M&T Bank Corp Raises Position in Global Net Lease, Inc. (NYSE:GNL)

M&T Bank Corp boosted its position in shares of Global Net Lease, Inc. (NYSE:GNL) by 185.8% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 34,749 shares of the financial services provider’s stock after purchasing an additional 22,590 shares during the quarter. M&T Bank Corp’s holdings in Global Net Lease were worth $279,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Invesco Ltd. increased its stake in shares of Global Net Lease by 14.8% in the 4th quarter. Invesco Ltd. now owns 3,575,498 shares of the financial services provider’s stock valued at $26,101,000 after purchasing an additional 461,173 shares in the last quarter. Helix Partners Management LP purchased a new position in Global Net Lease in the fourth quarter valued at $24,455,000. Northern Trust Corp boosted its stake in Global Net Lease by 26.3% in the fourth quarter. Northern Trust Corp now owns 2,612,357 shares of the financial services provider’s stock valued at $19,070,000 after acquiring an additional 544,719 shares in the last quarter. Brown Advisory Inc. boosted its stake in shares of Global Net Lease by 0.9% during the first quarter. Brown Advisory Inc. now owns 2,305,031 shares of the financial services provider’s stock worth $18,532,000 after buying an additional 20,450 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Global Net Lease by 7.1% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,132,709 shares of the financial services provider’s stock worth $15,569,000 after purchasing an additional 141,845 shares in the last quarter. Institutional investors own 61.19% of the company’s stock.

Wall Street Analysts Forecast Growth

GNL has been the subject of a number of recent research reports. B. Riley started coverage on shares of Global Net Lease in a research note on Tuesday, April 22nd. They set a “neutral” rating and a $8.00 price objective for the company. JMP Securities reissued a “market outperform” rating and issued a $9.00 target price 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, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $8.33.

Insider Buying and Selling at Global Net Lease

In related news, insider Nicholas S. Schorsch sold 7,103,000 shares of the company’s stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $7.43, for a total value of $52,775,290.00. Following the transaction, the insider directly owned 19,907,384 shares in the company, valued at approximately $147,911,863.12. This represents a 26.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Edward M. Jr. Weil sold 150,000 shares of the company’s stock in a transaction dated Thursday, July 10th. The stock was sold at an average price of $7.61, for a total transaction of $1,141,500.00. Following the sale, the chief executive officer directly owned 584,053 shares of the company’s stock, valued at $4,444,643.33. This represents a 20.43% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 7,653,000 shares of company stock worth $56,914,790. Corporate insiders own 0.37% of the company’s stock.

Global Net Lease Stock Performance

NYSE:GNL opened at $7.19 on Friday. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 0.76. Global Net Lease, Inc. has a 1 year low of $6.51 and a 1 year high of $9.11. The firm’s fifty day simple moving average is $7.63 and its 200 day simple moving average is $7.53. The firm has a market capitalization of $1.64 billion, a PE ratio of -4.86 and a beta of 1.19.

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, topping the consensus estimate 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 business had revenue of $132.42 million for the quarter, compared to analyst estimates of $187.40 million. On average, sell-side analysts anticipate that Global Net Lease, Inc. will post 1.26 EPS for the current year.

Global Net Lease Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 16th. Shareholders of record on Friday, July 11th were issued a $0.19 dividend. The ex-dividend date was Friday, July 11th. This represents a $0.76 annualized dividend and a dividend yield of 10.57%. Global Net Lease’s dividend payout ratio is currently -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.