Envestnet Asset Management Inc. Sells 1,707 Shares of Global Net Lease, Inc. (NYSE:GNL)

Envestnet Asset Management Inc. cut its position in Global Net Lease, Inc. (NYSE:GNL) by 7.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 22,407 shares of the financial services provider’s stock after selling 1,707 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Global Net Lease were worth $164,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of GNL. US Bancorp DE grew its holdings 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 lifted 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 worth $49,000 after purchasing an additional 3,624 shares during the period. Allworth Financial LP grew its stake in shares of Global Net Lease by 157.6% in the fourth quarter. Allworth Financial LP now owns 10,314 shares of the financial services provider’s stock worth $74,000 after purchasing an additional 6,310 shares during the last quarter. HB Wealth Management LLC acquired a new stake in Global Net Lease in the fourth quarter valued at $81,000. Finally, Inceptionr LLC bought a new position in Global Net Lease during the 4th quarter worth $84,000. 61.19% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, B. Riley assumed coverage on Global Net Lease in a research note on Tuesday, April 22nd. They issued a “neutral” rating and a $8.00 price objective on the stock. Three research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $9.00.

Insiders Place Their Bets

In other news, major shareholder Nicholas S. Schorsch sold 200,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 3rd. The shares were sold at an average price of $7.95, for a total transaction of $1,590,000.00. Following the completion of the sale, 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 position. The sale was disclosed in a filing with the SEC, which is available through this link. 0.37% of the stock is currently owned by corporate insiders.

Global Net Lease Stock Performance

Shares of GNL opened at $7.86 on Friday. 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 firm’s fifty day simple moving average is $7.67 and its two-hundred day simple moving average is $7.48. Global Net Lease, Inc. has a 12 month low of $6.51 and a 12 month high of $9.11. The stock has a market capitalization of $1.80 billion, a P/E ratio of -8.36 and a beta of 1.22.

Global Net Lease Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 16th. Investors of record on Friday, April 11th were paid a dividend of $0.19 per share. The ex-dividend date of this dividend was Friday, April 11th. This represents a $0.76 annualized dividend and a yield of 9.68%. Global Net Lease’s dividend payout ratio is currently -100.00%.

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.