Citigroup Inc. Purchases 266,647 Shares of Global Net Lease, Inc. (NYSE:GNL)

Citigroup Inc. lifted its stake in Global Net Lease, Inc. (NYSE:GNL) by 52.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 771,371 shares of the financial services provider’s stock after acquiring an additional 266,647 shares during the quarter. Citigroup Inc. owned 0.33% of Global Net Lease worth $6,495,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in GNL. American Capital Advisory LLC purchased a new stake in shares of Global Net Lease in the 3rd quarter worth $34,000. Park Place Capital Corp purchased a new position in shares of Global Net Lease in the third quarter valued at about $35,000. GAMMA Investing LLC boosted its stake in shares of Global Net Lease by 60.1% in the third quarter. GAMMA Investing LLC now owns 5,054 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 1,897 shares during the period. Verus Capital Partners LLC bought a new position in shares of Global Net Lease in the second quarter worth about $74,000. Finally, KBC Group NV grew its position in shares of Global Net Lease by 37.4% during the third quarter. KBC Group NV now owns 9,311 shares of the financial services provider’s stock worth $78,000 after purchasing an additional 2,535 shares in the last quarter. 61.19% of the stock is owned by hedge funds and other institutional investors.

Global Net Lease Stock Performance

Shares of GNL opened at $7.41 on Friday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.06 and a current ratio of 0.06. The company has a market capitalization of $1.71 billion, a price-to-earnings ratio of -7.88, a PEG ratio of 0.99 and a beta of 1.38. Global Net Lease, Inc. has a 1 year low of $6.52 and a 1 year high of $10.19. The company’s 50 day simple moving average is $8.00 and its 200 day simple moving average is $8.01.

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. On average, sell-side analysts predict that Global Net Lease, Inc. will post 1.27 EPS for the current year.

Global Net Lease Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 16th. Shareholders 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 14.84%. The ex-dividend date was Friday, October 11th. Global Net Lease’s payout ratio is currently -117.02%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on GNL shares. Truist Financial dropped their target price on Global Net Lease from $8.50 to $8.00 and set a “hold” rating for the company in a report on Friday. StockNews.com upgraded Global Net Lease from a “sell” rating to a “hold” rating in a report on Thursday, August 8th. Finally, B. Riley dropped their target price on shares of Global Net Lease from $11.00 to $10.00 and set a “buy” rating on the stock in a research report on Monday, August 12th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $9.67.

Insider Buying and Selling at Global Net Lease

In other Global Net Lease news, major shareholder Nicholas S. Schorsch acquired 100,000 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The shares were purchased at an average price of $7.72 per share, with a total value of $772,000.00. Following the completion of the transaction, the insider now owns 1,829,073 shares in the company, valued at $14,120,443.56. The trade was a 5.78 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.31% of the stock is owned by corporate 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.