Van ECK Associates Corp Buys 3,787 Shares of Global Net Lease, Inc. (NYSE:GNL)

Van ECK Associates Corp lifted its position in Global Net Lease, Inc. (NYSE:GNL) by 12.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 34,507 shares of the financial services provider’s stock after buying an additional 3,787 shares during the period. Van ECK Associates Corp’s holdings in Global Net Lease were worth $280,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the company. Edgestream Partners L.P. purchased a new position in Global Net Lease in the first quarter worth about $3,798,000. Illinois Municipal Retirement Fund increased its holdings in Global Net Lease by 5.5% during the first quarter. Illinois Municipal Retirement Fund now owns 113,714 shares of the financial services provider’s stock valued at $884,000 after buying an additional 5,970 shares during the last quarter. Advisors Asset Management Inc. increased its holdings in Global Net Lease by 73.5% during the first quarter. Advisors Asset Management Inc. now owns 698,844 shares of the financial services provider’s stock valued at $5,430,000 after buying an additional 296,124 shares during the last quarter. Bank of Montreal Can boosted its stake in shares of 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 worth $22,986,000 after acquiring an additional 3,093,924 shares during the last quarter. Finally, Atomi Financial Group Inc. bought a new stake in shares of Global Net Lease during the 1st quarter valued at $81,000. Institutional investors own 61.19% of the company’s stock.

Insider Buying and Selling at Global Net Lease

In other news, major shareholder Nicholas S. Schorsch acquired 100,000 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The stock was purchased at an average price of $8.40 per share, for a total transaction of $840,000.00. Following the completion of the transaction, the insider now directly owns 1,729,073 shares in the company, valued at approximately $14,524,213.20. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.31% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Truist Financial raised their target price 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 decreased their price objective 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. Finally, StockNews.com upgraded Global Net Lease from a “sell” rating to a “hold” rating in a research note on Thursday, August 8th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $9.83.

Global Net Lease Price Performance

NYSE:GNL opened at $7.45 on Wednesday. The business’s 50-day simple moving average is $8.35 and its two-hundred day simple moving average is $8.00. Global Net Lease, Inc. has a 52 week low of $6.52 and a 52 week high of $10.19. The stock has a market cap of $1.72 billion, a PE ratio of -7.93, a P/E/G ratio of 1.04 and a beta of 1.38. The company has a quick ratio of 0.05, a current ratio of 0.06 and a debt-to-equity ratio of 0.70.

Global Net Lease (NYSE:GNL) last issued its earnings results on Wednesday, November 6th. The financial services provider reported ($0.33) earnings per share (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 business had revenue of $196.56 million for the quarter, compared to the consensus estimate of $198.76 million. During the same period last year, the business posted $0.36 EPS. As a group, analysts forecast that Global Net Lease, Inc. will post 1.27 EPS for the current fiscal year.

Global Net Lease Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 16th. Investors of record on Friday, October 11th were paid a dividend of $0.275 per share. The ex-dividend date was Friday, October 11th. This represents a $1.10 annualized dividend and a yield of 14.77%. Global Net Lease’s payout ratio is -117.02%.

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.