Global Net Lease, Inc. $GNL Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. cut its holdings in shares of Global Net Lease, Inc. (NYSE:GNL) by 1.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 104,765 shares of the financial services provider’s stock after selling 2,048 shares during the quarter. Corebridge Financial Inc.’s holdings in Global Net Lease were worth $842,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. Northern Trust Corp raised its position in Global Net Lease by 26.3% during the 4th quarter. Northern Trust Corp now owns 2,612,357 shares of the financial services provider’s stock worth $19,070,000 after buying an additional 544,719 shares during the last quarter. Brown Advisory Inc. boosted its stake in Global Net Lease by 0.9% during the 1st quarter. Brown Advisory Inc. now owns 2,305,031 shares of the financial services provider’s stock worth $18,532,000 after purchasing an additional 20,450 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Global Net Lease by 7.1% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,132,709 shares of the financial services provider’s stock worth $15,569,000 after purchasing an additional 141,845 shares during the last quarter. Taconic Capital Advisors LP acquired a new stake in Global Net Lease during the 4th quarter worth $7,300,000. Finally, Citigroup Inc. boosted its stake in Global Net Lease by 8.6% during the 1st quarter. Citigroup Inc. now owns 994,502 shares of the financial services provider’s stock worth $7,996,000 after purchasing an additional 78,778 shares during the last quarter. 61.19% of the stock is owned by hedge funds and other institutional investors.

Global Net Lease Stock Performance

Shares of Global Net Lease stock opened at $8.04 on Friday. The firm has a market capitalization of $1.78 billion, a P/E ratio of -5.58 and a beta of 1.22. Global Net Lease, Inc. has a 52 week low of $6.51 and a 52 week high of $9.10. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.90. The firm’s 50 day moving average is $7.47 and its two-hundred day moving average is $7.59.

Global Net Lease (NYSE:GNL) last announced its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $0.24 EPS for the quarter, beating the consensus estimate of $0.20 by $0.04. The company had revenue of $124.91 million for the quarter, compared to analyst estimates of $138.38 million. Global Net Lease had a negative net margin of 43.75% and a negative return on equity of 9.71%. Research analysts forecast that Global Net Lease, Inc. will post 1.26 EPS for the current fiscal year.

Global Net Lease Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 16th. Stockholders of record on Friday, July 11th were given a dividend of $0.19 per share. The ex-dividend date was Friday, July 11th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 9.5%. Global Net Lease’s dividend payout ratio (DPR) is -52.78%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Wall Street Zen raised shares of Global Net Lease from a “sell” rating to a “hold” rating in a research report on Friday, August 22nd. KeyCorp raised shares of Global Net Lease from a “sector weight” rating to an “overweight” rating and set a $9.00 target price on the stock in a research report on Tuesday, August 19th. Colliers Securities raised shares of Global Net Lease from a “neutral” rating to a “buy” rating and set a $12.00 price target on the stock in a research report on Thursday, August 7th. Finally, JMP Securities reissued a “market outperform” rating and set a $9.00 price target on shares of Global Net Lease in a research report on Thursday, June 12th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $9.20.

Insider Buying and Selling

In other news, CEO Edward M. Jr. Weil sold 150,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 10th. The shares were sold at an average price of $7.61, for a total transaction of $1,141,500.00. Following the transaction, the chief executive officer directly owned 584,053 shares in the company, valued at approximately $4,444,643.33. This trade represents a 20.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Nicholas S. Schorsch sold 7,103,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $7.43, for a total transaction of $52,775,290.00. Following the transaction, the insider owned 19,907,384 shares in the company, valued at approximately $147,911,863.12. This trade represents a 26.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,553,000 shares of company stock worth $56,115,790. Insiders own 0.37% of the company’s stock.

Global Net Lease Company 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.