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 firm’s stock in a transaction that occurred 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 transaction, the insider now directly owns 2,079,073 shares in the company, valued at $14,948,534.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Major 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 Price Performance

Shares of GNL stock opened at $7.35 on Friday. Global Net Lease, Inc. has a fifty-two week low of $6.52 and a fifty-two week high of $11.58. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.05 and a current ratio of 0.05. The firm has a market capitalization of $1.69 billion, a price-to-earnings ratio of -4.04, a PEG ratio of 0.90 and a beta of 1.38. The stock’s 50-day simple moving average is $7.31 and its 200-day simple moving average is $7.93.

Global Net Lease Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 16th. Shareholders of record on Thursday, April 11th were given a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 14.97%. The ex-dividend date was Wednesday, April 10th. This is an increase from Global Net Lease’s previous quarterly dividend of $0.06. Global Net Lease’s payout ratio is currently -60.44%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Corient Private Wealth LLC grew its holdings in shares of Global Net Lease by 3,410.4% during the fourth quarter. Corient Private Wealth LLC now owns 2,688,951 shares of the financial services provider’s stock valued at $26,755,000 after buying an additional 2,612,351 shares during the last quarter. Vanguard Group Inc. lifted its position in Global Net Lease by 83.8% during the 3rd quarter. Vanguard Group Inc. now owns 30,770,077 shares of the financial services provider’s stock worth $295,700,000 after acquiring an additional 14,033,117 shares during the period. Northern Trust Corp grew its stake in Global Net Lease by 83.8% during the 3rd quarter. Northern Trust Corp now owns 2,217,620 shares of the financial services provider’s stock valued at $21,311,000 after purchasing an additional 1,011,160 shares during the last quarter. CastleKnight Management LP increased its holdings in shares of Global Net Lease by 59.2% in the fourth quarter. CastleKnight Management LP now owns 1,164,081 shares of the financial services provider’s stock valued at $11,583,000 after purchasing an additional 432,729 shares during the period. Finally, Public Sector Pension Investment Board raised its stake in shares of Global Net Lease by 30.3% in the third quarter. Public Sector Pension Investment Board now owns 240,201 shares of the financial services provider’s stock worth $2,308,000 after purchasing an additional 55,871 shares during the last quarter. Hedge funds and other institutional investors own 61.19% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on GNL shares. BTIG Research cut Global Net Lease from a “buy” rating to a “neutral” rating in a report on Friday, March 8th. BMO Capital Markets reiterated an “outperform” rating and set a $11.00 target price on shares of Global Net Lease in a report on Friday. JMP Securities restated a “market perform” rating on shares of Global Net Lease in a report on Wednesday, June 12th. Finally, Truist Financial began coverage on shares of Global Net Lease in a research note on Thursday, March 28th. They set a “hold” rating and a $7.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, Global Net Lease presently has a consensus rating of “Hold” and an average target price 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.