Global Net Lease, Inc. (NYSE:GNL) Shares Purchased by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company boosted its position in Global Net Lease, Inc. (NYSE:GNL) by 5.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 161,101 shares of the financial services provider’s stock after buying an additional 8,587 shares during the period. The Manufacturers Life Insurance Company’s holdings in Global Net Lease were worth $1,184,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. AQR Capital Management LLC lifted its stake in Global Net Lease by 0.6% during the 2nd quarter. AQR Capital Management LLC now owns 411,245 shares of the financial services provider’s stock valued at $3,023,000 after acquiring an additional 2,603 shares during the period. Caxton Associates LP lifted its stake in Global Net Lease by 777.4% during the 2nd quarter. Caxton Associates LP now owns 91,527 shares of the financial services provider’s stock valued at $673,000 after acquiring an additional 81,095 shares during the period. Marshall Wace LLP acquired a new stake in Global Net Lease during the 2nd quarter valued at approximately $147,000. Bank of Montreal Can lifted its stake in Global Net Lease by 12,401.0% during the 2nd 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. Finally, Public Sector Pension Investment Board lifted its stake in Global Net Lease by 7.4% during the 2nd quarter. Public Sector Pension Investment Board now owns 429,875 shares of the financial services provider’s stock valued at $3,160,000 after acquiring an additional 29,553 shares during the period. Institutional investors and hedge funds own 61.19% of the company’s stock.

Insider Transactions at Global Net Lease

In other Global Net Lease news, major shareholder Nicholas S. Schorsch bought 100,000 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The stock was acquired at an average price of $8.40 per share, with a total value of $840,000.00. Following the completion of the acquisition, the insider now directly owns 1,729,073 shares of the company’s stock, valued at $14,524,213.20. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.31% of the company’s stock.

Analysts Set New Price Targets

GNL has been the subject of several research reports. B. Riley decreased 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. BMO Capital Markets reiterated an “outperform” rating and issued a $11.00 target price on shares of Global Net Lease in a research note on Friday, June 28th. Truist Financial boosted their target price on shares of Global Net Lease from $8.00 to $8.50 and gave the company a “hold” rating in a research note on Wednesday, August 21st. Finally, StockNews.com upgraded shares of Global Net Lease from a “sell” rating to a “hold” rating in a research note on Thursday, August 8th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Global Net Lease presently has an average rating of “Hold” and a consensus target price of $9.83.

Global Net Lease Stock Performance

NYSE:GNL opened at $8.22 on Friday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.05 and a current ratio of 0.05. The company has a fifty day moving average of $8.49 and a two-hundred day moving average of $7.86. The stock has a market capitalization of $1.89 billion, a PE ratio of -4.52, a P/E/G ratio of 1.12 and a beta of 1.37. Global Net Lease, Inc. has a fifty-two week low of $6.52 and a fifty-two week high of $10.19.

Global Net Lease (NYSE:GNL) last posted its quarterly earnings data on Tuesday, August 6th. The financial services provider reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.52). The company had revenue of $203.29 million for the quarter, compared to analyst estimates 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 company posted $0.40 earnings per share. As a group, research analysts forecast that Global Net Lease, Inc. will post 1.27 earnings per share for the current fiscal year.

Global Net Lease Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 16th. Stockholders of record on Friday, October 11th will be issued a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 13.38%. The ex-dividend date of this dividend is Friday, October 11th. Global Net Lease’s payout ratio is -60.44%.

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.