Gagnon Securities LLC Lowers Stock Position in Global Net Lease, Inc. (NYSE:GNL)

Gagnon Securities LLC cut its position in shares of Global Net Lease, Inc. (NYSE:GNL) by 4.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 105,073 shares of the financial services provider’s stock after selling 5,252 shares during the period. Gagnon Securities LLC’s holdings in Global Net Lease were worth $767,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Global Net Lease by 392.8% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,048,596 shares of the financial services provider’s stock worth $8,829,000 after buying an additional 835,830 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Global Net Lease by 4.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,058,850 shares of the financial services provider’s stock worth $34,176,000 after acquiring an additional 166,247 shares during the period. Geode Capital Management LLC raised its position in Global Net Lease by 1.9% during the third quarter. Geode Capital Management LLC now owns 5,093,659 shares of the financial services provider’s stock worth $42,897,000 after acquiring an additional 95,769 shares during the period. JPMorgan Chase & Co. raised its position in Global Net Lease by 31.8% during the third quarter. JPMorgan Chase & Co. now owns 612,228 shares of the financial services provider’s stock worth $5,155,000 after acquiring an additional 147,803 shares during the period. Finally, Advisors Asset Management Inc. raised its position in Global Net Lease by 12.2% during the third quarter. Advisors Asset Management Inc. now owns 1,109,842 shares of the financial services provider’s stock worth $9,345,000 after acquiring an additional 120,610 shares during the period. 61.19% of the stock is owned by hedge funds and other institutional investors.

Global Net Lease Price Performance

Shares of NYSE GNL opened at $7.19 on Friday. The firm has a 50-day simple moving average of $7.25 and a 200-day simple moving average of $7.94. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 0.70. Global Net Lease, Inc. has a 52 week low of $6.52 and a 52 week high of $9.10.

Global Net Lease (NYSE:GNL) last released its quarterly earnings data 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 return on equity of 7.04% and a negative net margin of 21.37%. The firm had revenue of $196.56 million for the quarter, compared to analyst estimates of $198.76 million. During the same quarter in the previous year, the business posted $0.36 earnings per share. Equities research analysts predict that Global Net Lease, Inc. will post 1.26 EPS for the current year.

Global Net Lease Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 16th. Investors of record on Monday, January 13th were given a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 15.31%. The ex-dividend date was Monday, January 13th. Global Net Lease’s payout ratio is currently -117.02%.

Analyst Ratings Changes

A number of research firms have weighed in on GNL. Truist Financial reduced their price objective on shares of Global Net Lease from $8.50 to $8.00 and set a “hold” rating for the company in a research report on Friday, November 29th. Citizens Jmp upgraded shares of Global Net Lease from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 17th. Finally, JMP Securities upgraded shares of Global Net Lease from a “market perform” rating to an “outperform” rating and set a $9.00 price objective for the company in a research report on Tuesday, December 17th. Three research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $9.50.

Insider Buying and Selling

In related news, major shareholder Nicholas S. Schorsch bought 100,000 shares of the stock in a transaction on Monday, November 11th. The stock was bought at an average price of $7.72 per share, with a total value of $772,000.00. Following the completion of the purchase, 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 position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.31% of the stock is owned by company insiders.

Global Net Lease Company 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.