71,216 Shares in Global Net Lease, Inc. (NYSE:GNL) Purchased by Teacher Retirement System of Texas

Teacher Retirement System of Texas purchased a new stake in shares of Global Net Lease, Inc. (NYSE:GNL) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 71,216 shares of the financial services provider’s stock, valued at approximately $573,000.

A number of other large investors also recently bought and sold shares of GNL. Helix Partners Management LP purchased a new position in shares of Global Net Lease during the 4th quarter valued at approximately $24,455,000. Taconic Capital Advisors LP acquired a new position in Global Net Lease during the fourth quarter worth $7,300,000. JPMorgan Chase & Co. lifted its holdings in Global Net Lease by 107.3% during the fourth quarter. JPMorgan Chase & Co. now owns 1,269,118 shares of the financial services provider’s stock valued at $9,265,000 after purchasing an additional 656,890 shares in the last quarter. Marshall Wace LLP acquired a new stake in shares of Global Net Lease in the fourth quarter valued at about $4,021,000. Finally, Northern Trust Corp increased its stake in shares of Global Net Lease by 26.3% during the fourth quarter. Northern Trust Corp now owns 2,612,357 shares of the financial services provider’s stock worth $19,070,000 after purchasing an additional 544,719 shares in the last quarter. 61.19% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Global Net Lease

In related news, insider Nicholas S. Schorsch sold 300,000 shares of the company’s stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $7.33, for a total value of $2,199,000.00. Following the completion of the sale, the insider owned 19,607,384 shares of the company’s stock, valued at approximately $143,722,124.72. This represents a 1.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Edward M. Jr. Weil sold 150,000 shares of the firm’s stock in a transaction dated Thursday, July 10th. The stock was sold at an average price of $7.61, for a total transaction of $1,141,500.00. Following the sale, the chief executive officer owned 584,053 shares of the company’s stock, valued at approximately $4,444,643.33. The trade was a 20.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,653,000 shares of company stock valued at $56,914,790. 0.37% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

GNL has been the topic of a number of research reports. JMP Securities reaffirmed a “market outperform” rating and issued a $9.00 price target on shares of Global Net Lease in a research note on Thursday, June 12th. B. Riley assumed coverage on Global Net Lease in a report on Tuesday, April 22nd. They set a “neutral” rating and a $8.00 target price for the company. Three analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $8.33.

Global Net Lease Price Performance

Shares of NYSE GNL opened at $7.20 on Thursday. The firm has a 50-day simple moving average of $7.64 and a 200-day simple moving average of $7.53. The stock has a market capitalization of $1.65 billion, a price-to-earnings ratio of -4.86 and a beta of 1.19. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 0.76. Global Net Lease, Inc. has a 52 week low of $6.51 and a 52 week high of $9.11.

Global Net Lease (NYSE:GNL) last released its earnings results on Wednesday, May 7th. The financial services provider reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.06. The business had revenue of $132.42 million for the quarter, compared to analyst estimates of $187.40 million. Global Net Lease had a negative net margin of 40.64% and a negative return on equity of 9.23%. On average, equities analysts predict that Global Net Lease, Inc. will post 1.26 earnings per share for the current fiscal year.

Global Net Lease Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 16th. Shareholders of record on Friday, July 11th were issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 10.56%. The ex-dividend date of this dividend was Friday, July 11th. Global Net Lease’s payout ratio is currently -51.35%.

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.