Global Net Lease, Inc. $GNL Shares Sold by Northern Trust Corp

Northern Trust Corp trimmed its stake in shares of Global Net Lease, Inc. (NYSE:GNL - Free Report) by 1.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,579,677 shares of the financial services provider's stock after selling 32,680 shares during the quarter. Northern Trust Corp owned 1.13% of Global Net Lease worth $20,741,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Allworth Financial LP grew its stake in Global Net Lease by 15.8% during the 1st quarter. Allworth Financial LP now owns 11,940 shares of the financial services provider's stock worth $89,000 after purchasing an additional 1,626 shares in the last quarter. Harbour Investments Inc. grew its stake in Global Net Lease by 4.4% during the 1st quarter. Harbour Investments Inc. now owns 40,616 shares of the financial services provider's stock worth $327,000 after purchasing an additional 1,723 shares in the last quarter. Arrow Investment Advisors LLC increased its holdings in shares of Global Net Lease by 10.6% in the 1st quarter. Arrow Investment Advisors LLC now owns 21,039 shares of the financial services provider's stock valued at $169,000 after acquiring an additional 2,012 shares during the last quarter. Arkadios Wealth Advisors increased its holdings in shares of Global Net Lease by 4.9% in the 1st quarter. Arkadios Wealth Advisors now owns 62,863 shares of the financial services provider's stock valued at $505,000 after acquiring an additional 2,918 shares during the last quarter. Finally, Money Concepts Capital Corp increased its holdings in shares of Global Net Lease by 5.4% in the 1st quarter. Money Concepts Capital Corp now owns 58,517 shares of the financial services provider's stock valued at $470,000 after acquiring an additional 3,011 shares during the last quarter. 61.19% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Edward M. Jr. Weil sold 150,000 shares of the firm's stock in a transaction that occurred on Thursday, July 10th. The stock was sold at an average price of $7.61, for a total transaction of $1,141,500.00. Following the transaction, the chief executive officer owned 584,053 shares in the company, valued at $4,444,643.33. This trade represents a 20.43% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Nicholas S. Schorsch sold 7,103,000 shares of the firm's stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $7.43, for a total value of $52,775,290.00. Following the transaction, the insider owned 19,907,384 shares in the company, valued at $147,911,863.12. This represents a 26.30% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 7,553,000 shares of company stock worth $56,115,790 in the last 90 days. 0.37% of the stock is currently owned by company insiders.

Global Net Lease Stock Performance

NYSE:GNL traded up $0.11 during mid-day trading on Friday, reaching $8.04. 1,247,977 shares of the stock were exchanged, compared to its average volume of 1,210,350. The company has a 50 day simple moving average of $7.47 and a 200-day simple moving average of $7.59. The stock has a market capitalization of $1.78 billion, a P/E ratio of -5.58 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. Global Net Lease, Inc. has a 1 year low of $6.51 and a 1 year high of $9.10.

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 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.20 by $0.04. The firm had revenue of $124.91 million for the quarter, compared to the consensus estimate of $138.38 million. Global Net Lease had a negative return on equity of 9.71% and a negative net margin of 43.75%. Analysts anticipate that Global Net Lease, Inc. will post 1.26 earnings per share for the current fiscal year.

Global Net Lease Dividend Announcement

The company also recently declared 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 yield of 9.5%. The ex-dividend date was Friday, July 11th. Global Net Lease's dividend payout ratio (DPR) is currently -52.78%.

Analyst Ratings Changes

A number of research analysts have recently commented on GNL shares. Colliers Securities upgraded 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. KeyCorp upgraded 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. Wall Street Zen upgraded Global Net Lease from a "sell" rating to a "hold" rating in a report on Friday, August 22nd. Finally, JMP Securities reiterated a "market outperform" rating and issued a $9.00 price objective on shares of Global Net Lease in a report on Thursday, June 12th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $9.20.

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.