MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Sells 437,408 Shares of Global Net Lease, Inc. $GNL

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. reduced its stake in Global Net Lease by 20.5%, selling 437,408 shares during the first quarter, leaving it with 1,695,301 shares valued at $13.6 million.
• Global Net Lease stock received various upgrades, with Colliers Securities raising its rating to "buy" and setting a price target of $12.00, while the average target price is currently $9.20.
• The company declared a quarterly dividend of $0.19 per share, representing an annualized yield of 9.1%, despite a negative payout ratio of -52.78%.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lessened its stake in Global Net Lease, Inc. (NYSE:GNL - Free Report) by 20.5% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,695,301 shares of the financial services provider's stock after selling 437,408 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 0.74% of Global Net Lease worth $13,630,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Raymond James Financial Inc. bought a new position in Global Net Lease in the fourth quarter valued at about $227,000. Northern Trust Corp grew its position in 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 during the last quarter. CoreCap Advisors LLC bought a new position in Global Net Lease in the fourth quarter valued at about $25,000. Ethic Inc. bought a new position in Global Net Lease in the fourth quarter valued at about $99,000. Finally, Millennium Management LLC grew its position in Global Net Lease by 175.7% in the fourth quarter. Millennium Management LLC now owns 788,516 shares of the financial services provider's stock valued at $5,756,000 after acquiring an additional 502,469 shares during the last quarter. Institutional investors and hedge funds own 61.19% of the company's stock.

Global Net Lease Trading Down 1.3%

GNL traded down $0.11 during trading on Friday, hitting $8.22. The company's stock had a trading volume of 1,153,649 shares, compared to its average volume of 1,115,691. Global Net Lease, Inc. has a twelve month low of $6.51 and a twelve month high of $9.10. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.90. The stock's fifty day moving average price is $7.53 and its 200-day moving average price is $7.63. The firm has a market capitalization of $1.82 billion, a P/E ratio of -5.71 and a beta of 1.22.

Global Net Lease (NYSE:GNL - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $0.24 earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $138.38 million. Analysts anticipate that Global Net Lease, Inc. will post 1.26 EPS for the current year.

Global Net Lease Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 16th. Stockholders 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 dividend yield of 9.2%. The ex-dividend date of this dividend was Friday, July 11th. Global Net Lease's dividend payout ratio is presently -52.78%.

Insider Buying and Selling at Global Net Lease

In other news, 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 transaction, the chief executive officer directly owned 584,053 shares of the company's stock, valued at $4,444,643.33. This represents a 20.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.37% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms have issued reports on GNL. 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. KeyCorp upgraded Global Net Lease from a "sector weight" rating to an "overweight" rating and set a $9.00 price target on the stock in a report on Tuesday, August 19th. Colliers Securities raised Global Net Lease from a "neutral" rating to a "buy" rating and set a $12.00 price objective on the stock in a research note on Thursday, August 7th. Finally, Wall Street Zen raised Global Net Lease from a "sell" rating to a "hold" rating in a research note on Friday, August 22nd. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $9.20.

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.