Marshall Wace LLP Takes Position in Global Net Lease, Inc. (NYSE:GNL)

Marshall Wace LLP purchased a new position in Global Net Lease, Inc. (NYSE:GNL) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 19,990 shares of the financial services provider’s stock, valued at approximately $147,000.

Other large investors have also modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Global Net Lease by 25.9% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,236,299 shares of the financial services provider’s stock valued at $17,376,000 after purchasing an additional 460,717 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Global Net Lease by 10.3% during the fourth quarter. Vanguard Group Inc. now owns 33,932,387 shares of the financial services provider’s stock worth $337,627,000 after purchasing an additional 3,162,310 shares during the last quarter. Sound Income Strategies LLC grew its position in Global Net Lease by 17.9% in the 1st quarter. Sound Income Strategies LLC now owns 1,022,526 shares of the financial services provider’s stock valued at $7,945,000 after buying an additional 155,377 shares during the last quarter. Edgestream Partners L.P. acquired a new position in shares of Global Net Lease during the first quarter worth about $3,798,000. Finally, Illinois Municipal Retirement Fund raised its stake in shares of Global Net Lease by 5.5% during the 1st quarter. Illinois Municipal Retirement Fund now owns 113,714 shares of the financial services provider’s stock worth $884,000 after buying an additional 5,970 shares in the last quarter. Hedge funds and other institutional investors own 61.19% of the company’s stock.

Global Net Lease Stock Performance

Global Net Lease stock opened at $8.22 on Monday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.05 and a current ratio of 0.05. Global Net Lease, Inc. has a one year low of $6.52 and a one year high of $10.19. The stock’s 50 day moving average price is $8.49 and its 200 day moving average price is $7.86. The firm has a market capitalization of $1.89 billion, a PE ratio of -4.52, a price-to-earnings-growth ratio of 1.12 and a beta of 1.37.

Global Net Lease (NYSE:GNL) last released its earnings results on Tuesday, August 6th. The financial services provider reported ($0.20) EPS for the quarter, missing the consensus estimate of $0.32 by ($0.52). The business 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 last year, the company posted $0.40 earnings per share. As a group, sell-side analysts expect that Global Net Lease, Inc. will post 1.27 EPS for the current fiscal year.

Global Net Lease Dividend Announcement

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

Analysts Set New Price Targets

A number of analysts recently commented on the stock. StockNews.com raised shares of Global Net Lease from a “sell” rating to a “hold” rating in a report on Thursday, August 8th. B. Riley reduced their target price on Global Net Lease from $11.00 to $10.00 and set a “buy” rating on the stock in a research note on Monday, August 12th. Truist Financial raised their price target on shares of Global Net Lease from $8.00 to $8.50 and gave the stock a “hold” rating in a research note on Wednesday, August 21st. Finally, 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. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $9.83.

Insider Buying and Selling at Global Net Lease

In related news, major shareholder Nicholas S. Schorsch acquired 100,000 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The stock was acquired at an average cost of $8.40 per share, for a total transaction 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 approximately $14,524,213.20. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.31% of the stock is owned by company insiders.

Global Net Lease Company 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.