Global Net Lease, Inc. (NYSE:GNL – Get Free Report) 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
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.
View Our Latest Analysis on GNL
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.
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