Global Net Lease, Inc. (NYSE:GNL) Major Shareholder Nicholas S. Schorsch Sells 159,720 Shares

Global Net Lease, Inc. (NYSE:GNL) major shareholder Nicholas S. Schorsch sold 159,720 shares of Global Net Lease stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $7.32, for a total transaction of $1,169,150.40. Following the completion of the sale, the insider now directly owns 3,546,752 shares in the company, valued at approximately $25,962,224.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Global Net Lease Stock Performance

NYSE GNL opened at $7.19 on Tuesday. The company’s 50 day moving average is $7.25 and its 200-day moving average is $8.05. Global Net Lease, Inc. has a 12-month low of $6.52 and a 12-month high of $11.58. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.70. The firm has a market cap of $1.66 billion, a P/E ratio of -3.95, a price-to-earnings-growth ratio of 0.92 and a beta of 1.38.

Global Net Lease Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 16th. Stockholders of record on Thursday, April 11th were given a $0.275 dividend. The ex-dividend date was Wednesday, April 10th. This represents a $1.10 annualized dividend and a dividend yield of 15.31%. This is a positive change from Global Net Lease’s previous quarterly dividend of $0.06. Global Net Lease’s payout ratio is -60.44%.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. BTIG Research lowered shares of Global Net Lease from a “buy” rating to a “neutral” rating in a research report on Friday, March 8th. Truist Financial assumed coverage on shares of Global Net Lease in a research report on Thursday, March 28th. They issued a “hold” rating and a $7.00 price objective on the stock. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Global Net Lease in a research report on Wednesday, June 12th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $11.00.

Institutional Trading of Global Net Lease

Several hedge funds and other institutional investors have recently modified their holdings of the business. New York State Common Retirement Fund raised its position in shares of Global Net Lease by 0.7% in the fourth quarter. New York State Common Retirement Fund now owns 163,541 shares of the financial services provider’s stock valued at $1,627,000 after purchasing an additional 1,215 shares during the period. Raleigh Capital Management Inc. increased its holdings in Global Net Lease by 59.1% during the 3rd quarter. Raleigh Capital Management Inc. now owns 4,249 shares of the financial services provider’s stock worth $41,000 after acquiring an additional 1,579 shares during the period. Cambridge Investment Research Advisors Inc. increased its holdings in Global Net Lease by 0.5% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 360,146 shares of the financial services provider’s stock worth $3,583,000 after acquiring an additional 1,666 shares during the period. Texas Permanent School Fund Corp increased its holdings in Global Net Lease by 1.0% during the 1st quarter. Texas Permanent School Fund Corp now owns 170,328 shares of the financial services provider’s stock worth $1,323,000 after acquiring an additional 1,689 shares during the period. Finally, Nisa Investment Advisors LLC increased its holdings in Global Net Lease by 1.5% during the 4th quarter. Nisa Investment Advisors LLC now owns 136,718 shares of the financial services provider’s stock worth $1,360,000 after acquiring an additional 1,968 shares during the period. Institutional investors own 61.19% of the company’s stock.

Global Net Lease Company Profile

Global Net Lease, Inc (NYSE: GNL) is a publicly traded real estate investment trust listed on the NYSE 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.