Global Net Lease, Inc. (NYSE:GNL) Major Shareholder Sells $1,590,000.00 in Stock

Global Net Lease, Inc. (NYSE:GNL) major shareholder Nicholas S. Schorsch sold 200,000 shares of the business’s stock in a transaction on 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 $12,951,130.35. This represents a 10.93 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Global Net Lease Price Performance

NYSE:GNL traded down $0.28 during mid-day trading on Friday, reaching $7.53. 3,296,834 shares of the company were exchanged, compared to its average volume of 1,463,758. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 0.70. The stock has a market cap of $1.74 billion, a PE ratio of -8.01 and a beta of 1.18. Global Net Lease, Inc. has a 12 month low of $6.52 and a 12 month high of $9.11. The company has a fifty day moving average of $7.61 and a 200 day moving average of $7.67.

Global Net Lease Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 16th. Stockholders of record on Friday, April 11th will be paid a dividend of $0.19 per share. The ex-dividend date is Friday, April 11th. This represents a $0.76 annualized dividend and a dividend yield of 10.10%. Global Net Lease’s dividend payout ratio (DPR) is currently -144.74%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of GNL. CoreCap Advisors LLC bought a new position in Global Net Lease in the 4th quarter valued at $25,000. Ameriflex Group Inc. acquired a new position in shares of Global Net Lease during the fourth quarter valued at $25,000. GF Fund Management CO. LTD. bought a new position in Global Net Lease in the fourth quarter valued at about $26,000. US Bancorp DE increased its position in Global Net Lease by 363.2% in the fourth quarter. US Bancorp DE now owns 6,072 shares of the financial services provider’s stock worth $44,000 after purchasing an additional 4,761 shares during the period. Finally, Creative Financial Designs Inc. ADV raised its holdings 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 worth $49,000 after purchasing an additional 3,624 shares during the last quarter. Institutional investors own 61.19% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Citizens Jmp raised shares of Global Net Lease from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 17th. JMP Securities upgraded shares of Global Net Lease from a “market perform” rating to an “outperform” rating and set a $9.00 target price for the company in a research note on Tuesday, December 17th. Two analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $9.50.

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.