Millennium Management LLC Increases Stock Position in Global Net Lease, Inc. (NYSE:GNL)

Millennium Management LLC boosted its holdings in Global Net Lease, Inc. (NYSE:GNL - Free Report) by 175.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 788,516 shares of the financial services provider's stock after buying an additional 502,469 shares during the period. Millennium Management LLC owned approximately 0.34% of Global Net Lease worth $5,756,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. CoreCap Advisors LLC bought a new stake in Global Net Lease in the 4th quarter valued at $25,000. US Bancorp DE grew its stake in shares of 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 valued at $44,000 after purchasing an additional 4,761 shares during the last quarter. Creative Financial Designs Inc. ADV raised its holdings in Global Net Lease by 119.4% during the 4th 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 during the last quarter. Coldstream Capital Management Inc. acquired a new position in Global Net Lease in the fourth quarter valued at approximately $73,000. Finally, Allworth Financial LP lifted its stake in shares of 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 purchasing an additional 6,310 shares during the period. 61.19% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Global Net Lease

In other news, major shareholder Nicholas S. Schorsch sold 100,000 shares of the stock in a transaction that occurred 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 completion of the sale, the insider now directly 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.37% of the company's stock.

Global Net Lease Price Performance

Shares of GNL stock traded down $0.09 on Friday, reaching $7.76. The company had a trading volume of 1,481,353 shares, compared to its average volume of 1,538,445. The business's 50-day moving average is $7.62 and its 200 day moving average is $7.47. The stock has a market capitalization of $1.77 billion, a PE ratio of -8.26 and a beta of 1.22. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 0.70. Global Net Lease, Inc. has a one year low of $6.51 and a one year high of $9.11.

Global Net Lease (NYSE:GNL - Get Free Report) last posted its earnings results on Wednesday, May 7th. The financial services provider reported $0.29 EPS for the quarter, beating the consensus estimate of $0.23 by $0.06. Global Net Lease had a negative return on equity of 7.04% and a negative net margin of 21.37%. The firm had revenue of $132.42 million during the quarter, compared to the consensus estimate of $187.40 million. Equities research analysts forecast that Global Net Lease, Inc. will post 1.26 EPS for the current fiscal year.

Global Net Lease Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 16th. Stockholders of record on Friday, April 11th were issued 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 9.79%. Global Net Lease's dividend payout ratio is currently -51.35%.

Analyst Ratings Changes

Separately, 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 objective on the stock. Three equities research 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 data from MarketBeat.com, Global Net Lease has a consensus rating of "Moderate Buy" and a consensus target price of $9.00.

About Global Net Lease

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.