Northern Trust Corp Purchases 544,719 Shares of Global Net Lease, Inc. (NYSE:GNL)

Northern Trust Corp boosted its position in shares of Global Net Lease, Inc. (NYSE:GNL - Free Report) by 26.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,612,357 shares of the financial services provider's stock after acquiring an additional 544,719 shares during the period. Northern Trust Corp owned 1.13% of Global Net Lease worth $19,070,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. US Bancorp DE lifted its position in Global Net Lease by 363.2% during the 4th quarter. US Bancorp DE now owns 6,072 shares of the financial services provider's stock worth $44,000 after acquiring an additional 4,761 shares during the last quarter. Creative Financial Designs Inc. ADV raised its position 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 buying an additional 3,624 shares during the last quarter. Coldstream Capital Management Inc. acquired a new position in shares of Global Net Lease during the fourth quarter valued at about $73,000. Allworth Financial LP raised its position in shares of Global Net Lease by 157.6% during the fourth quarter. Allworth Financial LP now owns 10,314 shares of the financial services provider's stock valued at $74,000 after buying an additional 6,310 shares during the last quarter. Finally, HB Wealth Management LLC acquired a new position in shares of Global Net Lease during the fourth quarter valued at about $81,000. Institutional investors and hedge funds own 61.19% of the company's stock.

Global Net Lease Price Performance

NYSE:GNL traded down $0.10 during mid-day trading on Monday, hitting $7.88. The company's stock had a trading volume of 1,289,828 shares, compared to its average volume of 1,537,939. Global Net Lease, Inc. has a fifty-two week low of $6.51 and a fifty-two 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. The company has a market capitalization of $1.80 billion, a price-to-earnings ratio of -8.38 and a beta of 1.22. The stock has a fifty day moving average of $7.66 and a 200-day moving average of $7.47.

Global Net Lease (NYSE:GNL - Get Free Report) last posted its quarterly earnings results 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. Global Net Lease had a negative net margin of 21.37% and a negative return on equity of 7.04%. The firm had revenue of $132.42 million during the quarter, compared to analyst estimates of $187.40 million. As a group, equities analysts forecast that Global Net Lease, Inc. will post 1.26 EPS for the current fiscal year.

Global Net Lease Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 16th. Investors of record on Friday, April 11th were given a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 9.64%. The ex-dividend date of this dividend was Friday, April 11th. Global Net Lease's dividend payout ratio (DPR) is presently -51.35%.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In other Global Net Lease news, major shareholder Nicholas S. Schorsch sold 100,000 shares of the company's stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $7.99, for a total transaction of $799,000.00. Following the sale, the insider now directly owns 1,529,073 shares of the company's stock, valued at approximately $12,217,293.27. This represents a 6.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.37% of the company's stock.

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.