PNC Financial Services Group Inc. Boosts Stake in Global Net Lease, Inc. $GNL

PNC Financial Services Group Inc. lifted its holdings in Global Net Lease, Inc. (NYSE:GNL) by 16.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,677 shares of the financial services provider’s stock after buying an additional 3,955 shares during the period. PNC Financial Services Group Inc.’s holdings in Global Net Lease were worth $231,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Jefferies Financial Group Inc. purchased a new position in shares of Global Net Lease in the first quarter worth about $93,000. Harbour Investments Inc. lifted its stake in shares of Global Net Lease by 4.4% in the first quarter. Harbour Investments Inc. now owns 40,616 shares of the financial services provider’s stock worth $327,000 after buying an additional 1,723 shares in the last quarter. Arkadios Wealth Advisors lifted its stake in shares of Global Net Lease by 4.9% in the first quarter. Arkadios Wealth Advisors now owns 62,863 shares of the financial services provider’s stock worth $505,000 after buying an additional 2,918 shares in the last quarter. XTX Topco Ltd purchased a new position in shares of Global Net Lease in the first quarter worth about $918,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Global Net Lease by 5.5% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 105,483 shares of the financial services provider’s stock worth $848,000 after buying an additional 5,509 shares in the last quarter. 61.19% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Global Net Lease

In other Global Net Lease news, insider Nicholas S. Schorsch sold 300,000 shares of Global Net Lease stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $7.33, for a total transaction of $2,199,000.00. Following the completion of the sale, the insider directly owned 19,607,384 shares in the company, valued at $143,722,124.72. This trade represents a 1.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Edward M. Jr. Weil sold 150,000 shares of Global Net Lease stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $7.61, for a total transaction of $1,141,500.00. Following the sale, the chief executive officer owned 584,053 shares of the company’s stock, valued at approximately $4,444,643.33. This represents a 20.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,553,000 shares of company stock valued at $56,115,790. Company insiders own 0.37% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Colliers Securities raised shares of Global Net Lease from a “neutral” rating to a “buy” rating and set a $12.00 target price on the stock in a research note on Thursday, August 7th. JMP Securities reaffirmed a “market outperform” rating and set a $9.00 target price on shares of Global Net Lease in a research note on Thursday, June 12th. Finally, B. Riley assumed coverage on shares of Global Net Lease in a research note on Tuesday, April 22nd. They set a “neutral” rating and a $8.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $9.25.

Global Net Lease Price Performance

Shares of GNL stock opened at $7.50 on Monday. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.13 and a quick ratio of 0.13. The firm’s 50-day moving average is $7.38 and its two-hundred day moving average is $7.53. Global Net Lease, Inc. has a 12 month low of $6.51 and a 12 month high of $9.10. The company has a market capitalization of $1.66 billion, a PE ratio of -5.21 and a beta of 1.20.

Global Net Lease (NYSE:GNL) last announced its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.04. Global Net Lease had a negative net margin of 43.75% and a negative return on equity of 9.71%. The business had revenue of $124.91 million during the quarter, compared to analysts’ expectations of $138.38 million. Analysts predict that Global Net Lease, Inc. will post 1.26 earnings per share for the current year.

Global Net Lease Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 16th. Shareholders of record on Friday, July 11th were given a dividend of $0.19 per share. The ex-dividend date was Friday, July 11th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 10.1%. Global Net Lease’s dividend payout ratio (DPR) is currently -52.78%.

About Global Net Lease

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.