Exchange Traded Concepts LLC Trims Stock Position in Global Net Lease, Inc. (NYSE:GNL)

Exchange Traded Concepts LLC trimmed its position in Global Net Lease, Inc. (NYSE:GNL - Free Report) by 19.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (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 0.08% of Global Net Lease worth $1,535,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. Van ECK Associates Corp grew its position in Global Net Lease by 10.4% during the 4th quarter. Van ECK Associates Corp now owns 38,101 shares of the financial services provider's stock worth $278,000 after purchasing an additional 3,594 shares during the period. Asset Management One Co. Ltd. lifted its stake in Global Net Lease by 5.5% in the 4th quarter. Asset Management One Co. Ltd. now owns 295,822 shares of the financial services provider's stock valued at $2,130,000 after buying an additional 15,372 shares in the last quarter. Rhumbline Advisers lifted its stake in Global Net Lease by 3.3% in the 4th quarter. Rhumbline Advisers now owns 695,304 shares of the financial services provider's stock valued at $5,076,000 after buying an additional 22,390 shares in the last quarter. Allworth Financial LP lifted its stake in Global Net Lease by 157.6% in the 4th quarter. Allworth Financial LP now owns 10,314 shares of the financial services provider's stock valued at $74,000 after buying an additional 6,310 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D purchased a new position in Global Net Lease in the 4th quarter worth approximately $657,000. 61.19% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Global Net Lease

In related news, insider Nicholas S. Schorsch sold 7,103,000 shares of the business's stock in a transaction 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 sale, the insider now directly owns 19,907,384 shares of the company's stock, valued at $147,911,863.12. The trade was a 26.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last three months, insiders sold 7,703,000 shares of company stock valued at $57,363,290. Insiders own 0.37% of the company's stock.

Analysts Set New Price Targets

A number of research firms have weighed in on GNL. B. Riley assumed coverage on shares of Global Net Lease in a research note on Tuesday, April 22nd. They issued a "neutral" rating and a $8.00 target price on the stock. JMP Securities reiterated a "market outperform" rating and issued a $9.00 target price on shares of Global Net Lease in a report on Thursday, June 12th. Three research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $9.00.

Global Net Lease Stock Up 2.0%

GNL stock traded up $0.15 during midday trading on Friday, hitting $7.48. The company's stock had a trading volume of 6,758,826 shares, compared to its average volume of 1,581,137. The firm has a market capitalization of $1.71 billion, a P/E ratio of -5.05 and a beta of 1.22. The firm has a 50-day simple moving average of $7.63 and a 200-day simple moving average of $7.49. 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.

Global Net Lease (NYSE:GNL - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The financial services provider reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.06. The business had revenue of $132.42 million during the quarter, compared to analysts' expectations of $187.40 million. Global Net Lease had a negative net margin of 40.64% and a negative return on equity of 9.23%. As a group, equities analysts forecast that Global Net Lease, Inc. will post 1.26 EPS for the current year.

Global Net Lease Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 16th. Stockholders of record on Friday, April 11th were given a dividend of $0.19 per share. The ex-dividend date of this dividend was Friday, April 11th. This represents a $0.76 annualized dividend and a dividend yield of 10.17%. Global Net Lease's dividend payout ratio (DPR) is currently -51.35%.

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.