Renaissance Technologies LLC Takes $593,000 Position in Global Net Lease, Inc. (NYSE:GNL)

Renaissance Technologies LLC bought a new position in Global Net Lease, Inc. (NYSE:GNL - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 81,233 shares of the financial services provider's stock, valued at approximately $593,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. US Bancorp DE grew its position in shares of Global Net Lease by 363.2% during the fourth quarter. US Bancorp DE now owns 6,072 shares of the financial services provider's stock valued at $44,000 after purchasing an additional 4,761 shares in the last quarter. Creative Financial Designs Inc. ADV grew its holdings in Global Net Lease by 119.4% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 6,659 shares of the financial services provider's stock valued at $49,000 after buying an additional 3,624 shares in the last quarter. Allworth Financial LP increased its stake in Global Net Lease by 157.6% in the 4th quarter. Allworth Financial LP now owns 10,314 shares of the financial services provider's stock worth $74,000 after acquiring an additional 6,310 shares during the last quarter. HB Wealth Management LLC bought a new position in shares of Global Net Lease during the 4th quarter valued at approximately $81,000. Finally, Inceptionr LLC bought a new stake in Global Net Lease in the fourth quarter worth $84,000. 61.19% of the stock is owned by institutional investors.

Insider Activity at Global Net Lease

In other Global Net Lease news, major shareholder Nicholas S. Schorsch sold 200,000 shares of the business's stock in a transaction dated Thursday, April 3rd. The shares were sold at an average price of $7.95, for a total value of $1,590,000.00. Following the completion of the transaction, the insider now directly owns 1,629,073 shares in the company, valued at approximately $12,951,130.35. The trade was a 10.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.37% of the stock is currently owned by corporate insiders.

Global Net Lease Trading Up 0.3 %

GNL stock traded up $0.03 during trading on Tuesday, hitting $7.49. The company had a trading volume of 1,220,001 shares, compared to its average volume of 1,514,152. Global Net Lease, Inc. has a 52-week low of $6.51 and a 52-week high of $9.11. The company has a 50 day simple moving average of $7.69 and a 200-day simple moving average of $7.48. The firm has a market capitalization of $1.71 billion, a P/E ratio of -7.96 and a beta of 1.22. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 0.70.

Global Net Lease Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 16th. Stockholders of record on Friday, April 11th were given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 10.15%. The ex-dividend date was Friday, April 11th. Global Net Lease's payout ratio is -100.00%.

Wall Street Analysts Forecast Growth

Separately, B. Riley started coverage on shares of Global Net Lease in a report on Tuesday, April 22nd. They issued a "neutral" rating and a $8.00 target price on the stock. Three analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Global Net Lease presently has a consensus rating of "Moderate Buy" and a consensus price target of $9.00.

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.