Greenland Capital Management LP Decreases Position in Global Net Lease, Inc. (NYSE:GNL)

Greenland Capital Management LP cut its position in Global Net Lease, Inc. (NYSE:GNL - Free Report) by 70.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 128,485 shares of the financial services provider's stock after selling 306,515 shares during the quarter. Greenland Capital Management LP owned approximately 0.06% of Global Net Lease worth $938,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. US Bancorp DE boosted its holdings in shares of Global Net Lease by 363.2% in the fourth 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 during the period. Creative Financial Designs Inc. ADV boosted its stake in 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 period. McIlrath & Eck LLC purchased a new position in Global Net Lease during the 3rd quarter worth $67,000. Allworth Financial LP increased its stake in 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 period. Finally, HB Wealth Management LLC purchased a new stake in shares of Global Net Lease in the fourth quarter valued at about $81,000. Hedge funds and other institutional investors own 61.19% of the company's stock.

Insider Activity at Global Net Lease

In related news, major shareholder Nicholas S. Schorsch sold 200,000 shares of the firm's stock in a transaction dated Thursday, April 3rd. The shares were sold at an average price of $7.95, for a total value of $1,590,000.00. Following the completion of the sale, the insider now owns 1,629,073 shares in the company, valued at $12,951,130.35. This trade represents a 10.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.31% of the company's stock.

Remove Ads

Global Net Lease Stock Performance

NYSE:GNL traded up $0.06 during mid-day trading on Friday, reaching $6.99. The stock had a trading volume of 3,187,430 shares, compared to its average volume of 1,506,716. Global Net Lease, Inc. has a twelve month low of $6.51 and a twelve month high of $9.11. The business has a 50 day simple moving average of $7.59 and a 200 day simple moving average of $7.58. The firm has a market capitalization of $1.60 billion, a price-to-earnings ratio of -7.43 and a beta of 1.19. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.06 and a current ratio of 0.06.

Global Net Lease Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 16th. Stockholders 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 dividend yield of 10.88%. Global Net Lease's dividend payout ratio is currently -100.00%.

Analyst Ratings Changes

Several equities analysts recently issued reports on GNL shares. Citizens Jmp upgraded Global Net Lease from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, December 17th. JMP Securities raised Global Net Lease from a "market perform" rating to an "outperform" rating and set a $9.00 target price on the stock 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 given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $9.50.

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.