Algert Global LLC Boosts Holdings in Global Net Lease, Inc. (NYSE:GNL)

Algert Global LLC increased its holdings in shares of Global Net Lease, Inc. (NYSE:GNL - Free Report) by 15.7% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 321,242 shares of the financial services provider's stock after acquiring an additional 43,658 shares during the period. Algert Global LLC owned about 0.14% of Global Net Lease worth $2,345,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of GNL. Charles Schwab Investment Management Inc. lifted its position in shares of Global Net Lease by 2.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,171,758 shares of the financial services provider's stock worth $30,454,000 after purchasing an additional 112,908 shares during the last quarter. Invesco Ltd. increased its stake in Global Net Lease by 14.8% in the 4th quarter. Invesco Ltd. now owns 3,575,498 shares of the financial services provider's stock worth $26,101,000 after buying an additional 461,173 shares during the period. Helix Partners Management LP bought a new stake in Global Net Lease during the 4th quarter valued at about $24,455,000. Northern Trust Corp boosted its position in Global Net Lease by 26.3% in the 4th quarter. Northern Trust Corp now owns 2,612,357 shares of the financial services provider's stock valued at $19,070,000 after buying an additional 544,719 shares during the period. Finally, Corient Private Wealth LLC boosted its position in Global Net Lease by 0.9% in the 4th quarter. Corient Private Wealth LLC now owns 2,344,533 shares of the financial services provider's stock valued at $17,115,000 after buying an additional 21,823 shares during the period. Hedge funds and other institutional investors own 61.19% of the company's stock.

Analysts Set New Price Targets

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

Insider Buying and Selling

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

Global Net Lease Stock Down 0.6%

Shares of GNL stock traded down $0.05 on Wednesday, hitting $7.90. The stock had a trading volume of 485,018 shares, compared to its average volume of 1,525,956. Global Net Lease, Inc. has a one year low of $6.51 and a one year high of $9.11. The business has a 50 day moving average price of $7.66 and a 200 day moving average price of $7.47. The company has a market cap of $1.81 billion, a PE ratio of -8.40 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 (NYSE:GNL - Get Free Report) last posted its earnings results on Wednesday, May 7th. The financial services provider reported $0.29 EPS for the quarter, beating analysts' consensus estimates of $0.23 by $0.06. Global Net Lease had a negative net margin of 21.37% and a negative return on equity of 7.04%. The business had revenue of $132.42 million for the quarter, compared to the consensus estimate of $187.40 million. Research analysts anticipate that Global Net Lease, Inc. will post 1.26 earnings per share for the current fiscal year.

Global Net Lease Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 16th. Investors of record on Friday, April 11th were issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 9.62%. The ex-dividend date of this dividend was Friday, April 11th. Global Net Lease's payout ratio is -51.35%.

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.