Public Sector Pension Investment Board Grows Position in Global Net Lease, Inc. (NYSE:GNL)

Public Sector Pension Investment Board increased its holdings in shares of Global Net Lease, Inc. (NYSE:GNL) by 7.4% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 429,875 shares of the financial services provider’s stock after purchasing an additional 29,553 shares during the quarter. Public Sector Pension Investment Board owned 0.19% of Global Net Lease worth $3,160,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of GNL. Scarborough Advisors LLC acquired a new stake in shares of Global Net Lease in the fourth quarter worth $25,000. Verus Capital Partners LLC acquired a new stake in Global Net Lease in the 2nd quarter valued at $74,000. Atomi Financial Group Inc. purchased a new position in Global Net Lease in the first quarter valued at about $81,000. Signaturefd LLC lifted its stake in shares of Global Net Lease by 176.8% during the second quarter. Signaturefd LLC now owns 12,410 shares of the financial services provider’s stock worth $91,000 after purchasing an additional 7,927 shares in the last quarter. Finally, Capital Market Strategies LLC boosted its position in shares of Global Net Lease by 14.6% in the second quarter. Capital Market Strategies LLC now owns 15,694 shares of the financial services provider’s stock worth $115,000 after buying an additional 2,000 shares during the period. Hedge funds and other institutional investors own 61.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on GNL shares. BMO Capital Markets reissued an “outperform” rating and set a $11.00 price target on shares of Global Net Lease in a research report on Friday, June 28th. StockNews.com raised shares of Global Net Lease from a “sell” rating to a “hold” rating in a report on Thursday, August 8th. B. Riley cut their price objective on shares of Global Net Lease from $11.00 to $10.00 and set a “buy” rating on the stock in a report on Monday, August 12th. JMP Securities restated a “market perform” rating on shares of Global Net Lease in a research note on Wednesday, June 12th. Finally, Truist Financial boosted their price target on Global Net Lease from $8.00 to $8.50 and gave the stock a “hold” rating in a research note on Wednesday, August 21st. Four investment 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 presently has an average rating of “Hold” and an average target price of $9.83.

Global Net Lease Price Performance

Shares of GNL stock opened at $8.54 on Friday. The firm has a fifty day moving average of $8.55 and a two-hundred day moving average of $7.79. The firm has a market cap of $1.97 billion, a P/E ratio of -4.69, a P/E/G ratio of 1.15 and a beta of 1.38. Global Net Lease, Inc. has a 1-year low of $6.52 and a 1-year high of $10.19. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.05 and a quick ratio of 0.05.

Global Net Lease (NYSE:GNL) last announced its quarterly earnings data on Tuesday, August 6th. 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 33.26% and a negative return on equity of 9.41%. The firm had revenue of $203.29 million during the quarter, compared to the consensus estimate of $204.80 million. During the same period in the prior year, the firm earned $0.40 earnings per share. As a group, research analysts anticipate that Global Net Lease, Inc. will post 1.27 earnings per share for the current fiscal year.

Global Net Lease Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 16th. Shareholders of record on Thursday, July 11th were issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 12.88%. The ex-dividend date of this dividend was Thursday, July 11th. This is an increase from Global Net Lease’s previous quarterly dividend of $0.06. Global Net Lease’s payout ratio is currently -60.44%.

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.