Concorde Asset Management LLC Acquires 10,122 Shares of Global Net Lease, Inc. (NYSE:GNL)

Concorde Asset Management LLC grew its holdings in shares of Global Net Lease, Inc. (NYSE:GNL) by 17.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 67,455 shares of the financial services provider’s stock after buying an additional 10,122 shares during the period. Concorde Asset Management LLC’s holdings in Global Net Lease were worth $568,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. American Capital Advisory LLC purchased a new position in shares of Global Net Lease in the 3rd quarter worth about $34,000. Park Place Capital Corp purchased a new position in shares of Global Net Lease in the 3rd quarter worth about $35,000. GAMMA Investing LLC raised its position in shares of Global Net Lease by 60.1% in the 3rd quarter. GAMMA Investing LLC now owns 5,054 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 1,897 shares during the last quarter. KBC Group NV raised its position in shares of Global Net Lease by 37.4% in the 3rd quarter. KBC Group NV now owns 9,311 shares of the financial services provider’s stock worth $78,000 after purchasing an additional 2,535 shares during the last quarter. Finally, Verus Capital Partners LLC purchased a new position in Global Net Lease in the 2nd quarter worth about $74,000. Hedge funds and other institutional investors own 61.19% of the company’s stock.

Insider Buying and Selling

In other Global Net Lease news, major shareholder Nicholas S. Schorsch bought 100,000 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was acquired at an average cost of $7.72 per share, for a total transaction of $772,000.00. Following the completion of the transaction, the insider now owns 1,829,073 shares in the company, valued at $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 at the SEC website. 0.31% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on GNL. StockNews.com raised Global Net Lease from a “sell” rating to a “hold” rating in a research report on Thursday, August 8th. Truist Financial boosted their target price on Global Net Lease from $8.00 to $8.50 and gave the stock a “hold” rating in a research report on Wednesday, August 21st. Finally, B. Riley decreased 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. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $9.83.

Global Net Lease Trading Down 0.3 %

Global Net Lease stock opened at $7.27 on Friday. The firm has a 50 day moving average of $8.19 and a 200 day moving average of $8.01. The firm has a market capitalization of $1.68 billion, a price-to-earnings ratio of -7.73, a P/E/G ratio of 0.96 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. 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 (NYSE:GNL) last posted its earnings results on Wednesday, November 6th. The financial services provider reported ($0.33) earnings per share for the quarter, missing analysts’ consensus estimates 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 net margin of 21.37% and a negative return on equity of 7.04%. During the same period last year, the business posted $0.36 earnings per share. As a group, research analysts predict 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 declared a quarterly dividend, which was paid on Wednesday, October 16th. Investors of record on Friday, October 11th were given a $0.275 dividend. The ex-dividend date of this dividend was Friday, October 11th. This represents a $1.10 dividend on an annualized basis and a yield of 15.13%. Global Net Lease’s dividend payout ratio is presently -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.