Global Net Lease, Inc. $GNL Stock Bought by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al lifted its holdings in Global Net Lease, Inc. (NYSE:GNL) by 1,897.7% during the third quarter, HoldingsChannel reports. The institutional investor owned 255,700 shares of the financial services provider’s stock after purchasing an additional 242,900 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Global Net Lease were worth $2,112,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Renaissance Technologies LLC grew its position in shares of Global Net Lease by 158.9% during the 1st quarter. Renaissance Technologies LLC now owns 1,366,133 shares of the financial services provider’s stock valued at $12,787,000 after buying an additional 838,500 shares during the last quarter. Ameritas Advisory Services LLC raised its stake in Global Net Lease by 387.9% during the second quarter. Ameritas Advisory Services LLC now owns 84,174 shares of the financial services provider’s stock worth $753,000 after acquiring an additional 66,921 shares during the period. Quantinno Capital Management LP raised its stake in Global Net Lease by 107.9% during the first quarter. Quantinno Capital Management LP now owns 242,224 shares of the financial services provider’s stock worth $2,267,000 after acquiring an additional 125,721 shares during the period. Public Employees Retirement System of Ohio bought a new position in Global Net Lease in the second quarter worth about $1,969,000. Finally, Bank of New York Mellon Corp bought a new position in Global Net Lease in the second quarter worth about $11,232,000. 61.19% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

GNL has been the subject of a number of research reports. Citizens Jmp restated a “market outperform” rating and issued a $10.00 target price on shares of Global Net Lease in a research note on Monday, August 31st. Huntington started coverage on Global Net Lease in a research report on Wednesday, July 15th. They set a “market perform” rating and a $10.00 price target on the stock. Finally, BMO Capital Markets upgraded Global Net Lease from a “market perform” rating to an “outperform” rating and set a $10.00 price target on the stock in a research report on Monday, August 17th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, Global Net Lease presently has an average rating of “Buy” and a consensus target price of $10.25.

Global Net Lease Stock Down 0.8%

Shares of Global Net Lease stock opened at $6.91 on Wednesday. The business’s fifty day moving average price is $8.23 and its two-hundred day moving average price is $9.04. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.16 and a quick ratio of 0.16. The company has a market capitalization of $1.46 billion, a P/E ratio of 7.25 and a beta of 1.09. Global Net Lease, Inc. has a 1-year low of $6.81 and a 1-year high of $10.04.

Global Net Lease (NYSE:GNL) last announced its quarterly earnings results on Wednesday, August 5th. The financial services provider reported ($0.05) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.05). Global Net Lease had a negative return on equity of 1.00% and a negative net margin of 2.94%. The company had revenue of $112.47 million during the quarter, compared to analyst estimates of $109.68 million.

Global Net Lease Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 16th. Investors of record on Monday, October 12th were paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 11.0%. The ex-dividend date was Friday, October 9th. Global Net Lease’s payout ratio is currently -271.43%.

Global Net Lease Company Profile

Global Net Lease, Inc (NYSE:GNL) is a real estate investment trust that owns and manages a diversified portfolio of commercial properties subject to long-term, net leases. Under these arrangements, tenants generally pay property operating expenses such as taxes, insurance and maintenance, which can provide the company with relatively predictable rental income.

The company invests primarily in single-tenant office, industrial and retail properties leased to corporate and other commercial tenants.