Exchange Traded Concepts LLC Lowers Holdings in Global Net Lease, Inc. (NYSE:GNL)

Exchange Traded Concepts LLC trimmed its holdings in Global Net Lease, Inc. (NYSE:GNL - Free Report) by 19.1% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 190,877 shares of the financial services provider's stock after selling 44,950 shares during the period. Exchange Traded Concepts LLC owned approximately 0.08% of Global Net Lease worth $1,535,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. CoreCap Advisors LLC acquired a new position in Global Net Lease during the fourth quarter worth $25,000. Ameriflex Group Inc. acquired a new position in Global Net Lease during the fourth quarter worth $25,000. GF Fund Management CO. LTD. acquired a new position in Global Net Lease during the fourth quarter worth $26,000. US Bancorp DE lifted its stake in Global Net Lease by 363.2% during the fourth 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 in the last quarter. Finally, Creative Financial Designs Inc. ADV lifted its stake in Global Net Lease by 119.4% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 6,659 shares of the financial services provider's stock worth $49,000 after purchasing an additional 3,624 shares in the last quarter. 61.19% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

GNL has been the topic of a number of research reports. B. Riley initiated coverage on Global Net Lease in a research note on Tuesday, April 22nd. They set a "neutral" rating and a $8.00 price target on the stock. JMP Securities restated a "market outperform" rating and set a $9.00 price target on shares of Global Net Lease in a research note on Thursday, June 12th. 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 stock. According to MarketBeat, Global Net Lease currently has an average rating of "Moderate Buy" and a consensus target price of $9.00.

Global Net Lease Stock Up 1.3%

Shares of NYSE GNL opened at $7.34 on Thursday. The stock has a market cap of $1.68 billion, a P/E ratio of -4.96 and a beta of 1.22. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 0.76. Global Net Lease, Inc. has a 12-month low of $6.51 and a 12-month high of $9.11. The business's fifty day simple moving average is $7.61 and its 200-day simple moving average is $7.49.

Global Net Lease (NYSE:GNL - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The financial services provider reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.06. The business had revenue of $132.42 million for 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%. As a group, equities analysts predict that Global Net Lease, Inc. will post 1.26 EPS for the current fiscal year.

Global Net Lease Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 16th. Investors of record on Friday, April 11th were issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 10.36%. The ex-dividend date of this dividend was Friday, April 11th. Global Net Lease's dividend payout ratio (DPR) is presently -51.35%.

Insider Activity at Global Net Lease

In related news, major shareholder Nicholas S. Schorsch sold 100,000 shares of the 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 transaction, the insider now owns 1,529,073 shares of the company's stock, valued at $12,217,293.27. This represents a 6.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders have sold 7,703,000 shares of company stock valued at $57,363,290 over the last quarter. 0.37% of the stock is owned by 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.

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