Nicholas S. Schorsch Sells 150,000 Shares of Global Net Lease, Inc. (NYSE:GNL) Stock

Global Net Lease, Inc. (NYSE:GNL) major shareholder Nicholas S. Schorsch sold 150,000 shares of the business’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 value of $1,078,500.00. Following the transaction, the insider now owns 2,079,073 shares in the company, valued at $14,948,534.87. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Global Net Lease Stock Performance

NYSE GNL opened at $7.19 on Friday. The stock has a market cap of $1.66 billion, a PE ratio of -3.95, a P/E/G ratio of 0.91 and a beta of 1.38. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.70. Global Net Lease, Inc. has a twelve month low of $6.52 and a twelve month high of $11.58. The stock has a fifty day simple moving average of $7.29 and a 200-day simple moving average of $7.94.

Global Net Lease Increases Dividend

The business also recently declared 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. The ex-dividend date of this dividend was Wednesday, April 10th. This is a boost from Global Net Lease’s previous quarterly dividend of $0.06. This represents a $1.10 dividend on an annualized basis and a dividend yield of 15.30%. Global Net Lease’s dividend payout ratio (DPR) is currently -60.44%.

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On Global Net Lease

Several large investors have recently made changes to their positions in GNL. Rhumbline Advisers raised its position in Global Net Lease by 76.4% in the third quarter. Rhumbline Advisers now owns 688,438 shares of the financial services provider’s stock valued at $6,616,000 after purchasing an additional 298,192 shares during the period. Invesco Ltd. lifted its stake in Global Net Lease by 18.3% during the 3rd quarter. Invesco Ltd. now owns 2,231,893 shares of the financial services provider’s stock worth $21,448,000 after acquiring an additional 345,120 shares in the last quarter. Northern Trust Corp lifted 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 worth $21,311,000 after acquiring an additional 1,011,160 shares in the last quarter. Cary Street Partners Investment Advisory LLC boosted its holdings in Global Net Lease by 66.1% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 7,805 shares of the financial services provider’s stock valued at $75,000 after acquiring an additional 3,106 shares during the period. Finally, Meiji Yasuda Asset Management Co Ltd. grew its position in Global Net Lease by 85.9% in the 3rd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 54,326 shares of the financial services provider’s stock valued at $522,000 after acquiring an additional 25,106 shares in the last quarter. 61.19% of the stock is currently owned by institutional investors and hedge funds.

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.