California State Teachers Retirement System reduced its holdings in shares of Global Net Lease, Inc. (NYSE:GNL – Free Report) by 6.2% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 195,662 shares of the financial services provider after selling 12,940 shares during the same period. According to its most recent filing with the SEC, California State Teachers Retirement System owned about 0.08% of Global Net Lease worth $1,520,000.
A number of other institutional investors have also recently changed their holdings in GNL. Scarborough Advisors LLC acquired a new position in shares of Global Net Lease in the 4th quarter valued at $25,000. GAMMA Investing LLC acquired a new position in Global Net Lease in the 4th quarter valued at about $62,000. Atomi Financial Group Inc. acquired a new position in Global Net Lease in the 1st quarter valued at about $81,000. Principal Securities Inc. acquired a new position in Global Net Lease in the 4th quarter valued at about $86,000. Finally, Journey Strategic Wealth LLC acquired a new position in Global Net Lease in the 4th quarter valued at about $106,000. Institutional investors and hedge funds own 61.19% of the company’s shares.
Insider activities at Global Net Lease
In related news, major shareholder Nicholas S. Schorsch sold 159,720 shares of the company’s stock in a transaction that occurred on Thursday, June 13. The shares were sold at an average price of $7.32, for a total transaction of $1,169,150.40. After the sale, the insider now owns 3,546,752 shares of the company’s stock, valued at approximately $25,962,224.64. The sale was disclosed in a filing with the SEC, which is available through the SEC’s website. In related news, major shareholder Nicholas S. Schorsch sold 200,000 shares of the company’s stock in a transaction that occurred on Monday, June 17. The shares were sold at an average price of $7.16, for a total transaction of $1,432,000.00. Following the transaction, the insider now directly owns 3,201,694 shares of the company’s stock, valued at approximately $22,924,129.04. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, major shareholder Nicholas S. Schorsch sold 159,720 shares of the company’s stock in a transaction that occurred on Thursday, June 13. The shares were sold at an average price of $7.32, for a total value of $1,169,150.40. Following the transaction, the insider now directly owns 3,546,752 shares of the company’s stock, valued at $25,962,224.64. The disclosure of this sale can be found here. Insiders have sold a total of 1,043,070 shares of the company’s stock in the last 90 days, valued at $7,497,437. Company insiders own 0.31% of the company’s stock.
Global net leasing trade down 1.3%
NYSE GNL opened at $8.06 on Monday. Global Net Lease, Inc. has a 12-month low of $6.52 and a 12-month high of $11.58. The company has a liquidity ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.70. The company’s 50-day moving average price is $7.82 and its 200-day moving average price is $7.63. The company has a market cap of $1.86 billion, a P/E ratio of -4.43, a price-to-earnings-growth ratio of 1.11 and a beta of 1.37.
Global Net Lease (NYSE:GNL – Get Free Report) last announced its earnings results on Tuesday, August 6. The financial services provider reported ($0.20) earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.52). Global Net Lease had a negative net margin of 37.46% and a negative return on equity of 10.08%. The company had revenue of $203.29 million for the quarter, compared to the consensus estimate of $204.80 million. During the same quarter last year, the company posted earnings per share (EPS) of $0.40. On average, analysts expect that Global Net Lease, Inc. will report earnings per share of $1.29 for the current year.
Global Net Lease increases dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, July 16. Investors of record on Thursday, July 11 were given a dividend of $0.275 per share. This represents a positive change from Global Net Lease’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend was Thursday, July 11. This represents an annualized dividend of $1.10 and a dividend yield of 13.65%. Global Net Lease’s dividend payout ratio is currently -60.44%.
Upgrades and downgrades by analysts
Several equities analysts have issued reports on GNL stock. JMP Securities reiterated a “market perform” rating on shares of Global Net Lease in a report on Wednesday, June 12. BMO Capital Markets reiterated an “outperform” rating and issued a $11.00 price target on shares of Global Net Lease in a report on Friday, June 28. Finally, StockNews.com upgraded Global Net Lease from a “sell” rating to a “hold” rating in a report on Thursday. Four investment analysts have rated the stock with a “hold” rating and one has assigned the company a “buy” rating. Based on data from MarketBeat.com, Global Net Lease currently has an average rating of “Hold” and a consensus price target of $11.00.
Check out our latest stock report on GNL
About Global Net Lease
(Free report)
Global Net Lease, Inc. (NYSE: GNL) is a publicly traded and NYSE-listed real estate investment trust focused on acquiring a diversified global portfolio of commercial real estate with a focus on single-tenant sale-leaseback transactions and income-producing net lease properties in the United States and Western and Northern Europe.
More information
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