Hsbc Holdings PLC Decreases Stock Holdings in Global Net Lease, Inc. (NYSE:GNL)

Hsbc Holdings PLC lessened its stake in shares of Global Net Lease, Inc. (NYSE:GNL) by 11.2% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 4,129,347 shares of the financial services provider’s stock after selling 519,977 shares during the period. Hsbc Holdings PLC owned approximately 1.79% of Global Net Lease worth $29,951,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Edgestream Partners L.P. raised its holdings in Global Net Lease by 58.1% during the 2nd quarter. Edgestream Partners L.P. now owns 772,479 shares of the financial services provider’s stock valued at $5,678,000 after buying an additional 283,739 shares during the period. Quest Partners LLC raised its holdings in Global Net Lease by 21,578.4% during the 2nd quarter. Quest Partners LLC now owns 33,168 shares of the financial services provider’s stock valued at $244,000 after buying an additional 33,015 shares during the period. Paralel Advisors LLC purchased a new stake in Global Net Lease during the 2nd quarter valued at $1,102,000. Verus Capital Partners LLC purchased a new stake in Global Net Lease during the 2nd quarter valued at $74,000. Finally, GraniteShares Advisors LLC raised its holdings in Global Net Lease by 14.2% during the 2nd quarter. GraniteShares Advisors LLC now owns 192,686 shares of the financial services provider’s stock valued at $1,416,000 after buying an additional 24,029 shares during the period. Hedge funds and other institutional investors own 61.19% of the company’s stock.

Global Net Lease Price Performance

GNL opened at $8.67 on Friday. Global Net Lease, Inc. has a 12-month low of $6.52 and a 12-month high of $10.69. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.72. The business’s fifty day simple moving average is $8.53 and its 200-day simple moving average is $7.75. The company has a market capitalization of $2.00 billion, a price-to-earnings ratio of -4.76, a PEG ratio of 1.13 and a beta of 1.38.

Global Net Lease (NYSE:GNL) last posted its quarterly earnings results on Tuesday, August 6th. The financial services provider reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.52). Global Net Lease had a negative return on equity of 9.41% and a negative net margin of 33.26%. The firm had revenue of $203.29 million for the quarter, compared to the consensus estimate of $204.80 million. During the same period in the previous year, the company posted $0.40 EPS. On average, equities research analysts anticipate that Global Net Lease, Inc. will post 1.27 earnings per share for the current fiscal year.

Global Net Lease Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 16th. Investors of record on Thursday, July 11th were given a dividend of $0.275 per share. The ex-dividend date of this dividend was Thursday, July 11th. This represents a $1.10 dividend on an annualized basis and a yield of 12.69%. This is an increase from Global Net Lease’s previous quarterly dividend of $0.06. Global Net Lease’s dividend payout ratio (DPR) is presently -60.44%.

Analyst Ratings Changes

GNL has been the topic of several recent research reports. BMO Capital Markets restated an “outperform” rating and set a $11.00 price target on shares of Global Net Lease in a report on Friday, June 28th. Truist Financial increased their target price on Global Net Lease from $8.00 to $8.50 and gave the stock a “hold” rating in a research note on Wednesday, August 21st. JMP Securities reiterated a “market perform” rating on shares of Global Net Lease in a research note on Wednesday, June 12th. B. Riley reduced their target price on Global Net Lease from $11.00 to $10.00 and set a “buy” rating on the stock in a research note on Monday, August 12th. Finally, StockNews.com upgraded Global Net Lease from a “sell” rating to a “hold” rating in a research note on Thursday, August 8th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, Global Net Lease presently has an average rating of “Hold” and an average price target of $9.83.

Insider Activity at Global Net Lease

In related news, major shareholder Nicholas S. Schorsch sold 100,000 shares of the firm’s stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $7.02, for a total transaction of $702,000.00. Following the sale, the insider now owns 1,829,073 shares of the company’s stock, valued at $12,840,092.46. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Global Net Lease news, major shareholder Nicholas S. Schorsch sold 150,000 shares of the firm’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $7.19, for a total value of $1,078,500.00. Following the completion of the sale, the insider now owns 2,079,073 shares of the company’s stock, valued at $14,948,534.87. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, major shareholder Nicholas S. Schorsch sold 100,000 shares of the firm’s stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $7.02, for a total value of $702,000.00. Following the completion of the sale, the insider now directly owns 1,829,073 shares of the company’s stock, valued at approximately $12,840,092.46. The disclosure for this sale can be found here. 0.31% of the stock is owned by corporate insiders.

About Global Net Lease

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.