Norges Bank Acquires New Position in Global Net Lease, Inc. (NYSE:GNL)

Norges Bank bought a new position in shares of Global Net Lease, Inc. (NYSE:GNL - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 440,956 shares of the financial services provider's stock, valued at approximately $3,219,000. Norges Bank owned about 0.19% of Global Net Lease at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. US Bancorp DE lifted its stake 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 worth $44,000 after buying an additional 4,761 shares during the last quarter. Creative Financial Designs Inc. ADV increased its stake 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 purchasing an additional 3,624 shares during the period. McIlrath & Eck LLC bought a new stake in Global Net Lease during the 3rd quarter valued at approximately $67,000. Allworth Financial LP increased its position in Global Net Lease by 157.6% in the 4th quarter. Allworth Financial LP now owns 10,314 shares of the financial services provider's stock worth $74,000 after buying an additional 6,310 shares during the period. Finally, HB Wealth Management LLC acquired a new position in shares of Global Net Lease during the fourth quarter worth approximately $81,000. 61.19% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling 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 on 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 owns 1,629,073 shares in the company, 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 can be accessed through this hyperlink. Company insiders own 0.31% of the company's stock.

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Analyst Upgrades and Downgrades

GNL has been the subject of a number of research reports. Citizens Jmp raised shares of Global Net Lease from a "hold" rating to a "strong-buy" rating in a 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 price objective on the stock in a report on Tuesday, December 17th. Two investment 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 stock. According to MarketBeat.com, Global Net Lease presently has an average rating of "Moderate Buy" and a consensus target price of $9.50.

Global Net Lease Price Performance

Shares of NYSE GNL traded up $0.09 during midday trading on Wednesday, reaching $7.57. 253,759 shares of the company traded hands, compared to its average volume of 1,507,956. The stock's 50-day simple moving average is $7.60 and its 200-day simple moving average is $7.57. 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, Inc. has a 12 month low of $6.51 and a 12 month high of $9.11. The firm has a market cap of $1.73 billion, a PE ratio of -8.05 and a beta of 1.19.

Global Net Lease Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 16th. Investors of record on Friday, April 11th will be issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 10.05%. The ex-dividend date is Friday, April 11th. Global Net Lease's dividend payout ratio is currently -100.00%.

Global Net Lease Company 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.