Mercer Global Advisors Inc. ADV Sells 7,216 Shares of Global Net Lease, Inc. (NYSE:GNL)

Mercer Global Advisors Inc. ADV trimmed its holdings in shares of Global Net Lease, Inc. (NYSE:GNL) by 41.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,224 shares of the financial services provider’s stock after selling 7,216 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in Global Net Lease were worth $75,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Northern Trust Corp lifted its position in shares of Global Net Lease by 26.3% during the fourth quarter. Northern Trust Corp now owns 2,612,357 shares of the financial services provider’s stock worth $19,070,000 after purchasing an additional 544,719 shares during the last quarter. Beacon Pointe Advisors LLC lifted its position in shares of Global Net Lease by 82.0% during the fourth quarter. Beacon Pointe Advisors LLC now owns 48,475 shares of the financial services provider’s stock worth $354,000 after purchasing an additional 21,845 shares during the last quarter. Coldstream Capital Management Inc. bought a new stake in shares of Global Net Lease during the fourth quarter worth $73,000. Syon Capital LLC lifted its position in shares of Global Net Lease by 155.7% during the fourth quarter. Syon Capital LLC now owns 43,484 shares of the financial services provider’s stock worth $317,000 after purchasing an additional 26,481 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of Global Net Lease by 16.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 147,400 shares of the financial services provider’s stock worth $1,077,000 after purchasing an additional 21,052 shares during the last quarter. 61.19% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Global Net Lease news, major shareholder Nicholas S. Schorsch sold 200,000 shares of the business’s stock in a transaction dated Thursday, April 3rd. The shares were sold at an average price of $7.95, for a total value of $1,590,000.00. Following the completion of the transaction, the insider now directly owns 1,629,073 shares in the company, valued at approximately $12,951,130.35. The trade was a 10.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.37% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Separately, B. Riley assumed coverage on Global Net Lease in a report on Tuesday, April 22nd. They issued 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 issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Global Net Lease presently has an average rating of “Moderate Buy” and an average target price of $9.00.

Global Net Lease Stock Performance

GNL stock opened at $8.00 on Friday. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.06 and a quick ratio of 0.06. The business has a 50-day moving average price of $7.66 and a 200 day moving average price of $7.47. The company has a market capitalization of $1.83 billion, a P/E ratio of -8.51 and a beta of 1.22. Global Net Lease, Inc. has a 1-year low of $6.51 and a 1-year high of $9.11.

Global Net Lease (NYSE:GNL) last released its quarterly earnings data on Wednesday, May 7th. The financial services provider reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.06. The firm had revenue of $132.42 million during the quarter, compared to the consensus estimate of $187.40 million. Global Net Lease had a negative return on equity of 7.04% and a negative net margin of 21.37%. As a group, equities research analysts forecast that Global Net Lease, Inc. will post 1.26 EPS for the current fiscal year.

Global Net Lease Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 16th. Shareholders of record on Friday, April 11th were issued a $0.19 dividend. The ex-dividend date of this dividend was Friday, April 11th. This represents a $0.76 dividend on an annualized basis and a yield of 9.51%. Global Net Lease’s dividend payout ratio is presently -51.35%.

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.