Hsbc Holdings PLC Sells 271,669 Shares of Global Net Lease, Inc. (NYSE:GNL)

Hsbc Holdings PLC lowered its stake in Global Net Lease, Inc. (NYSE:GNL) by 6.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,647,798 shares of the financial services provider’s stock after selling 271,669 shares during the quarter. Hsbc Holdings PLC owned approximately 1.58% of Global Net Lease worth $26,419,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

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

Global Net Lease Price Performance

Shares of NYSE GNL opened at $7.53 on Friday. The company has a market capitalization of $1.72 billion, a PE ratio of -8.01 and a beta of 1.19. 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 twelve month low of $6.51 and a twelve month high of $9.11. The firm has a fifty day simple moving average of $7.66 and a 200 day simple moving average of $7.52.

Global Net Lease Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 16th. Stockholders of record on Friday, April 11th were given a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 10.10%. The ex-dividend date of this dividend was Friday, April 11th. Global Net Lease’s dividend payout ratio (DPR) is presently -100.00%.

Insider Activity

In other Global Net Lease news, major shareholder Nicholas S. Schorsch sold 200,000 shares of the business’s stock in a transaction that occurred 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 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 Securities & Exchange Commission, which can be accessed through this hyperlink. 0.37% of the stock is owned by company insiders.

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.