Balyasny Asset Management L.P. reduced its stake in Global Net Lease, Inc. (NYSE:GNL - Free Report) by 3.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,357,067 shares of the financial services provider's stock after selling 77,888 shares during the period. Balyasny Asset Management L.P. owned approximately 1.02% of Global Net Lease worth $17,207,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Barclays PLC raised its stake in Global Net Lease by 312.3% in the third quarter. Barclays PLC now owns 339,701 shares of the financial services provider's stock valued at $2,859,000 after buying an additional 257,310 shares in the last quarter. Virtu Financial LLC acquired a new position in Global Net Lease in the third quarter valued at $114,000. JPMorgan Chase & Co. boosted its holdings in Global Net Lease by 31.8% in 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 last quarter. Arkadios Wealth Advisors boosted its holdings in Global Net Lease by 8.6% in the fourth quarter. Arkadios Wealth Advisors now owns 59,945 shares of the financial services provider's stock valued at $438,000 after acquiring an additional 4,724 shares during the last quarter. Finally, HB Wealth Management LLC acquired a new stake in Global Net Lease in the 4th quarter valued at $81,000. 61.19% of the stock is currently owned by institutional investors and hedge funds.
Insider Transactions at Global Net Lease
In other Global Net Lease news, major shareholder Nicholas S. Schorsch sold 200,000 shares of the company's stock in a transaction on Thursday, April 3rd. The stock was sold at an average price of $7.95, for a total transaction of $1,590,000.00. Following the transaction, the insider now owns 1,629,073 shares of the company's stock, valued at approximately $12,951,130.35. This represents a 10.93% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.37% of the stock is owned by company insiders.
Global Net Lease Stock Performance
Global Net Lease stock traded down $0.03 during mid-day trading on Tuesday, hitting $7.96. 415,751 shares of the company's stock traded hands, compared to its average volume of 1,523,797. The firm has a 50 day moving average price of $7.66 and a 200 day moving average price of $7.47. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 0.70. The company has a market cap of $1.82 billion, a PE ratio of -8.47 and a beta of 1.22. 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 released its earnings results on Wednesday, May 7th. The financial services provider reported $0.29 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.23 by $0.06. The company had revenue of $132.42 million during the quarter, compared to analyst estimates of $187.40 million. Global Net Lease had a negative return on equity of 7.04% and a negative net margin of 21.37%. On average, equities analysts forecast that Global Net Lease, Inc. will post 1.26 EPS for the current year.
Global Net Lease Cuts Dividend
The business also recently disclosed 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 of this dividend was Friday, April 11th. This represents a $0.76 annualized dividend and a dividend yield of 9.55%. Global Net Lease's dividend payout ratio is currently -51.35%.
Wall Street Analysts Forecast Growth
Separately, B. Riley began coverage on 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 research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $9.00.
Read Our Latest Stock Analysis on Global Net Lease
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.
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