Algert Global LLC Lowers Holdings in Global Net Lease, Inc. $GNL

Key Points

• Algert Global LLC has reduced its stake in Global Net Lease, Inc. by 39.2%, now holding approximately $1.57 million in shares.
• The company recently announced a quarterly dividend of $0.19, resulting in an annualized yield of 9.7%.
• Global Net Lease's stock received several analyst upgrades, with Colliers Securities raising it from "neutral" to "buy" with a price target of $12.00.

Algert Global LLC decreased its position in shares of Global Net Lease, Inc. (NYSE:GNL - Free Report) by 39.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 195,212 shares of the financial services provider's stock after selling 126,030 shares during the quarter. Algert Global LLC owned 0.09% of Global Net Lease worth $1,570,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in GNL. Northern Trust Corp boosted its holdings in Global Net Lease by 26.3% during the fourth quarter. Northern Trust Corp now owns 2,612,357 shares of the financial services provider's stock worth $19,070,000 after buying an additional 544,719 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Global Net Lease by 2.7% in the first quarter. Principal Financial Group Inc. now owns 986,423 shares of the financial services provider's stock worth $7,931,000 after acquiring an additional 25,741 shares during the period. Allianz Asset Management GmbH boosted its stake in shares of Global Net Lease by 177.1% during the 1st quarter. Allianz Asset Management GmbH now owns 386,718 shares of the financial services provider's stock worth $3,109,000 after acquiring an additional 247,140 shares in the last quarter. M&T Bank Corp grew its position in shares of Global Net Lease by 185.8% during the 1st quarter. M&T Bank Corp now owns 34,749 shares of the financial services provider's stock valued at $279,000 after acquiring an additional 22,590 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Global Net Lease during the 1st quarter valued at about $355,000. 61.19% of the stock is owned by hedge funds and other institutional investors.

Global Net Lease Price Performance

NYSE GNL traded down $0.05 during trading hours on Thursday, hitting $7.73. 104,786 shares of the company's stock traded hands, compared to its average volume of 1,743,866. The company has a market capitalization of $1.71 billion, a PE ratio of -5.36 and a beta of 1.20. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.13 and a quick ratio of 0.13. Global Net Lease, Inc. has a 52-week low of $6.51 and a 52-week high of $9.10. The firm's 50-day moving average is $7.41 and its 200-day moving average is $7.55.

Global Net Lease (NYSE:GNL - Get Free Report) last issued its earnings results on Wednesday, August 6th. The financial services provider reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.04. The business had revenue of $124.91 million for the quarter, compared to analysts' expectations of $138.38 million. Global Net Lease had a negative return on equity of 9.71% and a negative net margin of 43.75%. Equities analysts forecast that Global Net Lease, Inc. will post 1.26 EPS for the current fiscal year.

Global Net Lease Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 16th. Shareholders of record on Friday, July 11th were paid a dividend of $0.19 per share. The ex-dividend date of this dividend was Friday, July 11th. This represents a $0.76 dividend on an annualized basis and a yield of 9.8%. Global Net Lease's payout ratio is -52.78%.

Analyst Upgrades and Downgrades

GNL has been the subject of a number of analyst reports. Colliers Securities raised Global Net Lease from a "neutral" rating to a "buy" rating and set a $12.00 price target for the company in a report on Thursday, August 7th. KeyCorp upgraded Global Net Lease from a "sector weight" rating to an "overweight" rating and set a $9.00 price objective for the company in a research report on Tuesday, August 19th. JMP Securities reiterated a "market outperform" rating and set a $9.00 target price on shares of Global Net Lease in a research report on Thursday, June 12th. Finally, Wall Street Zen raised shares of Global Net Lease from a "sell" rating to a "hold" rating in a research note on Friday, August 22nd. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Global Net Lease presently has an average rating of "Moderate Buy" and a consensus target price of $9.20.

Insider Buying and Selling at Global Net Lease

In other news, CEO Edward M. Jr. Weil sold 150,000 shares of the business's stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $7.61, for a total transaction of $1,141,500.00. Following the transaction, the chief executive officer owned 584,053 shares of the company's stock, valued at approximately $4,444,643.33. The trade was a 20.43% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Nicholas S. Schorsch sold 300,000 shares of the firm's stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $7.33, for a total transaction of $2,199,000.00. Following the sale, the insider owned 19,607,384 shares of the company's stock, valued at approximately $143,722,124.72. The trade was a 1.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,553,000 shares of company stock valued at $56,115,790. 0.37% of the stock is owned by company insiders.

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.