Tower Research Capital LLC TRC Lowers Position in Global Net Lease, Inc. (NYSE:GNL)

Tower Research Capital LLC TRC trimmed its holdings in shares of Global Net Lease, Inc. (NYSE:GNL) by 73.6% in the fourth quarter, Holdings Channel reports. The firm owned 13,596 shares of the financial services provider’s stock after selling 37,992 shares during the period. Tower Research Capital LLC TRC’s holdings in Global Net Lease were worth $99,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. US Bancorp DE increased its position in shares of Global Net Lease by 363.2% during the fourth quarter. US Bancorp DE now owns 6,072 shares of the financial services provider’s stock valued at $44,000 after acquiring an additional 4,761 shares during the last quarter. Creative Financial Designs Inc. ADV increased its holdings in Global Net Lease by 119.4% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 6,659 shares of the financial services provider’s stock valued at $49,000 after purchasing an additional 3,624 shares during the last quarter. Allworth Financial LP raised its position in Global Net Lease by 157.6% in the fourth quarter. Allworth Financial LP now owns 10,314 shares of the financial services provider’s stock valued at $74,000 after purchasing an additional 6,310 shares during the period. HB Wealth Management LLC acquired a new position in Global Net Lease during the fourth quarter worth $81,000. Finally, Inceptionr LLC purchased a new position in shares of Global Net Lease during the fourth quarter worth $84,000. 61.19% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, B. Riley began coverage on Global Net Lease in a report on Tuesday, April 22nd. They issued a “neutral” rating and a $8.00 price objective on the stock. Three analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $9.00.

Insider Activity at Global Net Lease

In other news, major shareholder Nicholas S. Schorsch sold 200,000 shares of the business’s stock in a transaction dated Thursday, April 3rd. The stock was sold at an average price of $7.95, for a total transaction of $1,590,000.00. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.37% of the stock is currently owned by company insiders.

Global Net Lease Price Performance

Global Net Lease stock opened at $7.86 on Friday. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 0.70. Global Net Lease, Inc. has a 52-week low of $6.51 and a 52-week high of $9.11. The firm has a market cap of $1.80 billion, a PE ratio of -8.36 and a beta of 1.22. The company’s 50 day moving average is $7.67 and its two-hundred day moving average is $7.48.

Global Net Lease Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 16th. Stockholders of record on Friday, April 11th were paid a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 9.68%. The ex-dividend date was Friday, April 11th. Global Net Lease’s payout ratio is currently -100.00%.

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.