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

Other hedge funds have also bought and sold shares of the company. Northern Trust Corp lifted its holdings in Global Net Lease by 26.3% during the fourth quarter. Northern Trust Corp now owns 2,612,357 shares of the financial services provider's stock worth $19,070,000 after acquiring an additional 544,719 shares during the period. Principal Financial Group Inc. lifted its holdings in Global Net Lease by 2.7% during the first quarter. Principal Financial Group Inc. now owns 986,423 shares of the financial services provider's stock worth $7,931,000 after acquiring an additional 25,741 shares during the period. Allianz Asset Management GmbH lifted its holdings in Global Net Lease by 177.1% during the first quarter. Allianz Asset Management GmbH now owns 386,718 shares of the financial services provider's stock worth $3,109,000 after acquiring an additional 247,140 shares during the period. M&T Bank Corp lifted its holdings in Global Net Lease by 185.8% during the first quarter. M&T Bank Corp now owns 34,749 shares of the financial services provider's stock worth $279,000 after acquiring an additional 22,590 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Global Net Lease during the first quarter worth $355,000. 61.19% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, insider Nicholas S. Schorsch sold 300,000 shares of the business's stock in a transaction 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 directly owned 19,607,384 shares in the company, valued at approximately $143,722,124.72. The trade was a 1.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Edward M. Jr. Weil sold 150,000 shares of the business's stock in a transaction on Thursday, July 10th. The shares were sold at an average price of $7.61, for a total value of $1,141,500.00. Following the sale, the chief executive officer owned 584,053 shares in the company, valued at approximately $4,444,643.33. The trade was a 20.43% 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 currently owned by corporate insiders.

Global Net Lease Stock Performance

Shares of NYSE:GNL traded up $0.0890 during midday trading on Friday, reaching $7.8490. 1,306,357 shares of the company traded hands, compared to its average volume of 1,663,371. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.90. Global Net Lease, Inc. has a 12 month low of $6.51 and a 12 month high of $9.10. The firm has a market capitalization of $1.73 billion, a price-to-earnings ratio of -5.45 and a beta of 1.20. The firm's fifty day moving average price is $7.39 and its two-hundred day moving average price is $7.54.

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

Global Net Lease Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 16th. Investors 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 9.7%. The ex-dividend date was Friday, July 11th. Global Net Lease's payout ratio is presently -52.78%.

Analyst Ratings Changes

A number of analysts recently commented on the company. 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. JMP Securities restated a "market outperform" rating and issued a $9.00 target price on shares of Global Net Lease in a research note on Thursday, June 12th. Wall Street Zen upgraded Global Net Lease from a "sell" rating to a "hold" rating in a research note on Friday. Finally, Colliers Securities upgraded Global Net Lease from a "neutral" rating to a "buy" rating and set a $12.00 target price on the stock in a research note on Thursday, August 7th. 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 company. Based on data from MarketBeat, Global Net Lease currently has an average rating of "Moderate Buy" and an average target price of $9.20.

Global Net Lease 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.