Sound Income Strategies LLC Sells 1,000,521 Shares of Global Net Lease, Inc. (NYSE:GNL)

Sound Income Strategies LLC trimmed its position in shares of Global Net Lease, Inc. (NYSE:GNL) by 97.8% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 22,005 shares of the financial services provider’s stock after selling 1,000,521 shares during the quarter. Sound Income Strategies LLC’s holdings in Global Net Lease were worth $162,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the company. CWM LLC grew its stake in shares of Global Net Lease by 23.6% in the second quarter. CWM LLC now owns 23,183 shares of the financial services provider’s stock worth $170,000 after acquiring an additional 4,423 shares during the period. Fiduciary Alliance LLC purchased a new stake in Global Net Lease during the second quarter valued at approximately $229,000. Thompson Investment Management Inc. grew its position in shares of Global Net Lease by 21.0% during the 2nd quarter. Thompson Investment Management Inc. now owns 86,314 shares of the financial services provider’s stock valued at $634,000 after acquiring an additional 15,000 shares during the period. Capital Market Strategies LLC increased its stake in shares of Global Net Lease by 14.6% in the 2nd quarter. Capital Market Strategies LLC now owns 15,694 shares of the financial services provider’s stock worth $115,000 after purchasing an additional 2,000 shares in the last quarter. Finally, Cetera Advisors LLC raised its holdings in Global Net Lease by 130.6% in the 1st quarter. Cetera Advisors LLC now owns 57,315 shares of the financial services provider’s stock worth $445,000 after purchasing an additional 32,457 shares during the period. 61.19% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, major shareholder Nicholas S. Schorsch sold 100,000 shares of the business’s stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $7.02, for a total transaction of $702,000.00. Following the completion of the transaction, the insider now owns 1,829,073 shares in the company, valued at approximately $12,840,092.46. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, major shareholder Nicholas S. Schorsch sold 159,720 shares of Global Net Lease stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $7.32, for a total transaction of $1,169,150.40. Following the completion of the sale, the insider now owns 3,546,752 shares of the company’s stock, valued at $25,962,224.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Nicholas S. Schorsch sold 100,000 shares of the stock in a transaction that occurred on Wednesday, June 26th. The stock was sold at an average price of $7.02, for a total value of $702,000.00. Following the completion of the transaction, the insider now directly owns 1,829,073 shares in the company, valued at approximately $12,840,092.46. The disclosure for this sale can be found here. Insiders sold a total of 1,043,070 shares of company stock valued at $7,497,437 over the last 90 days. Insiders own 0.31% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on GNL shares. JMP Securities reaffirmed a “market perform” rating on shares of Global Net Lease in a research report on Wednesday, June 12th. BMO Capital Markets restated an “outperform” rating and set a $11.00 target price on shares of Global Net Lease in a research note on Friday, June 28th. Finally, StockNews.com raised shares of Global Net Lease from a “sell” rating to a “hold” rating in a report on Thursday. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $11.00.

Global Net Lease Price Performance

GNL stock traded down $0.11 during trading on Friday, hitting $8.06. 3,512,187 shares of the company’s stock traded hands, compared to its average volume of 1,553,377. The business has a fifty day simple moving average of $7.82 and a 200 day simple moving average of $7.64. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.05 and a current ratio of 0.05. The stock has a market capitalization of $1.86 billion, a price-to-earnings ratio of -4.43, a P/E/G ratio of 1.11 and a beta of 1.37. Global Net Lease, Inc. has a 52 week low of $6.52 and a 52 week high of $11.58.

Global Net Lease (NYSE:GNL) last posted its quarterly earnings data on Tuesday, August 6th. The financial services provider reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.52). The company had revenue of $203.29 million during the quarter, compared to the consensus estimate of $204.80 million. Global Net Lease had a negative net margin of 37.46% and a negative return on equity of 10.08%. During the same period in the previous year, the business earned $0.40 earnings per share. As a group, research analysts expect that Global Net Lease, Inc. will post 1.29 EPS for the current fiscal year.

Global Net Lease Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 16th. Investors of record on Thursday, July 11th were given a $0.275 dividend. This is a positive change from Global Net Lease’s previous quarterly dividend of $0.06. This represents a $1.10 dividend on an annualized basis and a yield of 13.65%. The ex-dividend date was Thursday, July 11th. Global Net Lease’s dividend payout ratio is -60.44%.

About Global Net Lease

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.