Geneos Wealth Management Inc. Sells 1,751 Shares of Global Net Lease, Inc. (NYSE:GNL)

Geneos Wealth Management Inc. decreased its holdings in Global Net Lease, Inc. (NYSE:GNL) by 7.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,424 shares of the financial services provider’s stock after selling 1,751 shares during the period. Geneos Wealth Management Inc.’s holdings in Global Net Lease were worth $213,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Raymond James & Associates increased its holdings in Global Net Lease by 11.8% in the 1st quarter. Raymond James & Associates now owns 74,749 shares of the financial services provider’s stock worth $1,176,000 after buying an additional 7,886 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Global Net Lease by 4.5% during the 1st quarter. Bank of New York Mellon Corp now owns 1,145,077 shares of the financial services provider’s stock valued at $18,013,000 after acquiring an additional 48,896 shares during the last quarter. Bank of Montreal Can grew its stake in shares of Global Net Lease by 5.3% in the first quarter. Bank of Montreal Can now owns 31,150 shares of the financial services provider’s stock worth $491,000 after acquiring an additional 1,581 shares during the period. MetLife Investment Management LLC raised its holdings in shares of Global Net Lease by 57.8% during the first quarter. MetLife Investment Management LLC now owns 54,350 shares of the financial services provider’s stock valued at $855,000 after purchasing an additional 19,899 shares during the last quarter. Finally, Rhumbline Advisers raised its holdings in shares of Global Net Lease by 1.6% during the first quarter. Rhumbline Advisers now owns 317,198 shares of the financial services provider’s stock valued at $4,990,000 after purchasing an additional 5,102 shares during the last quarter. Hedge funds and other institutional investors own 61.19% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on GNL. BMO Capital Markets began coverage on shares of Global Net Lease in a report on Tuesday, February 13th. They issued an “outperform” rating and a $11.00 target price on the stock. BTIG Research lowered Global Net Lease from a “buy” rating to a “neutral” rating in a report on Friday, March 8th. Finally, Truist Financial initiated coverage on Global Net Lease in a report on Thursday, March 28th. They issued a “hold” rating and a $7.00 target price on the stock. One analyst has rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $12.00.

Global Net Lease Trading Down 0.7 %

Shares of Global Net Lease stock opened at $6.78 on Monday. Global Net Lease, Inc. has a 1-year low of $6.74 and a 1-year high of $11.83. The company’s fifty day simple moving average is $7.58 and its 200-day simple moving average is $8.43. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.05 and a quick ratio of 0.05. The stock has a market capitalization of $1.56 billion, a PE ratio of -3.92, a P/E/G ratio of 0.87 and a beta of 1.34.

Global Net Lease Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 16th. Investors of record on Thursday, April 11th will be given a dividend of $0.275 per share. The ex-dividend date is Wednesday, April 10th. This is an increase from Global Net Lease’s previous quarterly dividend of $0.06. This represents a $1.10 annualized dividend and a yield of 16.22%. Global Net Lease’s payout ratio is -63.58%.

Insider Buying and Selling at Global Net Lease

In other news, major shareholder Nicholas S. Schorsch sold 176,577 shares of the firm’s stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $9.04, for a total value of $1,596,256.08. Following the transaction, the insider now owns 4,078,465 shares of the company’s stock, valued at $36,869,323.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Global Net Lease news, major shareholder Nicholas S. Schorsch sold 176,577 shares of Global Net Lease stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $9.04, for a total transaction of $1,596,256.08. Following the transaction, the insider now owns 4,078,465 shares of the company’s stock, valued at $36,869,323.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Nicholas S. Schorsch sold 150,000 shares of the stock in a transaction on Friday, January 19th. The stock was sold at an average price of $8.90, for a total transaction of $1,335,000.00. Following the completion of the sale, the insider now directly owns 4,255,042 shares of the company’s stock, valued at $37,869,873.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 351,414 shares of company stock valued at $3,154,305. Company insiders own 0.22% of the company’s stock.

Global Net Lease Profile

Global Net Lease, Inc (NYSE: GNL) is a publicly traded real estate investment trust listed on the NYSE 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.