Global Net Lease, Inc. (NYSE:GNL) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lessened its stake in shares of Global Net Lease, Inc. (NYSE:GNL) by 3.2% in the third quarter, HoldingsChannel reports. The firm owned 933,118 shares of the financial services provider’s stock after selling 31,225 shares during the quarter. Principal Financial Group Inc.’s holdings in Global Net Lease were worth $7,857,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in GNL. Bank of Montreal Can boosted its position in Global Net Lease by 12,401.0% during the second 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. Advisors Asset Management Inc. increased its position 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 worth $5,430,000 after purchasing an additional 296,124 shares during the last quarter. Private Advisor Group LLC acquired a new position in shares of Global Net Lease in the 3rd quarter valued at $92,000. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Global Net Lease during the 2nd quarter valued at $292,000. Finally, Waterfall Asset Management LLC acquired a new stake in shares of Global Net Lease during the 2nd quarter worth $2,122,000. Institutional investors and hedge funds own 61.19% of the company’s stock.

Global Net Lease Price Performance

Shares of NYSE:GNL opened at $7.31 on Wednesday. The company has a 50 day moving average of $8.21 and a two-hundred day moving average of $8.01. Global Net Lease, Inc. has a 52-week low of $6.52 and a 52-week high of $10.19. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 0.70. The company has a market capitalization of $1.68 billion, a price-to-earnings ratio of -7.77, a price-to-earnings-growth ratio of 0.96 and a beta of 1.38.

Global Net Lease (NYSE:GNL) last issued its quarterly earnings data on Wednesday, November 6th. The financial services provider reported ($0.33) EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.65). The firm had revenue of $196.56 million during the quarter, compared to analyst estimates 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 prior year, the firm earned $0.36 EPS. As a group, analysts forecast that Global Net Lease, Inc. will post 1.27 earnings per share for the current fiscal year.

Global Net Lease Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 16th. Shareholders of record on Friday, October 11th were given a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 15.06%. The ex-dividend date was Friday, October 11th. Global Net Lease’s payout ratio is -117.02%.

Analysts Set New Price Targets

Several equities research analysts have commented on GNL shares. B. Riley dropped their price target on 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. StockNews.com raised shares of Global Net Lease from a “sell” rating to a “hold” rating in a research report on Thursday, August 8th. Finally, 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. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Global Net Lease presently has an average rating of “Hold” and an average price target of $9.83.

Insider Buying and Selling

In other news, major shareholder Nicholas S. Schorsch acquired 100,000 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was purchased at an average cost of $7.72 per share, with a total value of $772,000.00. Following the completion of the acquisition, the insider now directly owns 1,829,073 shares in the company, valued at $14,120,443.56. This represents a 5.78 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.31% of the company’s stock.

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.