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Bank of New York Mellon Corp Cuts Stock Position in Global Net Lease, Inc. (NYSE:GNL)

Global Net Lease logo with Finance background

Bank of New York Mellon Corp trimmed its holdings in Global Net Lease, Inc. (NYSE:GNL - Free Report) by 3.3% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,294,963 shares of the financial services provider's stock after selling 43,930 shares during the period. Bank of New York Mellon Corp owned 0.57% of Global Net Lease worth $10,412,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Invesco Ltd. lifted its stake in shares of 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 valued at $26,101,000 after purchasing an additional 461,173 shares during the last quarter. Helix Partners Management LP bought a new position in Global Net Lease in the fourth quarter worth about $24,455,000. Northern Trust Corp grew its position in Global Net Lease by 26.3% during the 4th quarter. Northern Trust Corp now owns 2,612,357 shares of the financial services provider's stock worth $19,070,000 after purchasing an additional 544,719 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Global Net Lease by 7.1% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,132,709 shares of the financial services provider's stock worth $15,569,000 after purchasing an additional 141,845 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in Global Net Lease by 107.3% in the fourth quarter. JPMorgan Chase & Co. now owns 1,269,118 shares of the financial services provider's stock worth $9,265,000 after purchasing an additional 656,890 shares during the period. Institutional investors and hedge funds own 61.19% of the company's stock.

Global Net Lease Price Performance

GNL opened at $7.07 on Tuesday. Global Net Lease, Inc. has a 52-week low of $6.51 and a 52-week high of $9.11. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 0.76. The company has a 50 day moving average of $7.61 and a two-hundred day moving average of $7.53. The company has a market cap of $1.62 billion, a P/E ratio of -4.77 and a beta of 1.19.

Global Net Lease (NYSE:GNL - Get Free Report) last posted its quarterly earnings data 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. The company had revenue of $132.42 million during the quarter, compared to analysts' expectations of $187.40 million. Global Net Lease had a negative return on equity of 9.23% and a negative net margin of 40.64%. On average, analysts expect that Global Net Lease, Inc. will post 1.26 earnings per share for the current year.

Global Net Lease Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 16th. Shareholders of record on Friday, July 11th were given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 10.76%. The ex-dividend date was Friday, July 11th. Global Net Lease's payout ratio is currently -51.35%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on GNL shares. 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 price target for the company. JMP Securities restated a "market outperform" rating and set a $9.00 price objective on shares of Global Net Lease in a research note on Thursday, June 12th. Three research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $8.33.

View Our Latest Stock Report on Global Net Lease

Insider Activity

In related news, insider Nicholas S. Schorsch sold 7,103,000 shares of the stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $7.43, for a total value of $52,775,290.00. Following the completion of the transaction, the insider owned 19,907,384 shares of the company's stock, valued at $147,911,863.12. This represents a 26.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Edward M. Jr. Weil sold 150,000 shares of the company's stock in a transaction that occurred on Thursday, July 10th. The stock was sold at an average price of $7.61, for a total transaction of $1,141,500.00. Following the sale, the chief executive officer directly owned 584,053 shares in the company, valued at $4,444,643.33. This trade represents a 20.43% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,653,000 shares of company stock valued at $56,914,790. 0.37% of the stock is owned by insiders.

Global Net Lease 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.

Further Reading

Want to see what other hedge funds are holding GNL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Global Net Lease, Inc. (NYSE:GNL - Free Report).

Institutional Ownership by Quarter for Global Net Lease (NYSE:GNL)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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