Hsbc Holdings PLC Lowers Stock Holdings in Global Net Lease, Inc. (NYSE:GNL)

Hsbc Holdings PLC lowered its stake in Global Net Lease, Inc. (NYSE:GNL - Free Report) by 6.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,647,798 shares of the financial services provider's stock after selling 271,669 shares during the period. Hsbc Holdings PLC owned 1.58% of Global Net Lease worth $26,419,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in GNL. US Bancorp DE raised its holdings in Global Net Lease by 363.2% in the fourth quarter. US Bancorp DE now owns 6,072 shares of the financial services provider's stock worth $44,000 after purchasing an additional 4,761 shares in the last quarter. Creative Financial Designs Inc. ADV increased its holdings in shares of Global Net Lease by 119.4% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 6,659 shares of the financial services provider's stock valued at $49,000 after acquiring an additional 3,624 shares in the last quarter. McIlrath & Eck LLC purchased a new position in Global Net Lease in the third quarter worth about $67,000. Allworth Financial LP boosted its stake in Global Net Lease by 157.6% during the 4th quarter. Allworth Financial LP now owns 10,314 shares of the financial services provider's stock valued at $74,000 after purchasing an additional 6,310 shares during the last quarter. Finally, HB Wealth Management LLC bought a new stake in Global Net Lease in the 4th quarter worth about $81,000. 61.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Insider Activity at Global Net Lease

In other news, major shareholder Nicholas S. Schorsch sold 200,000 shares of the firm's stock in a transaction dated Thursday, April 3rd. The stock was 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 of the company's stock, valued at $12,951,130.35. This trade represents a 10.93 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.37% of the stock is owned by company insiders.

Global Net Lease Stock Performance

GNL stock traded up $0.02 during midday trading on Friday, reaching $7.50. 571,575 shares of the company's stock traded hands, compared to its average volume of 1,509,735. The stock's 50-day moving average is $7.69 and its 200 day moving average is $7.50. The stock has a market cap of $1.71 billion, a P/E ratio of -7.97 and a beta of 1.19. Global Net Lease, Inc. has a 52-week low of $6.51 and a 52-week high of $9.11. 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 Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 16th. Investors of record on Friday, April 11th were issued a $0.19 dividend. The ex-dividend date was Friday, April 11th. This represents a $0.76 dividend on an annualized basis and a yield of 10.14%. Global Net Lease's dividend payout ratio is currently -100.00%.

About Global Net Lease

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.