Legal & General Group Plc trimmed its position in Global Net Lease, Inc. (NYSE:GNL - Free Report) by 8.5% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,311,208 shares of the financial services provider's stock after selling 121,823 shares during the period. Legal & General Group Plc owned 0.57% of Global Net Lease worth $9,572,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. JPMorgan Chase & Co. raised its position in shares of Global Net Lease by 31.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 612,228 shares of the financial services provider's stock valued at $5,155,000 after acquiring an additional 147,803 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Global Net Lease by 1.9% during the third quarter. Geode Capital Management LLC now owns 5,093,659 shares of the financial services provider's stock worth $42,897,000 after purchasing an additional 95,769 shares during the period. HB Wealth Management LLC bought a new position in shares of Global Net Lease in the 4th quarter worth about $81,000. PFG Investments LLC lifted its position in shares of Global Net Lease by 177.2% in the 4th quarter. PFG Investments LLC now owns 86,497 shares of the financial services provider's stock worth $631,000 after buying an additional 55,293 shares during the last quarter. Finally, Barclays PLC boosted its holdings in shares of Global Net Lease by 312.3% in the 3rd quarter. Barclays PLC now owns 339,701 shares of the financial services provider's stock valued at $2,859,000 after buying an additional 257,310 shares during the period. Institutional investors and hedge funds own 61.19% of the company's stock.
Global Net Lease Stock Up 0.3 %
NYSE:GNL traded up $0.02 during trading hours on Wednesday, hitting $7.60. 330,733 shares of the stock traded hands, compared to its average volume of 1,767,778. The firm has a market cap of $1.74 billion, a price-to-earnings ratio of -8.09 and a beta of 1.19. The firm has a 50 day moving average price of $7.64 and a 200 day moving average price of $7.54. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 0.70. Global Net Lease, Inc. has a fifty-two week low of $6.51 and a fifty-two week high of $9.10.
Global Net Lease Cuts Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, April 16th. Stockholders of record on Friday, April 11th were paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 10.00%. The ex-dividend date was Friday, April 11th. Global Net Lease's dividend payout ratio (DPR) is presently -100.00%.
Wall Street Analysts Forecast Growth
Separately, B. Riley began coverage on Global Net Lease in a research report on Tuesday. They set 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 given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $9.00.
Read Our Latest Analysis on Global Net Lease
Insider Buying and Selling
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 stock was sold at an average price of $7.95, for a total transaction of $1,590,000.00. Following the completion of the sale, the insider now directly owns 1,629,073 shares in the company, valued at $12,951,130.35. The trade was a 10.93 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.37% of the stock is owned by corporate insiders.
Global Net Lease Profile
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Free Report)
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.
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