Dimensional Fund Advisors LP reduced its position in Global Net Lease, Inc. (NYSE:GNL - Free Report) by 2.0% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 2,683,745 shares of the financial services provider's stock after selling 55,718 shares during the period. Dimensional Fund Advisors LP owned 1.16% of Global Net Lease worth $19,591,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. US Bancorp DE raised its holdings in Global Net Lease by 363.2% in the fourth 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. Creative Financial Designs Inc. ADV boosted its stake in Global Net Lease by 119.4% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 6,659 shares of the financial services provider's stock worth $49,000 after purchasing an additional 3,624 shares during the period. Allworth Financial LP raised its stake in shares of 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 valued at $74,000 after purchasing an additional 6,310 shares during the period. HB Wealth Management LLC acquired a new stake in shares of Global Net Lease in the 4th quarter valued at about $81,000. Finally, Inceptionr LLC bought a new stake in shares of Global Net Lease in the fourth quarter valued at about $84,000. 61.19% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Separately, B. Riley began coverage on Global Net Lease in a research report on Tuesday, April 22nd. They issued a "neutral" rating and a $8.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $9.00.
Check Out Our Latest Stock Report on Global Net Lease
Insider Buying and Selling
In other news, major shareholder Nicholas S. Schorsch sold 200,000 shares of the company's 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 completion of the transaction, the insider now directly owns 1,629,073 shares in the company, valued at approximately $12,951,130.35. This represents a 10.93 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.37% of the stock is owned by company insiders.
Global Net Lease Trading Up 2.5 %
GNL traded up $0.20 during trading on Friday, hitting $8.05. The company's stock had a trading volume of 2,125,009 shares, compared to its average volume of 1,526,843. Global Net Lease, Inc. has a twelve month low of $6.51 and a twelve month high of $9.11. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 0.70. The firm has a market capitalization of $1.84 billion, a P/E ratio of -8.56 and a beta of 1.22. The stock's fifty day moving average price is $7.67 and its 200-day moving average price is $7.47.
Global Net Lease (NYSE:GNL - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The financial services provider reported $0.29 earnings per share (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 firm had revenue of $132.42 million during the quarter, compared to analysts' expectations of $187.40 million. Analysts anticipate that Global Net Lease, Inc. will post 1.26 EPS for the current year.
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 issued a $0.19 dividend. The ex-dividend date of this dividend was Friday, April 11th. This represents a $0.76 annualized dividend and a dividend yield of 9.44%. Global Net Lease's payout ratio is currently -100.00%.
About Global Net Lease
(
Free Report)
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.
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