Geode Capital Management LLC Cuts Stock Holdings in Global Net Lease, Inc. $GNL

Geode Capital Management LLC decreased its stake in Global Net Lease, Inc. (NYSE:GNL) by 1.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,153,702 shares of the financial services provider’s stock after selling 88,630 shares during the period. Geode Capital Management LLC owned about 2.25% of Global Net Lease worth $38,915,000 at the end of the most recent quarter.

Other large investors 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 worth approximately $32,000. GAMMA Investing LLC boosted its stake in shares of 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 purchasing an additional 2,752 shares in the last quarter. AlphaQuest LLC bought a new position in shares of Global Net Lease in the 2nd quarter worth approximately $59,000. Lee Johnson Capital Management LLC purchased a new position in Global Net Lease during the second quarter valued at $83,000. Finally, Callan Family Office LLC bought a new stake in Global Net Lease during the first quarter worth about $85,000. 61.19% of the stock is owned by hedge funds and other institutional investors.

Global Net Lease Price Performance

Global Net Lease stock opened at $8.26 on Thursday. The company has a quick ratio of 0.15, a current ratio of 0.15 and a debt-to-equity ratio of 0.93. Global Net Lease, Inc. has a 52-week low of $6.51 and a 52-week high of $8.38. The firm’s fifty day moving average is $7.89 and its 200 day moving average is $7.70. The company has a market cap of $1.81 billion, a price-to-earnings ratio of -5.77 and a beta of 1.19.

Global Net Lease (NYSE:GNL) last issued its quarterly earnings data on Wednesday, November 5th. The financial services provider reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.03. The company had revenue of $121.01 million for the quarter, compared to analysts’ expectations of $118.86 million. Global Net Lease had a negative return on equity of 10.27% and a negative net margin of 48.52%. Global Net Lease has set its FY 2025 guidance at 0.950-0.970 EPS. Sell-side analysts forecast that Global Net Lease, Inc. will post 1.26 EPS for the current fiscal year.

Global Net Lease Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 16th. Investors of record on Monday, October 13th were given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 9.2%. The ex-dividend date of this dividend was Friday, October 10th. Global Net Lease’s dividend payout ratio is -53.15%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on GNL. 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 report on Thursday, August 7th. Wall Street Zen cut Global Net Lease from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. Finally, KeyCorp raised shares of Global Net Lease from a “sector weight” rating to an “overweight” rating and set a $9.00 price objective for the company in a research report on Tuesday, August 19th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $9.20.

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.