MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Global Net Lease, Inc. (NYSE:GNL - Free Report) by 7.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,132,709 shares of the financial services provider's stock after buying an additional 141,845 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 0.92% of Global Net Lease worth $15,569,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of GNL. JPMorgan Chase & Co. lifted its holdings in shares of Global Net Lease by 31.8% during the third quarter. JPMorgan Chase & Co. now owns 612,228 shares of the financial services provider's stock valued at $5,155,000 after acquiring an additional 147,803 shares during the period. HB Wealth Management LLC bought a new position in Global Net Lease during the 4th quarter valued at about $81,000. PFG Investments LLC boosted its position in Global Net Lease by 177.2% in the fourth quarter. PFG Investments LLC now owns 86,497 shares of the financial services provider's stock valued at $631,000 after buying an additional 55,293 shares in the last quarter. Northern Trust Corp grew its stake 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 buying an additional 544,719 shares during the last quarter. Finally, Barclays PLC grew its stake in Global Net Lease by 312.3% during the third quarter. Barclays PLC now owns 339,701 shares of the financial services provider's stock worth $2,859,000 after buying an additional 257,310 shares during the last quarter. Institutional investors own 61.19% of the company's stock.
Insiders Place Their Bets
In other news, major shareholder Nicholas S. Schorsch sold 100,000 shares of the firm's stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $7.99, for a total value of $799,000.00. Following the transaction, the insider now owns 1,529,073 shares of the company's stock, valued at approximately $12,217,293.27. This trade represents a 6.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.37% of the company's stock.
Analyst Ratings Changes
Separately, B. Riley initiated coverage on shares of Global Net Lease in a research note on Tuesday, April 22nd. They issued a "neutral" rating and a $8.00 target price for the company. Three equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Global Net Lease currently has an average rating of "Moderate Buy" and a consensus target price of $9.00.
Get Our Latest Stock Report on GNL
Global Net Lease Price Performance
Shares of Global Net Lease stock traded down $0.10 during trading on Wednesday, reaching $7.67. The company's stock had a trading volume of 226,384 shares, compared to its average volume of 1,532,921. The stock has a 50-day moving average price of $7.66 and a two-hundred day moving average price of $7.47. The stock has a market capitalization of $1.75 billion, a P/E ratio of -8.15 and a beta of 1.22. 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, Inc. has a one year low of $6.51 and a one year high of $9.11.
Global Net Lease (NYSE:GNL - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The financial services provider reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.06. The firm had revenue of $132.42 million for the quarter, compared to the consensus estimate of $187.40 million. Global Net Lease had a negative return on equity of 7.04% and a negative net margin of 21.37%. As a group, sell-side analysts anticipate that Global Net Lease, Inc. will post 1.26 EPS for the current fiscal year.
Global Net Lease Cuts Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 16th. Investors of record on Friday, April 11th were given a $0.19 dividend. The ex-dividend date of this dividend was Friday, April 11th. This represents a $0.76 dividend on an annualized basis and a yield of 9.92%. Global Net Lease's payout ratio is -51.35%.
Global Net Lease Profile
(
Free Report)
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.
Featured Stories
Before you consider Global Net Lease, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Global Net Lease wasn't on the list.
While Global Net Lease currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Today, we are inviting you to take a free peek at our proprietary, exclusive, and up-to-the-minute list of 20 stocks that Wall Street's top analysts hate.
Many of these appear to have good fundamentals and might seem like okay investments, but something is wrong. Analysts smell something seriously rotten about these companies. These are true "Strong Sell" stocks.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
