Capital Investment Advisory Services LLC raised its holdings in Global Net Lease Inc (NYSE:GNL) by 15.9% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 14,861 shares of the financial services provider’s stock after acquiring an additional 2,040 shares during the period. Capital Investment Advisory Services LLC’s holdings in Global Net Lease were worth $290,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Sharkey Howes & Javer acquired a new stake in Global Net Lease in the 2nd quarter valued at approximately $25,000. Stonebridge Capital Advisors LLC acquired a new stake in Global Net Lease in the 2nd quarter valued at approximately $36,000. Lucia Wealth Services LLC acquired a new stake in Global Net Lease in the 3rd quarter valued at approximately $38,000. Steward Partners Investment Advisory LLC acquired a new stake in Global Net Lease in the 2nd quarter valued at approximately $41,000. Finally, Coastal Investment Advisors Inc. grew its holdings in Global Net Lease by 23.8% in the 2nd quarter. Coastal Investment Advisors Inc. now owns 3,380 shares of the financial services provider’s stock valued at $67,000 after buying an additional 650 shares during the last quarter. 65.23% of the stock is currently owned by hedge funds and other institutional investors.
GNL has been the topic of a number of research analyst reports. B. Riley set a $24.00 target price on Global Net Lease and gave the company a “buy” rating in a report on Wednesday, August 7th. DA Davidson began coverage on Global Net Lease in a report on Thursday, September 26th. They set a “neutral” rating and a $22.00 price objective on the stock. Finally, Zacks Investment Research lowered Global Net Lease from a “hold” rating to a “sell” rating in a report on Wednesday, August 21st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $23.33.
Global Net Lease (NYSE:GNL) last announced its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $0.15 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.48 by ($0.33). Global Net Lease had a return on equity of 1.48% and a net margin of 7.45%. The firm had revenue of $76.12 million for the quarter, compared to analyst estimates of $76.60 million. On average, sell-side analysts predict that Global Net Lease Inc will post 1.87 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Friday, October 11th were issued a dividend of $0.533 per share. This represents a $2.13 annualized dividend and a dividend yield of 11.12%. The ex-dividend date of this dividend was Thursday, October 10th. Global Net Lease’s payout ratio is presently 99.53%.
About Global Net Lease
Global Net Lease, Inc (NYSE: GNL) is a publicly traded real estate investment trust listed on the NYSE 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.
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