Sumitomo Mitsui Trust Group Inc. Sells 3,569 Shares of Global Net Lease, Inc. $GNL

Sumitomo Mitsui Trust Group Inc. decreased its stake in shares of Global Net Lease, Inc. (NYSE:GNL) by 1.7% in the second quarter, HoldingsChannel reports. The institutional investor owned 212,278 shares of the financial services provider’s stock after selling 3,569 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Global Net Lease were worth $1,603,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Blue Sky Capital Consultants Group Inc. lifted its holdings in Global Net Lease by 10.4% during the 2nd quarter. Blue Sky Capital Consultants Group Inc. now owns 334,673 shares of the financial services provider’s stock valued at $2,527,000 after buying an additional 31,576 shares in the last quarter. Ritholtz Wealth Management bought a new stake in shares of Global Net Lease in the 2nd quarter valued at about $1,671,000. SLT Holdings LLC bought a new stake in shares of Global Net Lease in the 2nd quarter valued at about $98,000. Aberdeen Group plc raised its holdings in shares of Global Net Lease by 32.4% in the 2nd quarter. Aberdeen Group plc now owns 129,182 shares of the financial services provider’s stock valued at $968,000 after purchasing an additional 31,589 shares in the last quarter. Finally, Global Assets Advisory LLC bought a new stake in shares of Global Net Lease in the 2nd quarter valued at about $186,000. Institutional investors own 61.19% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on GNL shares. Colliers Securities upgraded shares of Global Net Lease from a “neutral” rating to a “buy” rating and set a $12.00 price target for the company in a report on Thursday, August 7th. KeyCorp upgraded shares of Global Net Lease from a “sector weight” rating to an “overweight” rating and set a $9.00 price target for the company in a report on Tuesday, August 19th. Finally, Wall Street Zen upgraded shares of Global Net Lease from a “sell” rating to a “hold” rating in a report on Friday, August 22nd. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $9.20.

Global Net Lease Trading Up 0.9%

NYSE GNL opened at $7.63 on Friday. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.90. The firm has a market cap of $1.68 billion, a PE ratio of -5.30 and a beta of 1.20. The company has a 50 day moving average price of $7.93 and a 200 day moving average price of $7.66. Global Net Lease, Inc. has a 52 week low of $6.51 and a 52 week high of $8.35.

Global Net Lease (NYSE:GNL) last posted its quarterly earnings data on Wednesday, August 6th. The financial services provider reported $0.24 EPS for the quarter, topping the consensus estimate of $0.20 by $0.04. The firm had revenue of $124.91 million during the quarter, compared to analyst estimates of $138.38 million. Global Net Lease had a negative net margin of 43.75% and a negative return on equity of 9.71%. As a group, sell-side analysts forecast that Global Net Lease, Inc. will post 1.26 EPS for the current fiscal year.

Global Net Lease Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 16th. Shareholders of record on Monday, October 13th were given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 10.0%. The ex-dividend date of this dividend was Friday, October 10th. Global Net Lease’s payout ratio is currently -52.78%.

Global Net Lease Company 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.