State of Alaska Department of Revenue Buys 2,812 Shares of Global Net Lease, Inc. $GNL

State of Alaska Department of Revenue grew its stake in Global Net Lease, Inc. (NYSE:GNL) by 1.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 209,899 shares of the financial services provider’s stock after acquiring an additional 2,812 shares during the quarter. State of Alaska Department of Revenue owned 0.09% of Global Net Lease worth $1,583,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Arlington Trust Co LLC bought a new stake in shares of Global Net Lease in the 2nd quarter valued at about $32,000. GAMMA Investing LLC increased its stake in shares of Global Net Lease by 100.6% in the 2nd quarter. GAMMA Investing LLC now owns 5,487 shares of the financial services provider’s stock valued at $41,000 after acquiring an additional 2,752 shares during the last quarter. Atlas Private Wealth Advisors bought a new stake in shares of Global Net Lease in the 1st quarter valued at about $85,000. Callan Family Office LLC bought a new stake in shares of Global Net Lease in the 1st quarter valued at about $85,000. Finally, Allworth Financial LP increased its stake in shares of Global Net Lease by 15.8% in the 1st quarter. Allworth Financial LP now owns 11,940 shares of the financial services provider’s stock valued at $89,000 after acquiring an additional 1,626 shares during the last quarter. 61.19% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

Global Net Lease Trading Up 0.7%

NYSE:GNL opened at $8.19 on Friday. The company has a market cap of $1.81 billion, a P/E ratio of -5.68 and a beta of 1.20. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.90. Global Net Lease, Inc. has a twelve month low of $6.51 and a twelve month high of $8.71. The business has a 50 day moving average price of $7.77 and a two-hundred day moving average price of $7.64.

Global Net Lease (NYSE:GNL) last released its quarterly earnings data on Wednesday, August 6th. The financial services provider reported $0.24 EPS for the quarter, beating the consensus estimate of $0.20 by $0.04. The company had revenue of $124.91 million during the quarter, compared to the consensus estimate of $138.38 million. Global Net Lease had a negative return on equity of 9.71% and a negative net margin of 43.75%. As a group, analysts expect that Global Net Lease, Inc. will post 1.26 EPS for the current fiscal year.

Global Net Lease Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 16th. Stockholders 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 9.3%. The ex-dividend date of this dividend is Friday, October 10th. Global Net Lease’s dividend payout ratio is presently -52.78%.

Insider Activity at Global Net Lease

In other news, CEO Edward M. Jr. Weil sold 150,000 shares of the stock in a transaction that occurred 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 completion of the sale, the chief executive officer owned 584,053 shares of the company’s stock, valued at approximately $4,444,643.33. This represents a 20.43% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.37% of the company’s stock.

Global Net Lease 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.