LPL Financial LLC Reduces Position in Global Net Lease, Inc. $GNL

LPL Financial LLC cut its holdings in shares of Global Net Lease, Inc. (NYSE:GNL) by 2.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 273,396 shares of the financial services provider’s stock after selling 6,875 shares during the quarter. LPL Financial LLC owned approximately 0.12% of Global Net Lease worth $2,198,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Northern Trust Corp increased its position in shares of Global Net Lease by 26.3% during 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 buying an additional 544,719 shares during the period. Brown Advisory Inc. increased its position 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 valued at $18,532,000 after buying an additional 20,450 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of 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 valued at $15,569,000 after buying an additional 141,845 shares during the period. Taconic Capital Advisors LP bought a new stake in shares of Global Net Lease during the fourth quarter valued at about $7,300,000. Finally, Principal Financial Group Inc. increased its position in shares of Global Net Lease by 2.7% during the first quarter. Principal Financial Group Inc. now owns 986,423 shares of the financial services provider’s stock valued at $7,931,000 after buying an additional 25,741 shares during the period. 61.19% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Nicholas S. Schorsch sold 300,000 shares of the company’s stock in a transaction on Friday, June 13th. The shares were sold at an average price of $7.33, for a total value of $2,199,000.00. Following the completion of the sale, the insider owned 19,607,384 shares of the company’s stock, valued at approximately $143,722,124.72. This represents a 1.51% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Edward M. Jr. Weil sold 150,000 shares of the company’s stock in a transaction on 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 completion of the sale, the chief executive officer directly owned 584,053 shares of the company’s stock, valued at $4,444,643.33. This trade represents a 20.43% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 7,553,000 shares of company stock valued at $56,115,790 in the last ninety days. 0.37% of the stock is owned by corporate insiders.

Analyst Ratings Changes

GNL has been the topic of several analyst reports. KeyCorp upgraded Global Net Lease from a “sector weight” rating to an “overweight” rating and set a $9.00 price target on the stock in a research report on Tuesday. Colliers Securities upgraded Global Net Lease from a “neutral” rating to a “buy” rating and set a $12.00 price target on the stock in a research report on Thursday, August 7th. JMP Securities reiterated a “market outperform” rating and set a $9.00 price target on shares of Global Net Lease in a research report on Thursday, June 12th. Finally, B. Riley initiated coverage on Global Net Lease in a research report on Tuesday, April 22nd. They set a “neutral” rating and a $8.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $9.20.

Global Net Lease Stock Up 3.8%

GNL stock opened at $7.7650 on Wednesday. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.90. The company’s 50 day moving average is $7.37 and its 200 day moving average is $7.53. The stock has a market cap of $1.72 billion, a price-to-earnings ratio of -5.39 and a beta of 1.20. Global Net Lease, Inc. has a 1-year low of $6.51 and a 1-year high of $9.10.

Global Net Lease (NYSE:GNL) last posted its quarterly earnings data on Wednesday, August 6th. The financial services provider reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.04. The company had revenue of $124.91 million for the quarter, compared to analysts’ expectations of $138.38 million. Global Net Lease had a negative net margin of 43.75% and a negative return on equity of 9.71%. Sell-side analysts predict that Global Net Lease, Inc. will post 1.26 EPS for the current fiscal year.

Global Net Lease Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 16th. Stockholders of record on Friday, July 11th were issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 9.8%. The ex-dividend date was Friday, July 11th. Global Net Lease’s payout ratio is presently -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.