Vanguard Group Inc. Decreases Holdings in Global Net Lease, Inc. $GNL

Key Points

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Vanguard Group Inc. reduced its position in Global Net Lease, Inc. (NYSE:GNL - Free Report) by 1.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 30,326,533 shares of the financial services provider's stock after selling 319,713 shares during the quarter. Vanguard Group Inc. owned 13.26% of Global Net Lease worth $243,825,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GNL. Wells Fargo & Company MN lifted its position in Global Net Lease by 33.8% during the fourth quarter. Wells Fargo & Company MN now owns 139,987 shares of the financial services provider's stock valued at $1,022,000 after purchasing an additional 35,344 shares during the period. Cerity Partners LLC grew its stake in shares of Global Net Lease by 8.1% in the 4th quarter. Cerity Partners LLC now owns 54,517 shares of the financial services provider's stock valued at $416,000 after buying an additional 4,082 shares during the period. Bank of Montreal Can boosted its position in shares of Global Net Lease by 10.6% during the 4th quarter. Bank of Montreal Can now owns 31,694 shares of the financial services provider's stock worth $231,000 after purchasing an additional 3,040 shares during the period. Renaissance Technologies LLC purchased a new position in shares of Global Net Lease during the 4th quarter worth approximately $593,000. Finally, Raymond James Financial Inc. purchased a new position in Global Net Lease in the 4th quarter valued at approximately $227,000. 61.19% of the stock is owned by hedge funds and other institutional investors.

Global Net Lease Stock Performance

NYSE:GNL opened at $7.49 on Tuesday. The firm has a 50 day simple moving average of $7.37 and a 200-day simple moving average of $7.53. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.13 and a quick ratio of 0.13. The firm has a market cap of $1.66 billion, a PE ratio of -5.20 and a beta of 1.20. 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 issued its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $0.24 EPS for the quarter, topping the consensus estimate of $0.20 by $0.04. Global Net Lease had a negative net margin of 43.75% and a negative return on equity of 9.71%. The firm had revenue of $124.91 million during the quarter, compared to analyst estimates of $138.38 million. On average, equities analysts expect that Global Net Lease, Inc. will post 1.26 EPS for the current year.

Global Net Lease Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 16th. Shareholders 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 10.1%. The ex-dividend date was Friday, July 11th. Global Net Lease's dividend payout ratio is -52.78%.

Insiders Place Their Bets

In other Global Net Lease news, insider Nicholas S. Schorsch sold 7,103,000 shares of the stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $7.43, for a total transaction of $52,775,290.00. Following the transaction, the insider directly owned 19,907,384 shares in the company, valued at $147,911,863.12. This represents a 26.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Edward M. Jr. Weil sold 150,000 shares of the stock in a transaction 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 sale, 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 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 over the last quarter. 0.37% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on GNL. 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. Colliers Securities raised 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. Finally, B. Riley assumed coverage on shares of Global Net Lease in a report on Tuesday, April 22nd. They issued a "neutral" rating and a $8.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $9.25.

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.

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