Sterling Capital Management LLC Reduces Position in Global Net Lease, Inc. (NYSE:GNL)

Sterling Capital Management LLC lessened its holdings in shares of Global Net Lease, Inc. (NYSE:GNL) by 28.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,430 shares of the financial services provider’s stock after selling 2,609 shares during the quarter. Sterling Capital Management LLC’s holdings in Global Net Lease were worth $47,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Concorde Asset Management LLC grew its stake in Global Net Lease by 6.4% in the 4th quarter. Concorde Asset Management LLC now owns 71,755 shares of the financial services provider’s stock valued at $524,000 after buying an additional 4,300 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Global Net Lease in the fourth quarter valued at $227,000. Renaissance Technologies LLC purchased a new position in shares of Global Net Lease in the fourth quarter valued at $593,000. FIL Ltd raised its stake in shares of Global Net Lease by 96.3% during the 4th quarter. FIL Ltd now owns 26,117 shares of the financial services provider’s stock valued at $191,000 after purchasing an additional 12,812 shares during the period. Finally, Invesco Ltd. lifted its holdings in Global Net Lease by 14.8% during the 4th quarter. Invesco Ltd. now owns 3,575,498 shares of the financial services provider’s stock worth $26,101,000 after purchasing an additional 461,173 shares in the last quarter. Hedge funds and other institutional investors own 61.19% of the company’s stock.

Insider Buying and Selling

In other news, major shareholder Nicholas S. Schorsch sold 200,000 shares of Global Net Lease stock in a transaction on Thursday, April 3rd. The shares were 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 of the company’s stock, valued at approximately $12,951,130.35. The trade was a 10.93 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.37% of the stock is owned by company insiders.

Global Net Lease Price Performance

NYSE:GNL opened at $7.50 on Friday. Global Net Lease, Inc. has a 52-week low of $6.51 and a 52-week high of $9.11. The stock has a fifty day moving average of $7.65 and a 200 day moving average of $7.53. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.06 and a current ratio of 0.06. The firm has a market capitalization of $1.72 billion, a price-to-earnings ratio of -7.98 and a beta of 1.19.

Global Net Lease Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 16th. Stockholders of record on Friday, April 11th were issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 10.13%. The ex-dividend date was Friday, April 11th. Global Net Lease’s payout ratio is -100.00%.

Analysts Set New Price Targets

Separately, B. Riley started 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 equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $9.00.

About Global Net Lease

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.