Kovack Advisors Inc. Has $682,000 Stake in Global Net Lease, Inc. (NYSE:GNL)

Kovack Advisors Inc. lifted its holdings in Global Net Lease, Inc. (NYSE:GNL) by 13.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 81,026 shares of the financial services provider’s stock after purchasing an additional 9,630 shares during the period. Kovack Advisors Inc.’s holdings in Global Net Lease were worth $682,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in GNL. American Capital Advisory LLC bought a new stake in Global Net Lease in the 3rd quarter valued at $34,000. Park Place Capital Corp bought a new position in Global Net Lease during the third quarter worth about $35,000. GAMMA Investing LLC boosted its stake in Global Net Lease by 60.1% in the 3rd quarter. GAMMA Investing LLC now owns 5,054 shares of the financial services provider’s stock valued at $43,000 after buying an additional 1,897 shares in the last quarter. Verus Capital Partners LLC bought a new stake in shares of Global Net Lease in the 2nd quarter worth about $74,000. Finally, Atomi Financial Group Inc. bought a new stake in Global Net Lease during the first quarter worth about $81,000. Institutional investors and hedge funds own 61.19% of the company’s stock.

Global Net Lease Stock Up 0.4 %

Global Net Lease stock opened at $7.48 on Thursday. The firm has a market capitalization of $1.73 billion, a price-to-earnings ratio of -7.96, a price-to-earnings-growth ratio of 0.98 and a beta of 1.38. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 0.70. Global Net Lease, Inc. has a 1-year low of $6.52 and a 1-year high of $10.19. The firm’s fifty day moving average price is $8.33 and its two-hundred day moving average price is $8.00.

Global Net Lease (NYSE:GNL) last issued its quarterly earnings results on Wednesday, November 6th. The financial services provider reported ($0.33) earnings per share (EPS) 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 company had revenue of $196.56 million for the quarter, compared to analysts’ expectations of $198.76 million. During the same quarter in the previous year, the business earned $0.36 EPS. On average, equities research analysts predict that Global Net Lease, Inc. will post 1.27 earnings per share for the current fiscal year.

Global Net Lease Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 16th. Stockholders of record on Friday, October 11th were given a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 14.71%. The ex-dividend date of this dividend was Friday, October 11th. Global Net Lease’s dividend payout ratio (DPR) is currently -117.02%.

Insider Activity

In other Global Net Lease news, major shareholder Nicholas S. Schorsch purchased 100,000 shares of the stock in a transaction on Monday, November 11th. The stock was acquired at an average price of $7.72 per share, with a total value of $772,000.00. Following the transaction, the insider now directly owns 1,829,073 shares of the company’s stock, valued at approximately $14,120,443.56. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.31% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on GNL shares. B. Riley lowered 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 report on Monday, August 12th. StockNews.com upgraded Global Net Lease from a “sell” rating to a “hold” rating in a report on Thursday, August 8th. Finally, Truist Financial upped their price target on shares of Global Net Lease from $8.00 to $8.50 and gave the stock a “hold” rating in a research report on Wednesday, August 21st. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $9.83.

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.