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

Concorde Asset Management LLC increased its position in shares of Global Net Lease, Inc. (NYSE:GNL) by 17.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 67,455 shares of the financial services provider’s stock after buying an additional 10,122 shares during the period. Concorde Asset Management LLC’s holdings in Global Net Lease were worth $568,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in GNL. American Capital Advisory LLC purchased a new position in Global Net Lease in the third quarter valued at about $34,000. Park Place Capital Corp purchased a new stake in shares of Global Net Lease during the third quarter worth about $35,000. GAMMA Investing LLC grew its stake in shares of Global Net Lease by 60.1% during 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 last quarter. Verus Capital Partners LLC purchased a new stake in shares of Global Net Lease during the second quarter worth about $74,000. Finally, KBC Group NV grew its stake 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 acquiring an additional 2,535 shares during the last quarter. Hedge funds and other institutional investors own 61.19% of the company’s stock.

Global Net Lease Trading Down 0.3 %

Global Net Lease stock opened at $7.27 on Friday. The company has a quick ratio of 0.06, a current 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 $10.19. The company has a market capitalization of $1.68 billion, a price-to-earnings ratio of -7.73, a price-to-earnings-growth ratio of 0.96 and a beta of 1.38. The stock has a 50-day moving average price of $8.19 and a 200 day moving average price of $8.01.

Global Net Lease (NYSE:GNL) last announced its quarterly earnings results on Wednesday, November 6th. The financial services provider reported ($0.33) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.65). Global Net Lease had a negative net margin of 21.37% and a negative return on equity of 7.04%. The company had revenue of $196.56 million during the quarter, compared to analyst estimates of $198.76 million. During the same period in the previous year, the firm posted $0.36 earnings per share. Sell-side 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 declared a quarterly dividend, which was paid on Wednesday, October 16th. Shareholders of record on Friday, October 11th were issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 15.13%. The ex-dividend date was Friday, October 11th. Global Net Lease’s payout ratio is presently -117.02%.

Wall Street Analysts Forecast Growth

GNL has been the topic of a number of research analyst reports. B. Riley dropped their price target on 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. StockNews.com raised Global Net Lease from a “sell” rating to a “hold” rating in a report on Thursday, August 8th. Finally, Truist Financial lifted their target price on Global Net Lease from $8.00 to $8.50 and gave the stock a “hold” rating in a report on Wednesday, August 21st. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Global Net Lease has a consensus rating of “Hold” and a consensus target price of $9.83.

Insider Buying and Selling at Global Net Lease

In other Global Net Lease news, major shareholder Nicholas S. Schorsch bought 100,000 shares of Global Net Lease stock in a transaction dated Wednesday, October 2nd. The stock was acquired at an average cost of $8.40 per share, with a total value of $840,000.00. Following the purchase, the insider now directly owns 1,729,073 shares in the company, valued at $14,524,213.20. This represents a 6.14 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 0.31% of the stock is currently owned by corporate 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.