Ameriprise Financial Inc. lessened its holdings in Global Net Lease, Inc. (NYSE:GNL - Free Report) by 12.4% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 545,287 shares of the financial services provider's stock after selling 77,051 shares during the period. Ameriprise Financial Inc. owned 0.24% of Global Net Lease worth $3,981,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. PFG Investments LLC increased its stake in Global Net Lease by 177.2% in the 4th 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. Northern Trust Corp grew its position in shares of 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 valued at $19,070,000 after purchasing an additional 544,719 shares in the last quarter. Barclays PLC lifted its holdings in shares of Global Net Lease by 312.3% in the 3rd quarter. Barclays PLC now owns 339,701 shares of the financial services provider's stock valued at $2,859,000 after acquiring an additional 257,310 shares during the last quarter. US Bancorp DE lifted its holdings in shares of Global Net Lease by 363.2% in the 4th quarter. US Bancorp DE now owns 6,072 shares of the financial services provider's stock valued at $44,000 after acquiring an additional 4,761 shares during the last quarter. Finally, Swiss National Bank lifted its holdings in shares of Global Net Lease by 0.8% in the 4th quarter. Swiss National Bank now owns 385,257 shares of the financial services provider's stock valued at $2,812,000 after acquiring an additional 3,100 shares during the last quarter. Hedge funds and other institutional investors own 61.19% of the company's stock.
Global Net Lease Trading Down 1.1%
Shares of Global Net Lease stock traded down $0.09 on Friday, hitting $7.76. 1,481,353 shares of the company traded hands, compared to its average volume of 1,540,846. The stock's 50 day moving average price is $7.62 and its 200-day moving average price is $7.47. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 0.70. Global Net Lease, Inc. has a 52 week low of $6.51 and a 52 week high of $9.11. The company has a market cap of $1.77 billion, a PE ratio of -8.26 and a beta of 1.22.
Global Net Lease (NYSE:GNL - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The financial services provider reported $0.29 earnings per share for the quarter, beating the consensus estimate 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 the consensus estimate of $187.40 million. Equities research analysts predict that Global Net Lease, Inc. will post 1.26 EPS for the current year.
Global Net Lease Cuts Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, April 16th. Stockholders of record on Friday, April 11th were paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 9.79%. The ex-dividend date was Friday, April 11th. Global Net Lease's dividend payout ratio is presently -51.35%.
Insider Activity
In related news, major shareholder Nicholas S. Schorsch sold 100,000 shares of the business's stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $7.99, for a total value of $799,000.00. Following the completion of the transaction, the insider now owns 1,529,073 shares of the company's stock, valued at $12,217,293.27. The trade was a 6.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.37% of the company's stock.
Analysts Set New Price Targets
Separately, B. Riley initiated coverage on shares of Global Net Lease in a report on Tuesday, April 22nd. They issued a "neutral" rating and a $8.00 price target for the company. Three research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $9.00.
Read Our Latest Report on GNL
Global Net Lease Company Profile
(
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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