Charles Schwab Investment Management Inc. Reduces Holdings in Global Net Lease, Inc. $GNL

Charles Schwab Investment Management Inc. lessened its stake in Global Net Lease, Inc. (NYSE:GNL) by 0.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,132,493 shares of the financial services provider’s stock after selling 39,265 shares during the period. Charles Schwab Investment Management Inc. owned about 1.81% of Global Net Lease worth $33,225,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Northern Trust Corp boosted its holdings 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 worth $19,070,000 after purchasing an additional 544,719 shares during the period. Principal Financial Group Inc. boosted its holdings in Global Net Lease by 2.7% in the first quarter. Principal Financial Group Inc. now owns 986,423 shares of the financial services provider’s stock worth $7,931,000 after purchasing an additional 25,741 shares during the period. Allianz Asset Management GmbH boosted its holdings in Global Net Lease by 177.1% in the first quarter. Allianz Asset Management GmbH now owns 386,718 shares of the financial services provider’s stock worth $3,109,000 after purchasing an additional 247,140 shares during the period. M&T Bank Corp boosted its holdings in Global Net Lease by 185.8% in the first quarter. M&T Bank Corp now owns 34,749 shares of the financial services provider’s stock worth $279,000 after purchasing an additional 22,590 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Global Net Lease in the first quarter worth $355,000. Institutional investors own 61.19% of the company’s stock.

Global Net Lease Trading Up 0.1%

NYSE:GNL opened at $7.49 on Tuesday. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.13 and a quick ratio of 0.13. Global Net Lease, Inc. has a fifty-two week low of $6.51 and a fifty-two week high of $9.10. The stock’s 50-day moving average is $7.37 and its two-hundred day moving average is $7.53. The stock has a market cap of $1.66 billion, a PE ratio of -5.20 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 EPS for the quarter, beating the consensus estimate of $0.20 by $0.04. The business had revenue of $124.91 million during the quarter, compared to analysts’ expectations of $138.38 million. Global Net Lease had a negative return on equity of 9.71% and a negative net margin of 43.75%. As a group, equities research analysts forecast that Global Net Lease, Inc. will post 1.26 earnings per share for the current fiscal year.

Global Net Lease Dividend Announcement

The business also recently announced 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 of this dividend was Friday, July 11th. This represents a $0.76 dividend on an annualized basis and a yield of 10.1%. Global Net Lease’s dividend payout ratio is presently -52.78%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on GNL shares. B. Riley started coverage on shares of Global Net Lease in a report on Tuesday, April 22nd. They set a “neutral” rating and a $8.00 price target for the company. Colliers Securities raised shares of Global Net Lease from a “neutral” rating to a “buy” rating and set a $12.00 price target for the company in a report on Thursday, August 7th. Finally, JMP Securities reissued a “market outperform” rating and set a $9.00 price target on shares of Global Net Lease in a report on Thursday, June 12th. Two investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $9.25.

Insider Buying and Selling

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

Global Net Lease 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.