Goldman Sachs Group Inc. Sells 404,435 Shares of Global Net Lease, Inc. $GNL

Key Points

• Goldman Sachs Group Inc. reduced its stake in Global Net Lease, Inc. by 32.3%, selling 404,435 shares, and now holds approximately 0.37% of the company valued at $6,828,000.
• Several institutional investors increased their holdings in Global Net Lease, with Conversant Capital LLC acquiring a new position worth about $20,555,000 during the same quarter.
• Global Net Lease reported quarterly earnings with an EPS of $0.24, exceeding analysts' expectations, but it also indicated a negative return on equity of 9.71% and a net margin of -43.75%.

Goldman Sachs Group Inc. cut its stake in shares of Global Net Lease, Inc. (NYSE:GNL - Free Report) by 32.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 849,284 shares of the financial services provider's stock after selling 404,435 shares during the quarter. Goldman Sachs Group Inc. owned approximately 0.37% of Global Net Lease worth $6,828,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in GNL. Conversant Capital LLC bought a new position in shares of Global Net Lease during the first quarter worth about $20,555,000. Brown Advisory Inc. increased its position in Global Net Lease by 0.9% during the 1st quarter. Brown Advisory Inc. now owns 2,305,031 shares of the financial services provider's stock valued at $18,532,000 after purchasing an additional 20,450 shares during the period. Advisors Asset Management Inc. increased its position in Global Net Lease by 5.6% during the 1st quarter. Advisors Asset Management Inc. now owns 1,511,377 shares of the financial services provider's stock valued at $12,151,000 after purchasing an additional 80,797 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Global Net Lease by 10.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,109,971 shares of the financial services provider's stock worth $8,924,000 after purchasing an additional 102,173 shares during the last quarter. Finally, Taconic Capital Advisors LP acquired a new position in shares of Global Net Lease in the 4th quarter worth approximately $7,300,000. Institutional investors own 61.19% of the company's stock.

Analyst Ratings Changes

Several research firms recently issued reports on GNL. Colliers Securities upgraded shares of Global Net Lease from a "neutral" rating to a "buy" rating and set a $12.00 target price on the stock in a report on Thursday, August 7th. JMP Securities reissued a "market outperform" rating and issued a $9.00 price objective on shares of Global Net Lease in a research note on Thursday, June 12th. KeyCorp raised Global Net Lease from a "sector weight" rating to an "overweight" rating and set a $9.00 target price for the company in a research note on Tuesday, August 19th. 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 research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $9.20.

Global Net Lease Price Performance

Shares of NYSE GNL opened at $8.22 on Monday. The company has a market capitalization of $1.82 billion, a PE ratio of -5.71 and a beta of 1.22. 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 50 day moving average price is $7.53 and its 200-day moving average price is $7.63. Global Net Lease, Inc. has a twelve month low of $6.51 and a twelve month high of $9.10.

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 EPS for the quarter, topping analysts' consensus estimates 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 business had revenue of $124.91 million for the quarter, compared to analyst estimates of $138.38 million. On average, equities analysts anticipate that Global Net Lease, Inc. will post 1.26 EPS for the current year.

Global Net Lease Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 16th. Stockholders of record on Friday, July 11th were paid 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 was Friday, July 11th. Global Net Lease's payout ratio is presently -52.78%.

Insider Buying and Selling at Global Net Lease

In related news, CEO Edward M. Jr. Weil sold 150,000 shares of the stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $7.61, for a total transaction of $1,141,500.00. Following the completion of the transaction, the chief executive officer owned 584,053 shares in the company, valued at approximately $4,444,643.33. This represents a 20.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.37% of the company's stock.

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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