, July 11th. This represents a $1.10 dividend on an annualized basis and a yield of 12.30%. Global Net Lease’s dividend payout ratio is presently -60.44%.

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.