Price T Rowe Associates Inc. MD Boosts Position in Global Net Lease, Inc. (NYSE:GNL)

Price T Rowe Associates Inc. MD grew its holdings in Global Net Lease, Inc. (NYSE:GNL) by 16.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 147,400 shares of the financial services provider’s stock after purchasing an additional 21,052 shares during the quarter. Price T Rowe Associates Inc. MD owned approximately 0.06% of Global Net Lease worth $1,077,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the stock. Barclays PLC lifted its stake in shares of Global Net Lease by 312.3% during the 3rd quarter. Barclays PLC now owns 339,701 shares of the financial services provider’s stock worth $2,859,000 after purchasing an additional 257,310 shares during the period. JPMorgan Chase & Co. grew its stake 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 buying an additional 147,803 shares during the period. Arkadios Wealth Advisors boosted its position in Global Net Lease by 8.6% during the 4th quarter. Arkadios Wealth Advisors now owns 59,945 shares of the financial services provider’s stock worth $438,000 after purchasing an additional 4,724 shares during the period. HB Wealth Management LLC purchased a new stake in shares of Global Net Lease in the fourth quarter worth about $81,000. Finally, SG Americas Securities LLC grew its position in Global Net Lease by 20.6% in the fourth quarter. SG Americas Securities LLC now owns 67,330 shares of the financial services provider’s stock valued at $492,000 after acquiring an additional 11,482 shares in the last quarter. Hedge funds and other institutional investors own 61.19% of the company’s stock.

Global Net Lease Stock Performance

Shares of GNL opened at $8.05 on Friday. Global Net Lease, Inc. has a 12-month low of $6.51 and a 12-month high of $9.11. The business’s fifty day moving average price is $7.67 and its 200 day moving average price is $7.47. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.06 and a quick ratio of 0.06. The stock has a market capitalization of $1.84 billion, a PE ratio of -8.56 and a beta of 1.22.

Global Net Lease (NYSE:GNL) last released its quarterly earnings data on Wednesday, May 7th. The financial services provider reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.06. Global Net Lease had a negative return on equity of 7.04% and a negative net margin of 21.37%. The business had revenue of $132.42 million during the quarter, compared to analyst estimates of $187.40 million. Equities research analysts forecast that Global Net Lease, Inc. will post 1.26 EPS for the current year.

Global Net Lease Cuts Dividend

The firm also recently declared 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 dividend on an annualized basis and a dividend yield of 9.44%. The ex-dividend date was Friday, April 11th. Global Net Lease’s dividend payout ratio (DPR) is -100.00%.

Insiders Place Their Bets

In other news, major shareholder Nicholas S. Schorsch sold 200,000 shares of the company’s stock in a transaction on Thursday, April 3rd. The stock was sold at an average price of $7.95, for a total value of $1,590,000.00. Following the completion of the sale, the insider now owns 1,629,073 shares in the company, valued at $12,951,130.35. This represents a 10.93 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.37% of the stock is owned by insiders.

Wall Street Analyst Weigh In

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

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.