Global Net Lease, Inc. $GNL Shares Sold by Allianz Asset Management GmbH

Allianz Asset Management GmbH cut its stake in Global Net Lease, Inc. (NYSE:GNL) by 31.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 263,565 shares of the financial services provider’s stock after selling 123,153 shares during the quarter. Allianz Asset Management GmbH owned approximately 0.12% of Global Net Lease worth $1,990,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of GNL. Money Concepts Capital Corp lifted its holdings in Global Net Lease by 5.4% in the first quarter. Money Concepts Capital Corp now owns 58,517 shares of the financial services provider’s stock valued at $470,000 after acquiring an additional 3,011 shares during the period. Sunbelt Securities Inc. lifted its holdings in Global Net Lease by 30.3% in the first quarter. Sunbelt Securities Inc. now owns 21,143 shares of the financial services provider’s stock valued at $170,000 after acquiring an additional 4,917 shares during the period. Essex Financial Services Inc. increased its position in shares of Global Net Lease by 25.6% in the first quarter. Essex Financial Services Inc. now owns 15,361 shares of the financial services provider’s stock valued at $124,000 after buying an additional 3,127 shares in the last quarter. Teacher Retirement System of Texas purchased a new stake in shares of Global Net Lease in the first quarter valued at approximately $573,000. Finally, Principal Financial Group Inc. increased its position in shares of 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 valued at $7,931,000 after buying an additional 25,741 shares in the last quarter. 61.19% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

GNL has been the subject of a number of recent analyst reports. Colliers Securities upgraded Global Net Lease from a “neutral” rating to a “buy” rating and set a $12.00 price objective for the company in a research report on Thursday, August 7th. KeyCorp upgraded Global Net Lease from a “sector weight” rating to an “overweight” rating and set a $9.00 price objective for the company in a research report on Tuesday, August 19th. Finally, Wall Street Zen upgraded Global Net Lease from a “sell” rating to a “hold” rating in a research report on Friday, August 22nd. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $9.20.

Global Net Lease Stock Up 0.9%

Shares of GNL opened at $7.70 on Friday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.13 and a current ratio of 0.13. Global Net Lease, Inc. has a one year low of $6.51 and a one year high of $8.35. The stock has a market capitalization of $1.70 billion, a price-to-earnings ratio of -5.34 and a beta of 1.20. The stock has a 50 day moving average price of $7.93 and a 200 day moving average price of $7.64.

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

Global Net Lease Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 16th. Shareholders of record on Monday, October 13th were paid a dividend of $0.19 per share. The ex-dividend date of this dividend was Friday, October 10th. This represents a $0.76 dividend on an annualized basis and a yield of 9.9%. Global Net Lease’s payout ratio is -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.