Nicholas S. Schorsch Sells 100,000 Shares of Global Net Lease, Inc. (NYSE:GNL) Stock

Global Net Lease, Inc. (NYSE:GNL) major shareholder Nicholas S. Schorsch sold 100,000 shares of Global Net Lease stock in a transaction on 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 directly owns 1,829,073 shares in the company, valued at approximately $12,840,092.46. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Global Net Lease Stock Performance

Shares of Global Net Lease stock opened at $7.19 on Friday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.05 and a current ratio of 0.05. Global Net Lease, Inc. has a 1 year low of $6.52 and a 1 year high of $11.58. The firm’s 50-day simple moving average is $7.29 and its 200-day simple moving average is $7.94. The firm 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.

Global Net Lease Increases Dividend

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

Hedge Funds Weigh In On Global Net Lease

Large investors have recently added to or reduced their stakes in the company. New York State Common Retirement Fund raised its stake in Global Net Lease by 0.7% during the fourth quarter. New York State Common Retirement Fund now owns 163,541 shares of the financial services provider’s stock worth $1,627,000 after acquiring an additional 1,215 shares during the period. Raleigh Capital Management Inc. grew its holdings in shares of Global Net Lease by 59.1% during the third quarter. Raleigh Capital Management Inc. now owns 4,249 shares of the financial services provider’s stock valued at $41,000 after purchasing an additional 1,579 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its position in shares of 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 purchasing an additional 1,666 shares during the period. Texas Permanent School Fund Corp lifted its holdings in shares of Global Net Lease by 1.0% in 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 purchasing an additional 1,689 shares during the last quarter. Finally, Nisa Investment Advisors LLC lifted its holdings in shares of Global Net Lease by 1.5% in the 4th quarter. Nisa Investment Advisors LLC now owns 136,718 shares of the financial services provider’s stock worth $1,360,000 after purchasing an additional 1,968 shares during the last quarter. 61.19% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

GNL has been the subject of several recent analyst reports. Truist Financial initiated coverage on Global Net Lease in a research note on Thursday, March 28th. They set a “hold” rating and a $7.00 target price for the company. BTIG Research lowered Global Net Lease from a “buy” rating to a “neutral” rating in a research note on Friday, March 8th. Finally, JMP Securities restated a “market perform” rating on shares of Global Net Lease in a report on Wednesday, June 12th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, Global Net Lease has a consensus rating of “Hold” and an average price target of $11.00.

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.