Hsbc Holdings PLC Cuts Stock Position in Global Net Lease, Inc. $GNL

Key Points

• Hsbc Holdings PLC has reduced its stake in Global Net Lease, Inc. by 10.5%, selling 381,868 shares and owning 3,265,930 shares worth $26,041,000 after the sale.
• Global Net Lease recently reported earnings of $0.24 per share, surpassing analyst expectations, despite a net margin of -43.75% and revenue below estimates at $124.91 million.
• The company announced a quarterly dividend of $0.19 per share, yielding 9.7%, with insiders recently selling a significant number of shares during the reporting period.

Hsbc Holdings PLC trimmed its position in Global Net Lease, Inc. (NYSE:GNL - Free Report) by 10.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,265,930 shares of the financial services provider's stock after selling 381,868 shares during the quarter. Hsbc Holdings PLC owned 1.43% of Global Net Lease worth $26,041,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in GNL. Wells Fargo & Company MN lifted its holdings in shares of Global Net Lease by 33.8% in the 4th quarter. Wells Fargo & Company MN now owns 139,987 shares of the financial services provider's stock worth $1,022,000 after buying an additional 35,344 shares during the period. Bank of Montreal Can lifted its holdings in shares of Global Net Lease by 10.6% in the 4th quarter. Bank of Montreal Can now owns 31,694 shares of the financial services provider's stock worth $231,000 after buying an additional 3,040 shares during the period. Renaissance Technologies LLC purchased a new stake in shares of Global Net Lease in the 4th quarter worth $593,000. Raymond James Financial Inc. purchased a new stake in shares of Global Net Lease in the 4th quarter worth $227,000. Finally, Barclays PLC lifted its holdings in shares of Global Net Lease by 135.2% in the 4th quarter. Barclays PLC now owns 799,140 shares of the financial services provider's stock worth $5,834,000 after buying an additional 459,439 shares during the period. 61.19% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Insider Transactions at Global Net Lease

In other news, CEO Edward M. Jr. Weil sold 150,000 shares of the firm's stock in a transaction dated Thursday, July 10th. The stock was sold at an average price of $7.61, for a total value of $1,141,500.00. Following the completion of the transaction, the chief executive officer directly owned 584,053 shares in the company, valued at $4,444,643.33. This trade represents a 20.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Nicholas S. Schorsch sold 300,000 shares of the business's stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $7.33, for a total value of $2,199,000.00. Following the completion of the transaction, the insider directly owned 19,607,384 shares of the company's stock, valued at $143,722,124.72. The trade was a 1.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 7,553,000 shares of company stock valued at $56,115,790. 0.37% of the stock is currently owned by company insiders.

Global Net Lease Stock Down 0.5%

Global Net Lease stock traded down $0.04 during midday trading on Thursday, reaching $7.74. The company's stock had a trading volume of 124,727 shares, compared to its average volume of 1,743,948. The stock's 50-day simple moving average is $7.41 and its 200-day simple moving average is $7.55. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.13 and a quick ratio of 0.13. Global Net Lease, Inc. has a 52-week low of $6.51 and a 52-week high of $9.10. The stock has a market capitalization of $1.71 billion, a P/E ratio of -5.36 and a beta of 1.20.

Global Net Lease (NYSE:GNL - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $0.24 EPS for the quarter, beating 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 company had revenue of $124.91 million during the quarter, compared to analysts' expectations of $138.38 million. On average, sell-side analysts expect that Global Net Lease, Inc. will post 1.26 EPS for the current year.

Global Net Lease Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 16th. Shareholders of record on Friday, July 11th were paid a $0.19 dividend. The ex-dividend date was Friday, July 11th. This represents a $0.76 dividend on an annualized basis and a yield of 9.8%. Global Net Lease's dividend payout ratio (DPR) is -52.78%.

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.