Algert Global LLC Has $2.34 Million Stock Holdings in Global Net Lease, Inc. (NYSE:GNL)

Algert Global LLC boosted its holdings in Global Net Lease, Inc. (NYSE:GNL - Free Report) by 255.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 277,584 shares of the financial services provider's stock after acquiring an additional 199,480 shares during the quarter. Algert Global LLC owned 0.12% of Global Net Lease worth $2,337,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Bank of Montreal Can boosted its holdings in shares of Global Net Lease by 12,401.0% in the second quarter. Bank of Montreal Can now owns 3,118,873 shares of the financial services provider's stock valued at $22,986,000 after acquiring an additional 3,093,924 shares in the last quarter. Advisors Asset Management Inc. lifted its position in Global Net Lease by 12.2% in the third quarter. Advisors Asset Management Inc. now owns 1,109,842 shares of the financial services provider's stock worth $9,345,000 after purchasing an additional 120,610 shares during the period. Private Advisor Group LLC bought a new position in Global Net Lease during the 3rd quarter valued at $92,000. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Global Net Lease during the 2nd quarter valued at $292,000. Finally, Waterfall Asset Management LLC bought a new stake in shares of Global Net Lease in the 2nd quarter worth $2,122,000. Institutional investors own 61.19% of the company's stock.

Global Net Lease Trading Down 0.7 %

Shares of GNL traded down $0.05 during midday trading on Wednesday, hitting $7.52. The stock had a trading volume of 1,548,915 shares, compared to its average volume of 1,468,196. The business has a 50-day simple moving average of $8.07 and a two-hundred day simple moving average of $8.02. The firm has a market cap of $1.73 billion, a P/E ratio of -8.05, a price-to-earnings-growth ratio of 0.99 and a beta of 1.38. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 0.70. Global Net Lease, Inc. has a fifty-two week low of $6.52 and a fifty-two week high of $10.19.

Global Net Lease (NYSE:GNL - Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The financial services provider reported ($0.33) EPS for the quarter, missing analysts' consensus estimates of $0.32 by ($0.65). Global Net Lease had a negative return on equity of 7.04% and a negative net margin of 21.37%. The firm had revenue of $196.56 million during the quarter, compared to analyst estimates of $198.76 million. During the same period in the prior year, the business posted $0.36 EPS. As a group, equities analysts forecast that Global Net Lease, Inc. will post 1.27 EPS for the current year.

Global Net Lease Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 16th. Stockholders of record on Friday, October 11th were issued a $0.275 dividend. The ex-dividend date was Friday, October 11th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 14.63%. Global Net Lease's dividend payout ratio is -117.02%.

Insider Transactions at Global Net Lease

In related news, major shareholder Nicholas S. Schorsch purchased 100,000 shares of the company's stock in a transaction dated Monday, November 11th. The shares were acquired at an average cost of $7.72 per share, with a total value of $772,000.00. Following the completion of the purchase, the insider now owns 1,829,073 shares of the company's stock, valued at $14,120,443.56. The trade was a 5.78 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.31% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. StockNews.com upgraded shares of Global Net Lease from a "sell" rating to a "hold" rating in a research report on Thursday, August 8th. Truist Financial increased their target price on shares of Global Net Lease from $8.00 to $8.50 and gave the company a "hold" rating in a research note on Wednesday, August 21st. Finally, B. Riley decreased their price target on shares of Global Net Lease from $11.00 to $10.00 and set a "buy" rating on the stock in a research report on Monday, August 12th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $9.83.

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.