Sterling Capital Management LLC Cuts Stake in Global Net Lease, Inc. (NYSE:GNL)

Sterling Capital Management LLC reduced its holdings in shares of Global Net Lease, Inc. (NYSE:GNL) by 28.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,430 shares of the financial services provider’s stock after selling 2,609 shares during the period. Sterling Capital Management LLC’s holdings in Global Net Lease were worth $47,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. US Bancorp DE raised its position in Global Net Lease by 363.2% in the 4th quarter. US Bancorp DE now owns 6,072 shares of the financial services provider’s stock worth $44,000 after purchasing an additional 4,761 shares during the period. Creative Financial Designs Inc. ADV increased its holdings in shares of Global Net Lease by 119.4% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 6,659 shares of the financial services provider’s stock worth $49,000 after buying an additional 3,624 shares during the period. McIlrath & Eck LLC bought a new stake in shares of Global Net Lease in the 3rd quarter valued at about $67,000. Allworth Financial LP boosted its holdings in Global Net Lease by 157.6% during the 4th quarter. Allworth Financial LP now owns 10,314 shares of the financial services provider’s stock valued at $74,000 after acquiring an additional 6,310 shares during the period. Finally, HB Wealth Management LLC bought a new position in Global Net Lease during the 4th quarter worth approximately $81,000. 61.19% of the stock is owned by hedge funds and other institutional investors.

Global Net Lease Stock Performance

Global Net Lease stock opened at $7.50 on Friday. Global Net Lease, Inc. has a 1-year low of $6.51 and a 1-year high of $9.11. The firm has a market cap of $1.72 billion, a P/E ratio of -7.98 and a beta of 1.19. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 0.70. The firm has a 50-day moving average of $7.65 and a 200-day moving average of $7.53.

Global Net Lease Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 16th. Stockholders of record on Friday, April 11th were given a $0.19 dividend. The ex-dividend date of this dividend was Friday, April 11th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 10.13%. Global Net Lease’s dividend payout ratio is currently -100.00%.

Insider Activity

In other news, major shareholder Nicholas S. Schorsch sold 200,000 shares of Global Net Lease stock in a transaction dated Thursday, April 3rd. The shares were sold at an average price of $7.95, for a total transaction of $1,590,000.00. Following the sale, the insider now owns 1,629,073 shares of the company’s stock, valued at approximately $12,951,130.35. The trade was a 10.93 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.37% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, B. Riley assumed coverage on Global Net Lease in a research report on Tuesday. They issued a “neutral” rating and a $8.00 price objective for the company. Three investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Global Net Lease presently has an average rating of “Moderate Buy” and a consensus target price of $9.00.

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.