Cobblestone Asset Management LLC Boosts Stake in Global Net Lease, Inc. (NYSE:GNL)

Cobblestone Asset Management LLC boosted its holdings in Global Net Lease, Inc. (NYSE:GNL) by 4.2% during the third quarter, Holdings Channel.com reports. The fund owned 44,537 shares of the financial services provider’s stock after buying an additional 1,804 shares during the quarter. Cobblestone Asset Management LLC’s holdings in Global Net Lease were worth $375,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Park Place Capital Corp purchased a new stake in Global Net Lease during the third quarter valued at about $35,000. GAMMA Investing LLC raised its holdings in shares of Global Net Lease by 60.1% during the 3rd quarter. GAMMA Investing LLC now owns 5,054 shares of the financial services provider’s stock valued at $43,000 after buying an additional 1,897 shares in the last quarter. Verus Capital Partners LLC bought a new stake in Global Net Lease in the 2nd quarter worth approximately $74,000. Atomi Financial Group Inc. purchased a new stake in Global Net Lease in the first quarter worth approximately $81,000. Finally, Signaturefd LLC grew its position in Global Net Lease by 176.8% during the second quarter. Signaturefd LLC now owns 12,410 shares of the financial services provider’s stock valued at $91,000 after acquiring an additional 7,927 shares during the last quarter. Hedge funds and other institutional investors own 61.19% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on GNL. B. Riley lowered their price objective 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. Truist Financial upped their price target on shares of Global Net Lease from $8.00 to $8.50 and gave the company a “hold” rating in a research report on Wednesday, August 21st. BMO Capital Markets reissued an “outperform” rating and issued a $11.00 target price on shares of Global Net Lease in a research note on Friday, June 28th. Finally, StockNews.com upgraded Global Net Lease from a “sell” rating to a “hold” rating in a report on Thursday, August 8th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $9.83.

Insider Activity at Global Net Lease

In related news, major shareholder Nicholas S. Schorsch acquired 100,000 shares of the stock in a transaction on Wednesday, October 2nd. The stock was acquired at an average cost of $8.40 per share, for a total transaction of $840,000.00. Following the completion of the acquisition, the insider now directly owns 1,729,073 shares of the company’s stock, valued at approximately $14,524,213.20. This represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.31% of the stock is owned by corporate insiders.

Global Net Lease Stock Performance

Shares of NYSE:GNL opened at $8.41 on Friday. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.72. The company has a 50-day moving average price of $8.52 and a 200-day moving average price of $7.88. The company has a market cap of $1.94 billion, a price-to-earnings ratio of -4.62, a price-to-earnings-growth ratio of 1.12 and a beta of 1.37. 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 issued its quarterly earnings data on Tuesday, August 6th. The financial services provider reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.52). The business had revenue of $203.29 million during the quarter, compared to the consensus estimate of $204.80 million. Global Net Lease had a negative return on equity of 9.41% and a negative net margin of 33.26%. During the same quarter in the prior year, the business posted $0.40 earnings per share. As a group, equities analysts anticipate that Global Net Lease, Inc. will post 1.27 EPS for the current year.

Global Net Lease Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 16th. Stockholders 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 dividend yield of 13.08%. The ex-dividend date of this dividend was Friday, October 11th. Global Net Lease’s payout ratio is -60.44%.

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.