Global Net Lease, Inc. (NYSE:GNL) Shares Sold by Rhumbline Advisers

Rhumbline Advisers cut its holdings in shares of Global Net Lease, Inc. (NYSE:GNL) by 4.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 665,093 shares of the financial services provider’s stock after selling 30,211 shares during the quarter. Rhumbline Advisers owned 0.29% of Global Net Lease worth $5,347,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. BTC Capital Management Inc. acquired a new stake in Global Net Lease during the 1st quarter worth approximately $317,000. GAMMA Investing LLC lifted its holdings in Global Net Lease by 704.3% during the 1st quarter. GAMMA Investing LLC now owns 21,989 shares of the financial services provider’s stock worth $177,000 after buying an additional 19,255 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in Global Net Lease by 15.8% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 45,704 shares of the financial services provider’s stock worth $334,000 after buying an additional 6,250 shares in the last quarter. Centaurus Financial Inc. lifted its holdings in Global Net Lease by 20.5% during the 4th quarter. Centaurus Financial Inc. now owns 22,357 shares of the financial services provider’s stock worth $163,000 after buying an additional 3,809 shares in the last quarter. Finally, Ameriflex Group Inc. acquired a new stake in Global Net Lease during the 4th quarter worth approximately $25,000. 61.19% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Global Net Lease

In other Global Net Lease news, major shareholder Nicholas S. Schorsch sold 100,000 shares of the firm’s stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $7.99, for a total transaction of $799,000.00. Following the transaction, the insider now directly owns 1,529,073 shares of the company’s stock, valued at approximately $12,217,293.27. This trade represents a 6.14% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.37% of the company’s stock.

Global Net Lease Trading Down 2.5%

Shares of NYSE:GNL opened at $7.49 on Friday. Global Net Lease, Inc. has a 52 week low of $6.51 and a 52 week high of $9.11. The company’s 50 day moving average is $7.59 and its two-hundred day moving average is $7.49. 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 cap of $1.71 billion, a PE ratio of -7.97 and a beta of 1.22.

Global Net Lease (NYSE:GNL) last announced its quarterly earnings data on Wednesday, May 7th. The financial services provider reported $0.29 EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $132.42 million for the quarter, compared to the consensus estimate of $187.40 million. Equities analysts predict that Global Net Lease, Inc. will post 1.26 earnings per share for the current fiscal year.

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 given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 10.15%. The ex-dividend date was Friday, April 11th. Global Net Lease’s dividend payout ratio (DPR) is -51.35%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. B. Riley assumed coverage on shares of Global Net Lease in a report on Tuesday, April 22nd. They set a “neutral” rating and a $8.00 target price on the stock. JMP Securities reissued a “market outperform” rating and issued a $9.00 price objective on shares of Global Net Lease in a research report on Thursday. Three research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Global Net Lease has an average rating of “Moderate Buy” and a consensus target price of $9.00.

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.