Hsbc Holdings PLC Has $26.42 Million Stock Holdings in Global Net Lease, Inc. (NYSE:GNL)

Hsbc Holdings PLC trimmed its position in Global Net Lease, Inc. (NYSE:GNL) by 6.9% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 3,647,798 shares of the financial services provider’s stock after selling 271,669 shares during the quarter. Hsbc Holdings PLC’s holdings in Global Net Lease were worth $26,419,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. US Bancorp DE grew its holdings in shares of Global Net Lease by 363.2% during the fourth quarter. US Bancorp DE now owns 6,072 shares of the financial services provider’s stock valued at $44,000 after buying an additional 4,761 shares during the last quarter. Creative Financial Designs Inc. ADV boosted its stake in Global Net Lease by 119.4% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 6,659 shares of the financial services provider’s stock valued at $49,000 after purchasing an additional 3,624 shares during the last quarter. McIlrath & Eck LLC acquired a new position in Global Net Lease during the 3rd quarter valued at about $67,000. Allworth Financial LP increased its holdings in Global Net Lease by 157.6% during the 4th quarter. Allworth Financial LP now owns 10,314 shares of the financial services provider’s stock worth $74,000 after purchasing an additional 6,310 shares in the last quarter. Finally, HB Wealth Management LLC purchased a new stake in shares of Global Net Lease in the fourth quarter worth approximately $81,000. 61.19% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, major shareholder Nicholas S. Schorsch sold 200,000 shares of the firm’s stock in a transaction dated 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 sale, the insider now owns 1,629,073 shares in the company, 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 filing with the SEC, which is accessible through this link. 0.37% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

Global Net Lease Trading Up 0.5 %

NYSE:GNL opened at $7.53 on Friday. Global Net Lease, Inc. has a 52 week low of $6.51 and a 52 week high of $9.11. The firm has a 50-day moving average price of $7.66 and a two-hundred day moving average price of $7.52. 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 firm has a market cap of $1.72 billion, a price-to-earnings ratio of -8.01 and a beta of 1.19.

Global Net Lease Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 16th. Investors of record on Friday, April 11th were given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 10.10%. The ex-dividend date of this dividend was Friday, April 11th. Global Net Lease’s payout ratio is -100.00%.

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.