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

Key Points

• Virginia Retirement Systems ET Al increased its Global Net Lease stake by 1,897.7% in the third quarter, adding 242,900 shares to reach 255,700 shares, valued at about $2.1 million. Institutional investors and hedge funds own 61.19% of the stock.
• Global Net Lease shares opened at $6.91, near their 52-week low of $6.81. The company reported quarterly revenue of $112.47 million, above analysts’ $109.68 million estimate, while EPS matched expectations at a loss of $0.05.
• The REIT declared a quarterly dividend of $0.19 per share, equivalent to an annualized yield of 11.0%. Analysts’ consensus rating was “Buy,” with a consensus price target of $10.25.

VIRGINIA RETIREMENT SYSTEMS ET Al raised its position in Global Net Lease, Inc. (NYSE:GNL - Free Report) by 1,897.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 255,700 shares of the financial services provider's stock after buying an additional 242,900 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al owned approximately 0.12% of Global Net Lease worth $2,112,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Hsbc Holdings PLC increased its position in shares of Global Net Lease by 14.4% during the fourth quarter. Hsbc Holdings PLC now owns 3,151,749 shares of the financial services provider's stock worth $27,246,000 after acquiring an additional 397,854 shares during the last quarter. Renaissance Technologies LLC lifted its stake in shares of Global Net Lease by 158.9% in the first quarter. Renaissance Technologies LLC now owns 1,366,133 shares of the financial services provider's stock worth $12,787,000 after acquiring an additional 838,500 shares in the last quarter. Bank of New York Mellon Corp acquired a new position in shares of Global Net Lease in the second quarter worth about $11,232,000. Principal Financial Group Inc. boosted its holdings in Global Net Lease by 2.0% in the first quarter. Principal Financial Group Inc. now owns 958,365 shares of the financial services provider's stock valued at $8,970,000 after purchasing an additional 18,661 shares during the last quarter. Finally, First Trust Advisors LP boosted its holdings in Global Net Lease by 282.7% in the first quarter. First Trust Advisors LP now owns 614,335 shares of the financial services provider's stock valued at $5,750,000 after purchasing an additional 453,808 shares during the last quarter. 61.19% of the stock is currently owned by institutional investors and hedge funds.

Global Net Lease Stock Down 0.8%

Shares of Global Net Lease stock opened at $6.91 on Wednesday. The business has a 50-day moving average price of $8.23 and a 200 day moving average price of $9.04. Global Net Lease, Inc. has a fifty-two week low of $6.81 and a fifty-two week high of $10.04. The firm has a market cap of $1.46 billion, a P/E ratio of 7.25 and a beta of 1.09. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.94.

Global Net Lease (NYSE:GNL - Get Free Report) last released its earnings results on Wednesday, August 5th. The financial services provider reported ($0.05) 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 for the quarter, compared to the consensus estimate of $109.68 million.

Global Net Lease Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 16th. Stockholders of record on Monday, October 12th were issued a $0.19 dividend. 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 -271.43%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on GNL. Huntington started coverage on Global Net Lease in a research note on Wednesday, July 15th. They set a "market perform" rating and a $10.00 price objective for the company. Citizens Jmp restated a "market outperform" rating and set a $10.00 price objective on shares of Global Net Lease in a report on Monday, August 31st. Finally, BMO Capital Markets raised Global Net Lease from a "market perform" rating to an "outperform" rating and set a $10.00 target price on the stock in a research report on Monday, August 17th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $10.25.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.