QRG Capital Management Inc. Acquires 2,978 Shares of Global Net Lease, Inc. (NYSE:GNL)

QRG Capital Management Inc. raised its holdings in shares of Global Net Lease, Inc. (NYSE:GNL) by 23.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,471 shares of the financial services provider’s stock after buying an additional 2,978 shares during the period. QRG Capital Management Inc.’s holdings in Global Net Lease were worth $130,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Bank of Montreal Can increased its stake in shares of Global Net Lease by 12,401.0% in 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 purchasing an additional 3,093,924 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Global Net Lease by 0.4% in the second quarter. Bank of New York Mellon Corp now owns 1,607,268 shares of the financial services provider’s stock worth $11,813,000 after buying an additional 6,715 shares during the period. Edgestream Partners L.P. lifted its position in shares of Global Net Lease by 58.1% during the 2nd quarter. Edgestream Partners L.P. now owns 772,479 shares of the financial services provider’s stock valued at $5,678,000 after buying an additional 283,739 shares in the last quarter. Advisors Asset Management Inc. grew its stake in shares of Global Net Lease by 73.5% during the 1st quarter. Advisors Asset Management Inc. now owns 698,844 shares of the financial services provider’s stock valued at $5,430,000 after acquiring an additional 296,124 shares during the period. Finally, TrueMark Investments LLC purchased a new stake in Global Net Lease in the 2nd quarter worth approximately $3,367,000. 61.19% of the stock is currently owned by institutional investors.

Global Net Lease Trading Down 3.5 %

Global Net Lease stock opened at $7.45 on Wednesday. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.06 and a quick ratio of 0.05. The firm’s 50 day moving average price is $8.35 and its 200-day moving average price is $8.00. Global Net Lease, Inc. has a 1 year low of $6.52 and a 1 year high of $10.19. The stock has a market cap of $1.72 billion, a P/E ratio of -7.93, a PEG ratio of 1.04 and a beta of 1.38.

Global Net Lease (NYSE:GNL) last announced its quarterly 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). The company had revenue of $196.56 million during the quarter, compared to analysts’ expectations of $198.76 million. Global Net Lease had a negative return on equity of 7.04% and a negative net margin of 21.37%. During the same quarter in the previous year, the firm earned $0.36 EPS. On average, equities analysts predict that Global Net Lease, Inc. will post 1.27 earnings per share for the current fiscal year.

Global Net Lease Announces Dividend

The company also recently declared 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. This represents a $1.10 dividend on an annualized basis and a yield of 14.77%. The ex-dividend date of this dividend was Friday, October 11th. Global Net Lease’s payout ratio is presently -117.02%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Truist Financial upped 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 report on Wednesday, August 21st. B. Riley dropped their target price on shares of Global Net Lease from $11.00 to $10.00 and set a “buy” rating for the company in a report on Monday, August 12th. Finally, StockNews.com raised Global Net Lease from a “sell” rating to a “hold” rating in a report on Thursday, August 8th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $9.83.

Insider Buying and Selling at Global Net Lease

In other news, major shareholder Nicholas S. Schorsch acquired 100,000 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The shares were acquired at an average cost of $8.40 per share, with a total value of $840,000.00. Following 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.31% of the stock is currently owned by company insiders.

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.