Global Net Lease, Inc. (NYSE:GNL) Major Shareholder Sells $1,078,500.00 in Stock

Global Net Lease, Inc. (NYSE:GNL) major shareholder Nicholas S. Schorsch sold 150,000 shares of the company’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $7.19, for a total transaction of $1,078,500.00. Following the sale, the insider now directly owns 2,079,073 shares of the company’s stock, valued at $14,948,534.87. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Global Net Lease Stock Up 2.4 %

GNL stock opened at $7.19 on Friday. Global Net Lease, Inc. has a twelve month low of $6.52 and a twelve 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 company has a market cap of $1.66 billion, a PE ratio of -3.95, a price-to-earnings-growth ratio of 0.91 and a beta of 1.38. The business’s 50-day simple moving average is $7.29 and its 200 day simple moving average is $7.94.

Global Net Lease Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 16th. Investors of record on Thursday, April 11th were paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 15.30%. This is a positive change from Global Net Lease’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend was Wednesday, April 10th. Global Net Lease’s dividend payout ratio is presently -60.44%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Truist Financial initiated coverage on shares of Global Net Lease in a research report on Thursday, March 28th. They set a “hold” rating and a $7.00 target price for the company. BTIG Research downgraded Global Net Lease from a “buy” rating to a “neutral” rating in a research note on Friday, March 8th. Finally, JMP Securities reiterated a “market perform” rating on shares of Global Net Lease in a report on Wednesday, June 12th. One investment 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. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $11.00.

Institutional Investors Weigh In On Global Net Lease

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in Global Net Lease by 83.8% in the third quarter. Vanguard Group Inc. now owns 30,770,077 shares of the financial services provider’s stock valued at $295,700,000 after acquiring an additional 14,033,117 shares during the period. Corient Private Wealth LLC grew its stake in shares of Global Net Lease by 3,410.4% in the 4th quarter. Corient Private Wealth LLC now owns 2,688,951 shares of the financial services provider’s stock valued at $26,755,000 after purchasing an additional 2,612,351 shares during the period. Northern Trust Corp raised its holdings in shares of Global Net Lease by 83.8% in the 3rd quarter. Northern Trust Corp now owns 2,217,620 shares of the financial services provider’s stock worth $21,311,000 after buying an additional 1,011,160 shares in the last quarter. Norges Bank bought a new position in shares of Global Net Lease during the 4th quarter worth approximately $9,378,000. Finally, Edgestream Partners L.P. acquired a new stake in Global Net Lease in the 1st quarter valued at $3,798,000. Institutional investors and hedge funds 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.