Dynamic Technology Lab Private Ltd Reduces Position in Global Net Lease, Inc. (NYSE:GNL)

Dynamic Technology Lab Private Ltd decreased its holdings in Global Net Lease, Inc. (NYSE:GNL) by 25.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,087 shares of the financial services provider’s stock after selling 7,916 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in Global Net Lease were worth $194,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Daiwa Securities Group Inc. boosted its holdings in Global Net Lease by 8.6% in the 3rd quarter. Daiwa Securities Group Inc. now owns 66,214 shares of the financial services provider’s stock worth $558,000 after buying an additional 5,250 shares during the period. Penserra Capital Management LLC boosted its holdings in shares of Global Net Lease by 22.9% in the third quarter. Penserra Capital Management LLC now owns 131,556 shares of the financial services provider’s stock worth $1,107,000 after acquiring an additional 24,490 shares during the period. Algert Global LLC grew its position in shares of Global Net Lease by 255.4% in the third quarter. Algert Global LLC now owns 277,584 shares of the financial services provider’s stock valued at $2,337,000 after purchasing an additional 199,480 shares in the last quarter. Cerity Partners LLC grew its position in shares of Global Net Lease by 114.8% in the third quarter. Cerity Partners LLC now owns 50,435 shares of the financial services provider’s stock valued at $425,000 after purchasing an additional 26,959 shares in the last quarter. Finally, Citigroup Inc. raised its stake in shares of Global Net Lease by 52.8% during the 3rd quarter. Citigroup Inc. now owns 771,371 shares of the financial services provider’s stock valued at $6,495,000 after purchasing an additional 266,647 shares during the period. Institutional investors own 61.19% of the company’s stock.

Analyst Ratings Changes

GNL has been the subject of a number of recent analyst reports. Truist Financial reduced 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 raised shares of Global Net Lease from a “sell” rating to a “hold” rating in a research note on Thursday, August 8th. Finally, B. Riley lowered 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 note on Monday, August 12th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $9.67.

Insider Buying and Selling at Global Net Lease

In other news, major shareholder Nicholas S. Schorsch acquired 100,000 shares of Global Net Lease stock in a transaction dated Monday, November 11th. The shares were purchased at an average cost of $7.72 per share, for a total transaction of $772,000.00. Following the transaction, the insider now owns 1,829,073 shares of the company’s stock, valued at $14,120,443.56. This trade represents a 5.78 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 0.31% of the company’s stock.

Global Net Lease Stock Down 0.7 %

Shares of NYSE GNL opened at $7.36 on Tuesday. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 0.70. The business has a 50-day moving average of $7.97 and a 200-day moving average of $8.01. The firm has a market capitalization of $1.70 billion, a price-to-earnings ratio of -7.83, a PEG ratio of 0.97 and a beta of 1.38. Global Net Lease, Inc. has a 12 month low of $6.52 and a 12 month high of $10.19.

Global Net Lease (NYSE:GNL) last released its quarterly earnings results 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 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 period in the prior year, the firm earned $0.36 EPS. Sell-side analysts expect that Global Net Lease, Inc. will post 1.27 earnings per share for the current fiscal year.

Global Net Lease Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 16th. Investors of record on Friday, October 11th were paid a $0.275 dividend. The ex-dividend date of this dividend was Friday, October 11th. This represents a $1.10 dividend on an annualized basis and a yield of 14.95%. Global Net Lease’s dividend payout ratio is presently -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.