Global Net Lease, Inc. (NYSE:GNL) Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. cut its stake in Global Net Lease, Inc. (NYSE:GNL) by 6.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,646,246 shares of the financial services provider’s stock after selling 2,087,532 shares during the quarter. Vanguard Group Inc. owned approximately 0.13% of Global Net Lease worth $223,718,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. US Bancorp DE grew its stake in Global Net Lease by 363.2% during the 4th quarter. US Bancorp DE now owns 6,072 shares of the financial services provider’s stock valued at $44,000 after acquiring an additional 4,761 shares in the last quarter. Creative Financial Designs Inc. ADV boosted its holdings in shares of Global Net Lease by 119.4% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 6,659 shares of the financial services provider’s stock worth $49,000 after purchasing an additional 3,624 shares during the last quarter. McIlrath & Eck LLC purchased a new stake in shares of Global Net Lease in the third quarter valued at approximately $67,000. Allworth Financial LP increased its holdings in shares of Global Net Lease by 157.6% in the fourth quarter. Allworth Financial LP now owns 10,314 shares of the financial services provider’s stock valued at $74,000 after purchasing an additional 6,310 shares during the last quarter. Finally, Abel Hall LLC purchased a new position in Global Net Lease during the third quarter worth approximately $93,000. 61.19% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

GNL has been the subject of several analyst reports. JMP Securities upgraded Global Net Lease from a “market perform” rating to an “outperform” rating and set a $9.00 target price for the company in a report on Tuesday, December 17th. Citizens Jmp upgraded shares of Global Net Lease from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 17th. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $9.50.

Global Net Lease Price Performance

Shares of GNL opened at $7.53 on Friday. Global Net Lease, Inc. has a 1-year low of $6.52 and a 1-year high of $9.11. The stock has a market cap of $1.74 billion, a PE ratio of -8.01 and a beta of 1.18. The firm has a 50-day simple moving average of $7.61 and a two-hundred day simple moving average of $7.66. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.06 and a quick ratio of 0.06.

Global Net Lease Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 16th. Investors of record on Friday, April 11th will be issued a $0.19 dividend. The ex-dividend date is Friday, April 11th. This represents a $0.76 annualized dividend and a yield of 10.10%. Global Net Lease’s dividend payout ratio (DPR) is presently -144.74%.

Insider Activity at Global Net Lease

In other Global Net Lease news, major shareholder Nicholas S. Schorsch sold 200,000 shares of Global Net Lease stock in a transaction dated Thursday, April 3rd. The stock was sold at an average price of $7.95, for a total value of $1,590,000.00. Following the completion of the transaction, the insider now directly owns 1,629,073 shares of the company’s stock, valued at $12,951,130.35. The trade was a 10.93 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.31% of the stock is owned by insiders.

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.