Ritholtz Wealth Management Invests $1.67 Million in Global Net Lease, Inc. $GNL

Key Points

• Ritholtz Wealth Management invested approximately $1.67 million in Global Net Lease, Inc. (GNL) by acquiring 221,382 shares during the second quarter, holding 0.10% of the company as of the latest SEC filing.
• Global Net Lease reported $0.24 earnings per share (EPS) for the quarter, surpassing the consensus estimate of $0.20, but had a negative return on equity of 9.71% and a negative net margin of 43.75%.
• The company declared a quarterly dividend of $0.19, resulting in an annualized dividend yield of 9.7%, with a payout ratio of -52.78%.

Ritholtz Wealth Management bought a new position in Global Net Lease, Inc. (NYSE:GNL - Free Report) during the second quarter, according to its most recent disclosure with the SEC. The firm bought 221,382 shares of the financial services provider's stock, valued at approximately $1,671,000. Ritholtz Wealth Management owned 0.10% of Global Net Lease as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently bought and sold shares of GNL. Conversant Capital LLC purchased a new position in Global Net Lease during the first quarter valued at $20,555,000. Nuveen LLC purchased a new position in Global Net Lease during the first quarter valued at $6,207,000. Bulltick Wealth Management LLC purchased a new position in Global Net Lease during the first quarter valued at $4,020,000. Allianz Asset Management GmbH lifted its position in Global Net Lease by 177.1% during the first quarter. Allianz Asset Management GmbH now owns 386,718 shares of the financial services provider's stock valued at $3,109,000 after purchasing an additional 247,140 shares in the last quarter. Finally, Public Sector Pension Investment Board lifted its position in Global Net Lease by 27.3% during the first quarter. Public Sector Pension Investment Board now owns 628,050 shares of the financial services provider's stock valued at $5,050,000 after purchasing an additional 134,607 shares in the last quarter. 61.19% of the stock is currently owned by hedge funds and other institutional investors.

Global Net Lease Trading Down 1.9%

Shares of GNL stock opened at $7.80 on Friday. Global Net Lease, Inc. has a 12-month low of $6.51 and a 12-month high of $8.58. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.90. The stock's 50-day moving average price is $7.92 and its 200-day moving average price is $7.63. The stock has a market capitalization of $1.72 billion, a price-to-earnings ratio of -5.42 and a beta of 1.20.

Global Net Lease (NYSE:GNL - Get Free Report) last issued its earnings results on Wednesday, August 6th. The financial services provider reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.04. Global Net Lease had a negative return on equity of 9.71% and a negative net margin of 43.75%.The firm had revenue of $124.91 million for the quarter, compared to analysts' expectations of $138.38 million. Equities research analysts predict that Global Net Lease, Inc. will post 1.26 EPS for the current fiscal year.

Global Net Lease Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 16th. Stockholders of record on Monday, October 13th were issued a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 9.7%. The ex-dividend date of this dividend was Friday, October 10th. Global Net Lease's payout ratio is -52.78%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on GNL. Wall Street Zen upgraded Global Net Lease from a "sell" rating to a "hold" rating in a research report on Friday, August 22nd. Colliers Securities raised Global Net Lease from a "neutral" rating to a "buy" rating and set a $12.00 price target on the stock in a report on Thursday, August 7th. Finally, KeyCorp raised Global Net Lease from a "sector weight" rating to an "overweight" rating and set a $9.00 price target on the stock in a report on Tuesday, August 19th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $9.20.

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.

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