Lazari Capital Management Inc. Sells 1,333 Shares of Global Net Lease, Inc. (NYSE:GNL)

Lazari Capital Management Inc. reduced its stake in Global Net Lease, Inc. (NYSE:GNL) by 4.8% in the 3rd quarter, HoldingsChannel reports. The firm owned 26,220 shares of the financial services provider’s stock after selling 1,333 shares during the quarter. Lazari Capital Management Inc.’s holdings in Global Net Lease were worth $221,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Park Place Capital Corp acquired a new stake in shares of Global Net Lease in the 3rd quarter valued at about $35,000. GAMMA Investing LLC boosted its holdings in 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 worth $43,000 after acquiring an additional 1,897 shares in the last quarter. Verus Capital Partners LLC acquired a new stake in Global Net Lease in the second quarter valued at approximately $74,000. Atomi Financial Group Inc. bought a new stake in shares of Global Net Lease during the first quarter valued at approximately $81,000. Finally, Signaturefd LLC raised its position in shares of Global Net Lease by 176.8% during the second quarter. Signaturefd LLC now owns 12,410 shares of the financial services provider’s stock worth $91,000 after purchasing an additional 7,927 shares during the period. Institutional investors and hedge funds own 61.19% of the company’s stock.

Insider Activity

In other Global Net Lease news, major shareholder Nicholas S. Schorsch bought 100,000 shares of the stock in a transaction dated Wednesday, October 2nd. The shares were bought at an average cost of $8.40 per share, for a total transaction of $840,000.00. Following the purchase, the insider now directly owns 1,729,073 shares of the company’s stock, valued at approximately $14,524,213.20. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.31% of the company’s stock.

Global Net Lease Stock Down 0.2 %

GNL opened at $8.10 on Wednesday. Global Net Lease, Inc. has a fifty-two week low of $6.52 and a fifty-two week high of $10.19. The firm has a market capitalization of $1.87 billion, a P/E ratio of -4.45, a PEG ratio of 1.12 and a beta of 1.37. The company’s 50-day moving average is $8.53 and its 200 day moving average is $7.90. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.05 and a quick ratio of 0.05.

Global Net Lease (NYSE:GNL) last posted its earnings results on Tuesday, August 6th. The financial services provider reported ($0.20) EPS for the quarter, missing the consensus estimate of $0.32 by ($0.52). The firm had revenue of $203.29 million for the quarter, compared to the consensus estimate of $204.80 million. Global Net Lease had a negative return on equity of 9.41% and a negative net margin of 33.26%. During the same period in the prior year, the business earned $0.40 EPS. Research analysts expect that Global Net Lease, Inc. will post 1.27 earnings per share for the current fiscal year.

Global Net Lease Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 16th. Shareholders of record on Friday, October 11th were paid a $0.275 dividend. The ex-dividend date was Friday, October 11th. This represents a $1.10 dividend on an annualized basis and a yield of 13.58%. Global Net Lease’s dividend payout ratio (DPR) is presently -60.44%.

Analyst Upgrades and Downgrades

GNL has been the subject of several research reports. B. Riley reduced their price target on shares of 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. StockNews.com upgraded shares of Global Net Lease from a “sell” rating to a “hold” rating in a report on Thursday, August 8th. BMO Capital Markets reissued an “outperform” rating and set a $11.00 target price on shares of Global Net Lease in a research report on Friday, June 28th. Finally, Truist Financial raised their price target on shares of Global Net Lease from $8.00 to $8.50 and gave the company a “hold” rating in a research report on Wednesday, August 21st. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $9.83.

About Global Net Lease

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.