Global Net Lease, Inc. (NYSE:GNL) Shares Sold by B. Riley Wealth Advisors Inc.

B. Riley Wealth Advisors Inc. reduced its stake in Global Net Lease, Inc. (NYSE:GNL) by 91.6% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,661 shares of the financial services provider’s stock after selling 138,280 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Global Net Lease were worth $107,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Global Net Lease by 392.8% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,048,596 shares of the financial services provider’s stock worth $8,829,000 after purchasing an additional 835,830 shares during the last quarter. Bank of Montreal Can grew its stake in shares of Global Net Lease by 12,401.0% in the 2nd quarter. Bank of Montreal Can now owns 3,118,873 shares of the financial services provider’s stock valued at $22,986,000 after buying an additional 3,093,924 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Global Net Lease by 4.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,058,850 shares of the financial services provider’s stock worth $34,176,000 after buying an additional 166,247 shares during the last quarter. Advisors Asset Management Inc. raised its position in shares of Global Net Lease by 12.2% during the 3rd quarter. Advisors Asset Management Inc. now owns 1,109,842 shares of the financial services provider’s stock valued at $9,345,000 after buying an additional 120,610 shares during the period. Finally, Private Advisor Group LLC purchased a new stake in shares of Global Net Lease during the 3rd quarter valued at approximately $92,000. Hedge funds and other institutional investors own 61.19% of the company’s stock.

Insider Activity at Global Net Lease

In other news, major shareholder Nicholas S. Schorsch bought 100,000 shares of Global Net Lease stock in a transaction that occurred on Wednesday, October 2nd. The shares were purchased at an average price of $8.40 per share, with a total value of $840,000.00. Following the completion of the acquisition, the insider now directly owns 1,729,073 shares in the company, valued at $14,524,213.20. The trade was a 6.14 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.31% of the stock is currently owned by company insiders.

Global Net Lease Stock Performance

NYSE GNL opened at $7.15 on Monday. The company has a market cap of $1.65 billion, a P/E ratio of -7.61, a P/E/G ratio of 0.93 and a beta of 1.34. Global Net Lease, Inc. has a 1-year low of $6.52 and a 1-year high of $10.19. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.06 and a quick ratio of 0.06. The stock has a 50-day moving average of $7.60 and a two-hundred day moving average of $7.97.

Global Net Lease (NYSE:GNL) last announced its earnings results on Wednesday, November 6th. The financial services provider reported ($0.33) earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.65). Global Net Lease had a negative return on equity of 7.04% and a negative net margin of 21.37%. The business had revenue of $196.56 million for the quarter, compared to analysts’ expectations of $198.76 million. During the same period in the previous year, the company earned $0.36 earnings per share. As a group, analysts anticipate that Global Net Lease, Inc. will post 1.27 EPS for the current year.

Global Net Lease Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 16th. Investors of record on Friday, October 11th were issued 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 15.38%. Global Net Lease’s dividend payout ratio (DPR) is presently -117.02%.

Wall Street Analyst Weigh In

GNL has been the topic of a number of research analyst reports. Truist Financial reduced their target price on Global Net Lease from $8.50 to $8.00 and set a “hold” rating on the stock in a research report on Friday, November 29th. Citizens Jmp upgraded shares of Global Net Lease from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 17th. Finally, JMP Securities raised shares of Global Net Lease from a “market perform” rating to an “outperform” rating and set a $9.00 target price for the company in a research note on Tuesday, December 17th. Three equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $9.50.

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.