Rhumbline Advisers Decreases Stock Holdings in Global Net Lease, Inc. (NYSE:GNL)

Rhumbline Advisers lowered its stake in shares of Global Net Lease, Inc. (NYSE:GNL) by 4.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 665,093 shares of the financial services provider’s stock after selling 30,211 shares during the period. Rhumbline Advisers’ holdings in Global Net Lease were worth $5,347,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently modified their holdings of GNL. Helix Partners Management LP purchased a new stake in shares of Global Net Lease in the fourth quarter valued at about $24,455,000. Taconic Capital Advisors LP purchased a new stake in shares of Global Net Lease in the fourth quarter valued at about $7,300,000. JPMorgan Chase & Co. lifted its holdings in shares of Global Net Lease by 107.3% in the fourth quarter. JPMorgan Chase & Co. now owns 1,269,118 shares of the financial services provider’s stock valued at $9,265,000 after purchasing an additional 656,890 shares in the last quarter. Marshall Wace LLP purchased a new stake in shares of Global Net Lease in the fourth quarter valued at about $4,021,000. Finally, Northern Trust Corp lifted its holdings in shares of 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 valued at $19,070,000 after purchasing an additional 544,719 shares in the last quarter. Hedge funds and other institutional investors own 61.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on GNL. JMP Securities reaffirmed a “market outperform” rating and issued a $9.00 price target on shares of Global Net Lease in a report on Thursday. B. Riley initiated coverage on shares of Global Net Lease in a report on Tuesday, April 22nd. They issued a “neutral” rating and a $8.00 price target on the stock. Three research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $9.00.

Global Net Lease Stock Performance

NYSE:GNL opened at $7.49 on Friday. The firm’s 50 day moving average is $7.59 and its two-hundred day moving average is $7.49. Global Net Lease, Inc. has a fifty-two week low of $6.51 and a fifty-two week high of $9.11. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 0.70. The company has a market cap of $1.71 billion, a P/E ratio of -7.97 and a beta of 1.22.

Global Net Lease (NYSE:GNL) last issued its earnings results on Wednesday, May 7th. The financial services provider reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.06. The business had revenue of $132.42 million for the quarter, compared to the consensus estimate of $187.40 million. Global Net Lease had a negative net margin of 21.37% and a negative return on equity of 7.04%. Analysts expect that Global Net Lease, Inc. will post 1.26 EPS for the current year.

Global Net Lease Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 16th. Shareholders of record on Friday, April 11th were issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 10.15%. The ex-dividend date was Friday, April 11th. Global Net Lease’s dividend payout ratio is currently -51.35%.

Insiders Place Their Bets

In other news, major shareholder Nicholas S. Schorsch sold 100,000 shares of the company’s stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $7.99, for a total value of $799,000.00. Following the completion of the sale, the insider now directly owns 1,529,073 shares of the company’s stock, valued at approximately $12,217,293.27. This represents a 6.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.37% of the stock is owned by company insiders.

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.