State of Alaska Department of Revenue Sells 1,608 Shares of Global Net Lease, Inc. (NYSE:GNL)

State of Alaska Department of Revenue trimmed its position in Global Net Lease, Inc. (NYSE:GNL) by 0.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 207,087 shares of the financial services provider’s stock after selling 1,608 shares during the quarter. State of Alaska Department of Revenue owned 0.09% of Global Net Lease worth $1,664,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in GNL. Van ECK Associates Corp increased its stake in shares of Global Net Lease by 10.4% in the fourth quarter. Van ECK Associates Corp now owns 38,101 shares of the financial services provider’s stock worth $278,000 after buying an additional 3,594 shares during the period. Rhumbline Advisers increased its stake in shares of Global Net Lease by 3.3% in the fourth quarter. Rhumbline Advisers now owns 695,304 shares of the financial services provider’s stock worth $5,076,000 after buying an additional 22,390 shares during the period. Allworth Financial LP increased 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 buying an additional 6,310 shares during the period. State of New Jersey Common Pension Fund D purchased a new position in shares of Global Net Lease in the fourth quarter worth $657,000. Finally, Principal Financial Group Inc. increased its stake in shares of Global Net Lease by 3.0% in the fourth quarter. Principal Financial Group Inc. now owns 960,682 shares of the financial services provider’s stock worth $7,013,000 after buying an additional 27,564 shares during the period. 61.19% of the stock is owned by hedge funds and other institutional investors.

Global Net Lease Stock Up 2.4%

Shares of Global Net Lease stock opened at $7.65 on Tuesday. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 0.76. The company’s fifty day simple moving average is $7.64 and its two-hundred day simple moving average is $7.49. The company has a market cap of $1.75 billion, a P/E ratio of -5.17 and a beta of 1.23. Global Net Lease, Inc. has a 12-month low of $6.51 and a 12-month high of $9.11.

Global Net Lease (NYSE:GNL) last announced its earnings results 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 40.64% and a negative return on equity of 9.23%. The firm had revenue of $132.42 million for the quarter, compared to analysts’ expectations of $187.40 million. Research analysts anticipate that Global Net Lease, Inc. will post 1.26 EPS for the current year.

Global Net Lease Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 16th. Stockholders of record on Friday, April 11th were issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 9.93%. The ex-dividend date was Friday, April 11th. Global Net Lease’s dividend payout ratio (DPR) is presently -51.35%.

Wall Street Analyst Weigh In

Several brokerages recently commented on GNL. B. Riley began coverage on shares of Global Net Lease in a research note on Tuesday, April 22nd. They issued a “neutral” rating and a $8.00 target price on the stock. JMP Securities reissued a “market outperform” rating and set a $9.00 price objective on shares of Global Net Lease in a research report on Thursday, June 12th. Three equities 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 data from MarketBeat.com, Global Net Lease has a consensus rating of “Moderate Buy” and an average price target of $9.00.

Insider Activity

In other Global Net Lease news, major shareholder Nicholas S. Schorsch sold 200,000 shares of Global Net Lease 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 of the company’s stock, 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 filing with the Securities & Exchange Commission, which is accessible through this link. In the last 90 days, insiders have sold 7,703,000 shares of company stock worth $57,363,290. Corporate 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.