Edgestream Partners L.P. Sells 744,278 Shares of Global Net Lease, Inc. (NYSE:GNL)

Edgestream Partners L.P. reduced its stake in Global Net Lease, Inc. (NYSE:GNL - Free Report) by 96.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 28,201 shares of the financial services provider's stock after selling 744,278 shares during the quarter. Edgestream Partners L.P.'s holdings in Global Net Lease were worth $237,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD lifted its holdings in Global Net Lease by 6.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 116,384 shares of the financial services provider's stock valued at $905,000 after purchasing an additional 7,152 shares in the last quarter. Cetera Advisors LLC boosted its holdings in Global Net Lease by 130.6% in the 1st quarter. Cetera Advisors LLC now owns 57,315 shares of the financial services provider's stock worth $445,000 after buying an additional 32,457 shares during the period. CWM LLC increased its stake in Global Net Lease by 23.6% in the 2nd quarter. CWM LLC now owns 23,183 shares of the financial services provider's stock worth $170,000 after buying an additional 4,423 shares in the last quarter. Wealth Enhancement Advisory Services LLC bought a new stake in Global Net Lease during the second quarter valued at about $292,000. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its holdings in Global Net Lease by 2.1% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 221,421 shares of the financial services provider's stock valued at $1,627,000 after acquiring an additional 4,453 shares during the period. 61.19% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, major shareholder Nicholas S. Schorsch acquired 100,000 shares of the firm's stock in a transaction on Wednesday, October 2nd. The stock was acquired at an average price of $8.40 per share, with a total value of $840,000.00. Following the completion of the purchase, the insider now directly owns 1,729,073 shares in the company, valued at approximately $14,524,213.20. This trade represents a 6.14 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.31% of the company's stock.

Global Net Lease Price Performance

Global Net Lease stock traded down $0.03 during mid-day trading on Friday, reaching $7.14. 1,128,950 shares of the company's stock traded hands, compared to its average volume of 1,174,500. Global Net Lease, Inc. has a 12-month low of $6.52 and a 12-month high of $10.19. The company has a market cap of $1.65 billion, a price-to-earnings ratio of -7.60, a PEG ratio of 0.95 and a beta of 1.34. The stock has a 50 day moving average of $7.86 and a two-hundred day moving average of $7.99. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 0.70.

Global Net Lease (NYSE:GNL - Get Free Report) last announced its quarterly earnings results 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 net margin of 21.37% and a negative return on equity of 7.04%. The business had revenue of $196.56 million during the quarter, compared to the consensus estimate of $198.76 million. During the same period in the previous year, the business posted $0.36 EPS. Equities analysts forecast that Global Net Lease, Inc. will post 1.27 earnings per share for the current year.

Global Net Lease Announces Dividend

The business 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. This represents a $1.10 dividend on an annualized basis and a dividend yield of 15.41%. The ex-dividend date was Friday, October 11th. Global Net Lease's dividend payout ratio (DPR) is -117.02%.

Analysts Set New Price Targets

Several research firms recently issued reports on GNL. B. Riley cut their target price on Global Net Lease from $11.00 to $10.00 and set a "buy" rating for the company in a research report on Monday, August 12th. Truist Financial cut their price objective on shares of Global Net Lease from $8.50 to $8.00 and set a "hold" rating for the company in a report on Friday, November 29th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $9.67.

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.