Public Employees Retirement System of Ohio Sells 5,387 Shares of Global Net Lease, Inc. $GNL

Public Employees Retirement System of Ohio reduced its position in shares of Global Net Lease, Inc. (NYSE:GNL) by 1.9% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 276,754 shares of the financial services provider’s stock after selling 5,387 shares during the quarter. Public Employees Retirement System of Ohio owned 0.12% of Global Net Lease worth $2,089,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Arlington Trust Co LLC bought a new position in Global Net Lease in the 2nd quarter worth approximately $32,000. GAMMA Investing LLC raised its holdings in Global Net Lease by 100.6% during the 2nd quarter. GAMMA Investing LLC now owns 5,487 shares of the financial services provider’s stock valued at $41,000 after buying an additional 2,752 shares during the period. Atlas Private Wealth Advisors bought a new position in Global Net Lease in the 1st quarter valued at $85,000. Callan Family Office LLC bought a new position in Global Net Lease in the 1st quarter valued at $85,000. Finally, Jefferies Financial Group Inc. bought a new position in shares of Global Net Lease during the 1st quarter worth $93,000. 61.19% of the stock is currently owned by institutional investors.

Global Net Lease Stock Performance

NYSE GNL opened at $8.13 on Friday. The stock’s fifty day moving average is $7.75 and its two-hundred day moving average is $7.64. The firm has a market capitalization of $1.80 billion, a P/E ratio of -5.64 and a beta of 1.20. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.13 and a current ratio of 0.13. Global Net Lease, Inc. has a fifty-two week low of $6.51 and a fifty-two week high of $8.71.

Global Net Lease (NYSE:GNL) last released its quarterly earnings data on Wednesday, August 6th. The financial services provider reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.04. Global Net Lease had a negative return on equity of 9.71% and a negative net margin of 43.75%.The company had revenue of $124.91 million for the quarter, compared to analyst estimates of $138.38 million. On average, research analysts anticipate that Global Net Lease, Inc. will post 1.26 earnings per share for the current year.

Global Net Lease Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 16th. Investors of record on Monday, October 13th will be issued a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 9.4%. The ex-dividend date is Friday, October 10th. Global Net Lease’s payout ratio is currently -52.78%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. KeyCorp raised Global Net Lease from a “sector weight” rating to an “overweight” rating and set a $9.00 price target on the stock in a research report on Tuesday, August 19th. Colliers Securities upgraded Global Net Lease from a “neutral” rating to a “buy” rating and set a $12.00 price target for the company in a research note on Thursday, August 7th. JMP Securities restated a “market outperform” rating and issued a $9.00 price objective on shares of Global Net Lease in a research note on Thursday, June 12th. Finally, Wall Street Zen upgraded Global Net Lease from a “sell” rating to a “hold” rating in a research report on Friday, August 22nd. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $9.20.

Insider Activity

In related news, CEO Edward M. Jr. Weil sold 150,000 shares of the business’s stock in a transaction on Thursday, July 10th. The stock was sold at an average price of $7.61, for a total value of $1,141,500.00. Following the sale, the chief executive officer owned 584,053 shares in the company, valued at approximately $4,444,643.33. The trade was a 20.43% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.37% of the company’s stock.

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.