Bank of America Corp DE Reduces Stake in Global Net Lease, Inc. (NYSE:GNL)

Bank of America Corp DE lowered its position in Global Net Lease, Inc. (NYSE:GNL - Free Report) by 56.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 229,437 shares of the financial services provider's stock after selling 301,716 shares during the quarter. Bank of America Corp DE owned approximately 0.10% of Global Net Lease worth $1,675,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the company. US Bancorp DE lifted its position in shares of Global Net Lease by 363.2% during the 4th 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 last quarter. Creative Financial Designs Inc. ADV lifted its position in shares of 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 worth $49,000 after buying an additional 3,624 shares during the last quarter. Coldstream Capital Management Inc. purchased a new stake in Global Net Lease in the fourth quarter valued at $73,000. Allworth Financial LP boosted its stake in Global Net Lease by 157.6% in the fourth quarter. Allworth Financial LP now owns 10,314 shares of the financial services provider's stock valued at $74,000 after acquiring an additional 6,310 shares in the last quarter. Finally, Inceptionr LLC purchased a new position in shares of Global Net Lease during the fourth quarter worth about $84,000. Hedge funds and other institutional investors own 61.19% of the company's stock.

Global Net Lease Stock Performance

Global Net Lease stock traded up $0.15 during midday trading on Friday, hitting $7.72. 1,146,719 shares of the company's stock were exchanged, compared to its average volume of 1,541,597. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.06 and a current ratio of 0.06. The stock has a market cap of $1.76 billion, a price-to-earnings ratio of -8.21 and a beta of 1.22. Global Net Lease, Inc. has a 12-month low of $6.51 and a 12-month high of $9.11. The firm's 50 day simple moving average is $7.59 and its 200 day simple moving average is $7.48.

Global Net Lease (NYSE:GNL - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The financial services provider reported $0.29 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.23 by $0.06. The firm had revenue of $132.42 million for the quarter, compared to analyst estimates of $187.40 million. Global Net Lease had a negative return on equity of 7.04% and a negative net margin of 21.37%. 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 9.85%. The ex-dividend date of this dividend was Friday, April 11th. Global Net Lease's dividend payout ratio (DPR) is presently -51.35%.

Insider Buying and Selling

In other Global Net Lease news, major shareholder Nicholas S. Schorsch sold 100,000 shares of the firm's stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $7.99, for a total value of $799,000.00. Following the completion of the sale, the insider now owns 1,529,073 shares of the company's stock, valued at approximately $12,217,293.27. This trade represents a 6.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.37% of the company's stock.

Analysts Set New Price Targets

Separately, B. Riley started coverage on Global Net Lease in a report on Tuesday, April 22nd. They issued a "neutral" rating and a $8.00 target price for the company. Three 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. Based on data from MarketBeat.com, Global Net Lease has an average rating of "Moderate Buy" and a consensus target price of $9.00.

Global Net Lease 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.