Global Net Lease, Inc. (NYSE:GNL) Shares Sold by Prudential Financial Inc.

Prudential Financial Inc. lowered its holdings in Global Net Lease, Inc. (NYSE:GNL - Free Report) by 48.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 203,541 shares of the financial services provider's stock after selling 188,868 shares during the quarter. Prudential Financial Inc. owned 0.09% of Global Net Lease worth $1,482,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Global Net Lease by 392.8% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,048,596 shares of the financial services provider's stock valued at $8,829,000 after purchasing an additional 835,830 shares in the last quarter. Geode Capital Management LLC increased its position in 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 last quarter. JPMorgan Chase & Co. increased its position in Global Net Lease by 31.8% during the third quarter. JPMorgan Chase & Co. now owns 612,228 shares of the financial services provider's stock worth $5,155,000 after purchasing an additional 147,803 shares during the last quarter. HB Wealth Management LLC acquired a new stake in shares of Global Net Lease during the fourth quarter valued at about $81,000. Finally, PFG Investments LLC increased its position in shares of Global Net Lease by 177.2% during the fourth quarter. PFG Investments LLC now owns 86,497 shares of the financial services provider's stock valued at $631,000 after acquiring an additional 55,293 shares during the last quarter. Institutional investors and hedge funds own 61.19% of the company's stock.

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Wall Street Analysts Forecast Growth

Several research firms have recently commented on GNL. Citizens Jmp raised shares of Global Net Lease from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, December 17th. JMP Securities upgraded shares of Global Net Lease from a "market perform" rating to an "outperform" rating and set a $9.00 price target for the company in a research note on Tuesday, December 17th. Two analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $9.50.

Insider Buying and Selling

In other Global Net Lease news, major shareholder Nicholas S. Schorsch sold 200,000 shares of the company'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 transaction, the insider now directly owns 1,629,073 shares in the company, valued at approximately $12,951,130.35. This represents a 10.93 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.31% of the company's stock.

Global Net Lease Stock Performance

GNL traded down $0.22 during trading on Thursday, hitting $6.99. The stock had a trading volume of 579,137 shares, compared to its average volume of 1,494,294. The firm has a market capitalization of $1.61 billion, a P/E ratio of -7.44 and a beta of 1.19. Global Net Lease, Inc. has a twelve month low of $6.51 and a twelve month high of $9.11. The company's 50-day moving average price is $7.60 and its 200 day moving average price is $7.61. 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 disclosed a quarterly dividend, which will be paid on Wednesday, April 16th. Investors of record on Friday, April 11th will be given a $0.19 dividend. The ex-dividend date is Friday, April 11th. This represents a $0.76 annualized dividend and a dividend yield of 10.87%. Global Net Lease's dividend payout ratio is presently -100.00%.

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.