Insider Selling: Global Net Lease, Inc. (NYSE:GNL) Major Shareholder Sells 100,000 Shares of Stock

Global Net Lease, Inc. (NYSE:GNL) major shareholder Nicholas S. Schorsch sold 100,000 shares of the stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $7.02, for a total transaction of $702,000.00. Following the completion of the sale, the insider now directly owns 1,829,073 shares of the company’s stock, valued at approximately $12,840,092.46. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Global Net Lease Trading Down 0.6 %

Shares of NYSE:GNL traded down $0.04 during mid-day trading on Wednesday, reaching $7.03. 1,168,158 shares of the company were exchanged, compared to its average volume of 1,530,031. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.05 and a quick ratio of 0.05. The firm has a market cap of $1.62 billion, a price-to-earnings ratio of -3.86, a P/E/G ratio of 0.91 and a beta of 1.38. The firm’s 50-day simple moving average is $7.27 and its 200 day simple moving average is $7.95. Global Net Lease, Inc. has a 1 year low of $6.52 and a 1 year high of $11.58.

Global Net Lease Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 16th. Investors of record on Thursday, April 11th were given a dividend of $0.275 per share. The ex-dividend date was Wednesday, April 10th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 15.66%. This is a boost from Global Net Lease’s previous quarterly dividend of $0.06. Global Net Lease’s dividend payout ratio (DPR) is presently -60.44%.

Analysts Set New Price Targets

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

Hedge Funds Weigh In On Global Net Lease

A number of hedge funds have recently made changes to their positions in GNL. Corient Private Wealth LLC boosted 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 buying an additional 2,612,351 shares during the period. Vanguard Group Inc. lifted 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 worth $295,700,000 after acquiring an additional 14,033,117 shares during the last quarter. Northern Trust Corp grew its holdings 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 worth $21,311,000 after acquiring an additional 1,011,160 shares in the last quarter. CastleKnight Management LP increased its position in shares of Global Net Lease by 59.2% in the 4th 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 last quarter. Finally, Public Sector Pension Investment Board raised its holdings in shares of Global Net Lease by 30.3% in the 3rd quarter. Public Sector Pension Investment Board now owns 240,201 shares of the financial services provider’s stock valued at $2,308,000 after purchasing an additional 55,871 shares in the last quarter. Hedge funds and other institutional investors 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.