B. Riley Wealth Advisors Inc. Reduces Stake in Global Net Lease, Inc. (NYSE:GNL)

B. Riley Wealth Advisors Inc. trimmed its position in Global Net Lease, Inc. (NYSE:GNL - Free Report) by 91.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,661 shares of the financial services provider's stock after selling 138,280 shares during the quarter. B. Riley Wealth Advisors Inc.'s holdings in Global Net Lease were worth $107,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Geode Capital Management LLC grew its position in Global Net Lease by 1.9% during the 3rd quarter. Geode Capital Management LLC now owns 5,093,659 shares of the financial services provider's stock worth $42,897,000 after purchasing an additional 95,769 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Global Net Lease by 4.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,058,850 shares of the financial services provider's stock worth $34,176,000 after buying an additional 166,247 shares during the last quarter. Bank of Montreal Can grew its holdings in Global Net Lease by 12,401.0% during the second quarter. Bank of Montreal Can now owns 3,118,873 shares of the financial services provider's stock worth $22,986,000 after acquiring an additional 3,093,924 shares during the period. Bank of New York Mellon Corp grew its holdings in Global Net Lease by 0.4% during the second quarter. Bank of New York Mellon Corp now owns 1,607,268 shares of the financial services provider's stock worth $11,813,000 after acquiring an additional 6,715 shares during the period. Finally, Advisors Asset Management Inc. lifted its holdings 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 valued at $9,345,000 after acquiring an additional 120,610 shares during the period. Institutional investors and hedge funds own 61.19% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have commented on GNL shares. JMP Securities upgraded Global Net Lease from a "market perform" rating to an "outperform" rating and set a $9.00 price objective on the stock in a research report on Tuesday, December 17th. Truist Financial dropped their price target on shares of Global Net Lease from $8.50 to $8.00 and set a "hold" rating on the stock in a research report on Friday, November 29th. Finally, Citizens Jmp upgraded shares of Global Net Lease from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, December 17th. Three investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $9.50.

Insider Activity

In other Global Net Lease news, major shareholder Nicholas S. Schorsch acquired 100,000 shares of the company's stock in a transaction that occurred on Wednesday, October 2nd. The stock was bought at an average price of $8.40 per share, with a total value of $840,000.00. Following the purchase, the insider now owns 1,729,073 shares in the company, valued at approximately $14,524,213.20. The trade was 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 through the SEC website. Company insiders own 0.31% of the company's stock.

Global Net Lease Price Performance

NYSE GNL traded up $0.03 on Monday, hitting $7.18. The company had a trading volume of 2,614,434 shares, compared to its average volume of 1,482,670. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.06 and a quick ratio of 0.06. The company's fifty day moving average price is $7.58 and its 200-day moving average price is $7.97. The company has a market capitalization of $1.66 billion, a PE ratio of -7.64, a PEG ratio of 0.93 and a beta of 1.34. Global Net Lease, Inc. has a 12-month low of $6.52 and a 12-month high of $10.19.

Global Net Lease (NYSE:GNL - Get Free Report) last released its 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 return on equity of 7.04% and a negative net margin of 21.37%. The company had revenue of $196.56 million for the quarter, compared to analysts' expectations of $198.76 million. During the same period in the prior year, the firm earned $0.36 EPS. As a group, analysts predict that Global Net Lease, Inc. will post 1.27 earnings per share for the current year.

Global Net Lease Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 16th. Shareholders of record on Friday, October 11th were issued a dividend of $0.275 per share. The ex-dividend date was Friday, October 11th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 15.32%. Global Net Lease's payout ratio is currently -117.02%.

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.