B. Riley Initiates Coverage on Global Net Lease (NYSE:GNL)

B. Riley initiated coverage on shares of Global Net Lease (NYSE:GNL) in a research report released on Tuesday. The brokerage issued a neutral rating and a $8.00 price objective on the financial services provider’s stock.

Global Net Lease Stock Up 0.3 %

Shares of NYSE:GNL opened at $7.57 on Tuesday. Global Net Lease has a 52-week low of $6.51 and a 52-week high of $9.11. The company has a market capitalization of $1.73 billion, a PE ratio of -8.05 and a beta of 1.19. 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 company has a fifty day moving average of $7.64 and a 200-day moving average of $7.54.

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 given a $0.19 dividend. The ex-dividend date of this dividend was Friday, April 11th. This represents a $0.76 annualized dividend and a yield of 10.05%. Global Net Lease’s dividend payout ratio is presently -100.00%.

Insider Activity

In other news, major shareholder Nicholas S. Schorsch sold 200,000 shares of the firm’s 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 transaction, the insider now owns 1,629,073 shares of the company’s stock, valued at approximately $12,951,130.35. This trade represents a 10.93 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.37% of the company’s stock.

Institutional Trading of Global Net Lease

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. JPMorgan Chase & Co. grew its position in shares of Global Net Lease by 31.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 612,228 shares of the financial services provider’s stock valued at $5,155,000 after buying an additional 147,803 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Global Net Lease by 1.9% in the third quarter. Geode Capital Management LLC now owns 5,093,659 shares of the financial services provider’s stock worth $42,897,000 after acquiring an additional 95,769 shares during the period. HB Wealth Management LLC acquired a new position in shares of Global Net Lease in the fourth quarter worth approximately $81,000. PFG Investments LLC boosted its holdings in Global Net Lease by 177.2% in the fourth quarter. PFG Investments LLC now owns 86,497 shares of the financial services provider’s stock valued at $631,000 after acquiring an additional 55,293 shares during the last quarter. Finally, Barclays PLC increased its position in Global Net Lease by 312.3% during the 3rd quarter. Barclays PLC now owns 339,701 shares of the financial services provider’s stock valued at $2,859,000 after purchasing an additional 257,310 shares during the period. 61.19% of the stock is currently owned by institutional investors and hedge funds.

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.