Global Net Lease, Inc. $GNL Position Lessened by Vanguard Group Inc.

Key Points

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Vanguard Group Inc. reduced its position in shares of Global Net Lease, Inc. (NYSE:GNL - Free Report) by 1.0% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 30,326,533 shares of the financial services provider's stock after selling 319,713 shares during the quarter. Vanguard Group Inc. owned about 13.26% of Global Net Lease worth $243,825,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Northern Trust Corp grew its position in Global Net Lease by 26.3% in the fourth quarter. Northern Trust Corp now owns 2,612,357 shares of the financial services provider's stock worth $19,070,000 after buying an additional 544,719 shares during the last quarter. Principal Financial Group Inc. grew its position in Global Net Lease by 2.7% in the first quarter. Principal Financial Group Inc. now owns 986,423 shares of the financial services provider's stock worth $7,931,000 after buying an additional 25,741 shares during the last quarter. Allianz Asset Management GmbH grew its position in Global Net Lease by 177.1% in the first quarter. Allianz Asset Management GmbH now owns 386,718 shares of the financial services provider's stock worth $3,109,000 after buying an additional 247,140 shares during the last quarter. M&T Bank Corp grew its position in Global Net Lease by 185.8% in the first quarter. M&T Bank Corp now owns 34,749 shares of the financial services provider's stock worth $279,000 after buying an additional 22,590 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Global Net Lease in the first quarter worth approximately $355,000. 61.19% of the stock is owned by institutional investors.

Global Net Lease Stock Up 1.1%

NYSE:GNL traded up $0.0890 during trading hours on Friday, hitting $7.8490. 1,306,357 shares of the stock traded hands, compared to its average volume of 1,663,371. The firm has a 50 day moving average price of $7.39 and a 200 day moving average price of $7.54. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.90. Global Net Lease, Inc. has a fifty-two week low of $6.51 and a fifty-two week high of $9.10. The firm has a market cap of $1.73 billion, a price-to-earnings ratio of -5.45 and a beta of 1.20.

Global Net Lease (NYSE:GNL - Get Free Report) last announced its earnings results on Wednesday, August 6th. The financial services provider reported $0.24 earnings per share (EPS) for the quarter, beating 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 company had revenue of $124.91 million for the quarter, compared to the consensus estimate of $138.38 million. Equities research analysts anticipate that Global Net Lease, Inc. will post 1.26 earnings per share for the current year.

Global Net Lease Dividend Announcement

The company also recently announced 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 annualized dividend and a yield of 9.7%. The ex-dividend date of this dividend was Friday, July 11th. Global Net Lease's payout ratio is -52.78%.

Insiders Place Their Bets

In other news, insider Nicholas S. Schorsch sold 7,103,000 shares of the company's stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $7.43, for a total value of $52,775,290.00. Following the transaction, the insider directly owned 19,907,384 shares of the company's stock, valued at approximately $147,911,863.12. This represents a 26.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed 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 value of $1,141,500.00. Following the sale, the chief executive officer owned 584,053 shares of the company's stock, valued at approximately $4,444,643.33. This represents a 20.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,553,000 shares of company stock worth $56,115,790 over the last ninety days. 0.37% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

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

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.