IndexIQ Advisors LLC Trims Stock Position in Global Net Lease, Inc. (NYSE:GNL)

IndexIQ Advisors LLC lessened its position in shares of Global Net Lease, Inc. (NYSE:GNL – Get Rating) by 8.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 32,829 shares of the financial services provider’s stock after selling 3,043 shares during the quarter. IndexIQ Advisors LLC’s holdings in Global Net Lease were worth $502,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Sound Income Strategies LLC raised its stake in Global Net Lease by 29.0% during the fourth quarter. Sound Income Strategies LLC now owns 270,266 shares of the financial services provider’s stock worth $4,130,000 after purchasing an additional 60,820 shares during the period. Cetera Advisors LLC grew its holdings in Global Net Lease by 5.7% during the 3rd quarter. Cetera Advisors LLC now owns 15,919 shares of the financial services provider’s stock worth $255,000 after acquiring an additional 865 shares in the last quarter. Centaurus Financial Inc. acquired a new position in shares of Global Net Lease in the 4th quarter valued at $102,000. BOKF NA acquired a new position in shares of Global Net Lease in the 3rd quarter valued at $438,000. Finally, Voya Investment Management LLC boosted its holdings in shares of Global Net Lease by 2.7% in the 3rd quarter. Voya Investment Management LLC now owns 56,298 shares of the financial services provider’s stock valued at $902,000 after buying an additional 1,471 shares in the last quarter. Institutional investors own 69.31% of the company’s stock.

Shares of Global Net Lease stock opened at $15.11 on Tuesday. The company has a market cap of $1.57 billion, a P/E ratio of -71.95, a PEG ratio of 1.41 and a beta of 1.12. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.05 and a current ratio of 0.05. Global Net Lease, Inc. has a one year low of $13.52 and a one year high of $20.11. The firm has a fifty day moving average of $14.89 and a two-hundred day moving average of $15.13.

Global Net Lease (NYSE:GNL – Get Rating) last announced its quarterly earnings results on Thursday, February 24th. The financial services provider reported ($0.08) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.41 by ($0.49). Global Net Lease had a net margin of 2.91% and a return on equity of 0.69%. During the same quarter in the previous year, the company posted $0.45 earnings per share. As a group, equities analysts predict that Global Net Lease, Inc. will post 1.79 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Monday, April 18th. Stockholders of record on Monday, April 11th were issued a $0.40 dividend. The ex-dividend date of this dividend was Friday, April 8th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 10.59%. Global Net Lease’s dividend payout ratio is presently -761.87%.

GNL has been the subject of several research analyst reports. Zacks Investment Research cut shares of Global Net Lease from a “buy” rating to a “hold” rating in a report on Monday, March 14th. StockNews.com initiated coverage on shares of Global Net Lease in a report on Thursday, March 31st. They issued a “hold” rating for the company. Finally, BTIG Research lowered their target price on shares of Global Net Lease from $23.00 to $19.00 and set a “buy” rating for the company in a report on Monday, March 14th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Global Net Lease currently has an average rating of “Hold” and a consensus price target of $19.76.

About Global Net Lease (Get Rating)

Global Net Lease, Inc (NYSE: GNL) is a publicly traded real estate investment trust listed on the NYSE 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.

Recommended Stories