81,233 Shares in Global Net Lease, Inc. (NYSE:GNL) Purchased by Renaissance Technologies LLC

Renaissance Technologies LLC purchased a new stake in Global Net Lease, Inc. (NYSE:GNL - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 81,233 shares of the financial services provider's stock, valued at approximately $593,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. JPMorgan Chase & Co. increased its stake in Global Net Lease by 31.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 612,228 shares of the financial services provider's stock valued at $5,155,000 after buying an additional 147,803 shares during the period. HB Wealth Management LLC acquired a new position in Global Net Lease in the 4th quarter valued at about $81,000. PFG Investments LLC grew its holdings in shares of Global Net Lease by 177.2% during the fourth quarter. PFG Investments LLC now owns 86,497 shares of the financial services provider's stock worth $631,000 after buying an additional 55,293 shares in the last quarter. Barclays PLC lifted its stake in shares of Global Net Lease by 312.3% during the third quarter. Barclays PLC now owns 339,701 shares of the financial services provider's stock valued at $2,859,000 after buying an additional 257,310 shares during the period. Finally, US Bancorp DE lifted its stake in shares of Global Net Lease by 363.2% during the 4th quarter. US Bancorp DE now owns 6,072 shares of the financial services provider's stock worth $44,000 after purchasing an additional 4,761 shares during the period. Hedge funds and other institutional investors own 61.19% of the company's stock.

Global Net Lease Trading Up 0.7 %

Global Net Lease stock traded up $0.05 during midday trading on Thursday, reaching $7.58. The stock had a trading volume of 242,701 shares, compared to its average volume of 1,719,450. Global Net Lease, Inc. has a twelve month low of $6.51 and a twelve month high of $9.10. The stock has a market capitalization of $1.73 billion, a PE ratio of -8.06 and a beta of 1.22. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.06 and a current ratio of 0.06. The stock's 50-day simple moving average is $7.68 and its 200 day simple moving average is $7.48.

Global Net Lease Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 16th. Shareholders of record on Friday, April 11th were given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 10.03%. The ex-dividend date was Friday, April 11th. Global Net Lease's payout ratio is -100.00%.

Insider Buying and Selling

In related news, major shareholder Nicholas S. Schorsch sold 200,000 shares of the firm's stock in a transaction on Thursday, April 3rd. The stock was sold at an average price of $7.95, for a total transaction of $1,590,000.00. Following the transaction, the insider now directly owns 1,629,073 shares in the company, valued at $12,951,130.35. This trade represents a 10.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.37% of the company's stock.

Analysts Set New Price Targets

Separately, B. Riley began coverage on Global Net Lease in a research note on Tuesday, April 22nd. They issued a "neutral" rating and a $8.00 price target on the stock. Three research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Global Net Lease presently has a consensus rating of "Moderate Buy" and a consensus price target of $9.00.

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.