Northern Trust Corp Boosts Stock Holdings in Global Net Lease, Inc. (NYSE:GNL)

Northern Trust Corp boosted its position in Global Net Lease, Inc. (NYSE:GNL) by 26.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,612,357 shares of the financial services provider’s stock after acquiring an additional 544,719 shares during the quarter. Northern Trust Corp’s holdings in Global Net Lease were worth $19,070,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Helix Partners Management LP bought a new stake in shares of Global Net Lease in the fourth quarter worth $24,455,000. JPMorgan Chase & Co. raised its holdings in shares of Global Net Lease by 107.3% during the fourth quarter. JPMorgan Chase & Co. now owns 1,269,118 shares of the financial services provider’s stock worth $9,265,000 after purchasing an additional 656,890 shares during the period. Marshall Wace LLP bought a new position in shares of Global Net Lease in the 4th quarter worth about $4,021,000. Invesco Ltd. boosted its holdings in shares of Global Net Lease by 14.8% in the 4th quarter. Invesco Ltd. now owns 3,575,498 shares of the financial services provider’s stock valued at $26,101,000 after buying an additional 461,173 shares during the period. Finally, Barclays PLC grew its position in shares of Global Net Lease by 135.2% during the 4th quarter. Barclays PLC now owns 799,140 shares of the financial services provider’s stock valued at $5,834,000 after buying an additional 459,439 shares during the last quarter. 61.19% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Global Net Lease news, major shareholder Nicholas S. Schorsch sold 200,000 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now directly owns 1,629,073 shares in the company, valued at approximately $12,951,130.35. This trade represents a 10.93% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.37% of the stock is owned by company insiders.

Global Net Lease Stock Down 0.5%

NYSE:GNL opened at $7.95 on Wednesday. The firm has a market capitalization of $1.82 billion, a price-to-earnings ratio of -8.46 and a beta of 1.22. The business’s fifty day moving average price is $7.66 and its 200 day moving average price is $7.47. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 0.70. Global Net Lease, Inc. has a 1-year low of $6.51 and a 1-year high of $9.11.

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 for the quarter, beating the consensus estimate 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 company had revenue of $132.42 million for the quarter, compared to analyst estimates of $187.40 million. On average, sell-side analysts forecast that Global Net Lease, Inc. will post 1.26 earnings per share for the current fiscal year.

Global Net Lease Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 16th. Shareholders of record on Friday, April 11th were paid a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 9.56%. The ex-dividend date was Friday, April 11th. Global Net Lease’s payout ratio is presently -51.35%.

Analyst Upgrades and Downgrades

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

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.