Bulltick Wealth Management LLC Buys Shares of 500,000 Global Net Lease, Inc. (NYSE:GNL)

Key Points

• Bulltick Wealth Management LLC has invested $4.02 million in Global Net Lease by purchasing 500,000 shares, representing approximately 0.22% of the company's stock.
• Global Net Lease recently announced a quarterly dividend of $0.19 per share, reflecting an annualized yield of 10.2%, despite a negative dividend payout ratio of -52.78%.
• Wall Street analysts have given Global Net Lease a consensus rating of "Moderate Buy" with a price target of $9.25 following various upgrades and coverage initiations.

Bulltick Wealth Management LLC bought a new position in Global Net Lease, Inc. (NYSE:GNL - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 500,000 shares of the financial services provider's stock, valued at approximately $4,020,000. Bulltick Wealth Management LLC owned approximately 0.22% of Global Net Lease at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of GNL. Invesco Ltd. lifted its position in shares of Global Net Lease by 14.8% in the fourth quarter. Invesco Ltd. now owns 3,575,498 shares of the financial services provider's stock valued at $26,101,000 after acquiring an additional 461,173 shares in the last quarter. Northern Trust Corp lifted its position in shares of Global Net Lease by 26.3% in 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 acquiring an additional 544,719 shares in the last quarter. Brown Advisory Inc. lifted its position in shares of Global Net Lease by 0.9% in the first quarter. Brown Advisory Inc. now owns 2,305,031 shares of the financial services provider's stock valued at $18,532,000 after acquiring an additional 20,450 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Global Net Lease by 7.1% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,132,709 shares of the financial services provider's stock valued at $15,569,000 after acquiring an additional 141,845 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of 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 buying an additional 656,890 shares in the last quarter. Institutional investors own 61.19% of the company's stock.

Insider Activity at Global Net Lease

In other news, CEO Edward M. Jr. Weil sold 150,000 shares of the business'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 transaction, the chief executive officer directly owned 584,053 shares in the company, valued at $4,444,643.33. The trade was a 20.43% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Nicholas S. Schorsch sold 7,103,000 shares of the company's 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 in the company, valued at $147,911,863.12. This represents a 26.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,553,000 shares of company stock worth $56,115,790. Insiders own 0.37% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on GNL shares. JMP Securities reiterated a "market outperform" rating and issued a $9.00 target price on shares of Global Net Lease in a research report on Thursday, June 12th. Colliers Securities upgraded Global Net Lease from a "neutral" rating to a "buy" rating and set a $12.00 price target on the stock in a report on Thursday, August 7th. Finally, B. Riley assumed coverage on Global Net Lease in a research note on Tuesday, April 22nd. They issued a "neutral" rating and a $8.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $9.25.

Global Net Lease Stock Performance

Shares of NYSE GNL traded down $0.06 during trading on Friday, reaching $7.50. 1,118,418 shares of the company traded hands, compared to its average volume of 1,788,515. The firm's fifty day simple moving average is $7.38 and its 200 day simple moving average is $7.52. The stock has a market cap of $1.66 billion, a P/E ratio of -5.21 and a beta of 1.20. Global Net Lease, Inc. has a 12-month low of $6.51 and a 12-month high of $9.10. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.90.

Global Net Lease (NYSE:GNL - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.04. Global Net Lease had a negative return on equity of 9.71% and a negative net margin of 43.75%. The firm had revenue of $124.91 million during the quarter, compared to analyst estimates of $138.38 million. As a group, research analysts anticipate that Global Net Lease, Inc. will post 1.26 earnings per share for the current fiscal year.

Global Net Lease Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 16th. Stockholders of record on Friday, July 11th were issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 10.1%. The ex-dividend date was Friday, July 11th. Global Net Lease's payout ratio is currently -52.78%.

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.