CastleKnight Management LP Lowers Holdings in Global Net Lease, Inc. (NYSE:GNL)

CastleKnight Management LP lowered its position in Global Net Lease, Inc. (NYSE:GNL - Free Report) by 6.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 538,745 shares of the financial services provider's stock after selling 35,900 shares during the period. CastleKnight Management LP owned 0.23% of Global Net Lease worth $3,933,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in GNL. Helix Partners Management LP purchased a new stake in Global Net Lease in the 4th quarter valued at about $24,455,000. JPMorgan Chase & Co. lifted its holdings in Global Net Lease by 107.3% during the fourth quarter. JPMorgan Chase & Co. now owns 1,269,118 shares of the financial services provider's stock valued at $9,265,000 after purchasing an additional 656,890 shares during the last quarter. Marshall Wace LLP bought a new position in Global Net Lease in the 4th quarter worth approximately $4,021,000. Northern Trust Corp raised its stake in shares of Global Net Lease by 26.3% during the 4th quarter. Northern Trust Corp now owns 2,612,357 shares of the financial services provider's stock valued at $19,070,000 after purchasing an additional 544,719 shares during the period. Finally, Invesco Ltd. boosted its position in shares of Global Net Lease by 14.8% in the fourth quarter. Invesco Ltd. now owns 3,575,498 shares of the financial services provider's stock valued at $26,101,000 after acquiring an additional 461,173 shares during the period. 61.19% of the stock is owned by institutional investors.

Insider Activity at Global Net Lease

In other news, major shareholder Nicholas S. Schorsch sold 200,000 shares of the stock in a transaction that occurred on Thursday, April 3rd. The shares were sold at an average price of $7.95, for a total value of $1,590,000.00. Following the transaction, the insider now owns 1,629,073 shares in the company, valued at $12,951,130.35. This represents a 10.93 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.37% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Separately, B. Riley started coverage on shares of Global Net Lease in a report on Tuesday, April 22nd. They issued a "neutral" rating and a $8.00 price target on the stock. Three analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $9.00.

Global Net Lease Stock Up 2.5 %

Shares of GNL stock traded up $0.20 during midday trading on Friday, reaching $8.05. 2,125,009 shares of the stock were exchanged, compared to its average volume of 1,526,843. Global Net Lease, Inc. has a 1 year low of $6.51 and a 1 year high of $9.11. The firm has a market cap of $1.84 billion, a PE ratio of -8.56 and a beta of 1.22. The company's 50 day moving average is $7.67 and its two-hundred day moving average is $7.47. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 0.70.

Global Net Lease (NYSE:GNL - Get Free Report) last announced its earnings results on Wednesday, May 7th. The financial services provider reported $0.29 earnings per share for the quarter, beating analysts' consensus estimates of $0.23 by $0.06. The business had revenue of $132.42 million during the quarter, compared to the consensus estimate of $187.40 million. Global Net Lease had a negative net margin of 21.37% and a negative return on equity of 7.04%. On average, equities research analysts predict that Global Net Lease, Inc. will post 1.26 EPS for the current year.

Global Net Lease Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 16th. Stockholders of record on Friday, April 11th were paid a $0.19 dividend. The ex-dividend date was Friday, April 11th. This represents a $0.76 annualized dividend and a dividend yield of 9.44%. Global Net Lease's dividend payout ratio is presently -100.00%.

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.