Invesco Ltd. Reduces Position in Global Net Lease, Inc. $GNL

Key Points

• Invesco Ltd. reduced its stake in Global Net Lease, Inc. by 12.4%, selling 444,696 shares during the first quarter, now holding a total of 3,130,802 shares valued at approximately $25.2 million.
• Insider activity shows CEO Edward M. Jr. Weil sold 150,000 shares of stock for over $1.14 million, reducing his ownership by 20.43%, while the company also recently declared a quarterly dividend of $0.19 per share.
• Equities analysts have recently upgraded Global Net Lease, setting price targets at $9.00 to $12.00, with a current consensus rating of "Moderate Buy" and a target price of $9.20.

Invesco Ltd. decreased its position in Global Net Lease, Inc. (NYSE:GNL - Free Report) by 12.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,130,802 shares of the financial services provider's stock after selling 444,696 shares during the period. Invesco Ltd. owned 1.37% of Global Net Lease worth $25,172,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. CoreCap Advisors LLC purchased a new stake in shares of Global Net Lease in the 4th quarter valued at approximately $25,000. Ameriflex Group Inc. purchased a new stake in shares of Global Net Lease in the 4th quarter valued at approximately $25,000. GF Fund Management CO. LTD. purchased a new stake in shares of Global Net Lease in the 4th quarter valued at approximately $26,000. Coldstream Capital Management Inc. purchased a new stake in shares of Global Net Lease in the 4th quarter valued at approximately $73,000. Finally, Atlas Private Wealth Advisors purchased a new stake in shares of Global Net Lease in the 1st quarter valued at approximately $85,000. Hedge funds and other institutional investors own 61.19% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on GNL shares. Wall Street Zen raised shares of Global Net Lease from a "sell" rating to a "hold" rating in a research note on Friday. KeyCorp upgraded shares of Global Net Lease from a "sector weight" rating to an "overweight" rating and set a $9.00 price objective on the stock in a report on Tuesday, August 19th. JMP Securities restated a "market outperform" rating and issued a $9.00 price objective on shares of Global Net Lease in a report on Thursday, June 12th. Finally, Colliers Securities upgraded shares of Global Net Lease from a "neutral" rating to a "buy" rating and set a $12.00 price objective on the stock in a report on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $9.20.

Insider Buying and Selling

In other Global Net Lease news, CEO Edward M. Jr. Weil sold 150,000 shares of the stock in a transaction that occurred on 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 sale, the chief executive officer directly owned 584,053 shares in the company, valued at $4,444,643.33. This represents a 20.43% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Nicholas S. Schorsch sold 300,000 shares of the stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $7.33, for a total transaction of $2,199,000.00. Following the sale, the insider owned 19,607,384 shares in the company, valued at approximately $143,722,124.72. This trade represents a 1.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,553,000 shares of company stock worth $56,115,790. 0.37% of the stock is owned by company insiders.

Global Net Lease Trading Down 0.4%

Shares of GNL stock traded down $0.03 during trading hours on Tuesday, hitting $7.71. The company had a trading volume of 1,603,496 shares, compared to its average volume of 1,624,962. The company's fifty day moving average is $7.41 and its 200 day 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 fifty-two week low of $6.51 and a fifty-two week high of $9.10. The stock has a market capitalization of $1.70 billion, a PE ratio of -5.35 and a beta of 1.20.

Global Net Lease (NYSE:GNL - Get Free Report) last released its earnings results on Wednesday, August 6th. The financial services provider reported $0.24 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.20 by $0.04. The company had revenue of $124.91 million for the quarter, compared to analyst estimates of $138.38 million. Global Net Lease had a negative net margin of 43.75% and a negative return on equity of 9.71%. Research analysts expect that Global Net Lease, Inc. will post 1.26 earnings per share for the current fiscal year.

Global Net Lease Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 16th. Shareholders of record on Friday, July 11th were issued a dividend of $0.19 per share. The ex-dividend date was Friday, July 11th. This represents a $0.76 dividend on an annualized basis and a yield of 9.9%. Global Net Lease's dividend payout ratio is -52.78%.

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.