Mutual of America Capital Management LLC Trims Stake in Global Net Lease, Inc. (NYSE:GNL)

Mutual of America Capital Management LLC lessened its position in shares of Global Net Lease, Inc. (NYSE:GNL) by 7.3% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 29,764 shares of the financial services provider’s stock after selling 2,351 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Global Net Lease were worth $251,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in GNL. Sunbelt Securities Inc. boosted its holdings in shares of Global Net Lease by 10.3% in the second quarter. Sunbelt Securities Inc. now owns 14,449 shares of the financial services provider’s stock valued at $106,000 after acquiring an additional 1,351 shares during the period. Louisiana State Employees Retirement System boosted its stake in Global Net Lease by 1.7% during the 2nd quarter. Louisiana State Employees Retirement System now owns 98,300 shares of the financial services provider’s stock worth $723,000 after purchasing an additional 1,600 shares during the period. Arkadios Wealth Advisors grew its position in Global Net Lease by 3.2% during the 2nd quarter. Arkadios Wealth Advisors now owns 58,017 shares of the financial services provider’s stock worth $426,000 after purchasing an additional 1,789 shares during the last quarter. Cobblestone Asset Management LLC increased its stake in Global Net Lease by 4.2% in the third quarter. Cobblestone Asset Management LLC now owns 44,537 shares of the financial services provider’s stock valued at $375,000 after purchasing an additional 1,804 shares during the period. Finally, GAMMA Investing LLC raised its holdings in shares of Global Net Lease by 60.1% in the third quarter. GAMMA Investing LLC now owns 5,054 shares of the financial services provider’s stock valued at $43,000 after buying an additional 1,897 shares during the last quarter. Institutional investors and hedge funds own 61.19% of the company’s stock.

Analyst Ratings Changes

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

Insider Buying and Selling at Global Net Lease

In other news, major shareholder Nicholas S. Schorsch bought 100,000 shares of the stock in a transaction on Monday, November 11th. The shares were bought at an average price of $7.72 per share, with a total value of $772,000.00. Following the completion of the acquisition, the insider now owns 1,829,073 shares of the company’s stock, valued at approximately $14,120,443.56. This trade represents a 5.78 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.31% of the stock is currently owned by corporate insiders.

Global Net Lease Stock Performance

NYSE GNL opened at $7.52 on Friday. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 0.70. The business’s 50 day moving average is $8.05 and its two-hundred day moving average is $8.01. The stock has a market capitalization of $1.73 billion, a price-to-earnings ratio of -8.00, a PEG ratio of 0.99 and a beta of 1.38. 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) last released its quarterly earnings data on Wednesday, November 6th. The financial services provider reported ($0.33) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.65). The business had revenue of $196.56 million during the quarter, compared to analysts’ expectations of $198.76 million. Global Net Lease had a negative return on equity of 7.04% and a negative net margin of 21.37%. During the same quarter in the previous year, the company posted $0.36 EPS. Research analysts expect that Global Net Lease, Inc. will post 1.27 EPS for the current year.

Global Net Lease Dividend Announcement

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

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.