Sunbelt Securities Inc. Sells 1,668 Shares of Global Net Lease, Inc. (NYSE:GNL)

Sunbelt Securities Inc. trimmed its position in shares of Global Net Lease, Inc. (NYSE:GNL) by 11.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,098 shares of the financial services provider’s stock after selling 1,668 shares during the period. Sunbelt Securities Inc.’s holdings in Global Net Lease were worth $102,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Scarborough Advisors LLC bought a new position in Global Net Lease during the 4th quarter valued at about $25,000. Beaird Harris Wealth Management LLC bought a new position in Global Net Lease in the 3rd quarter worth about $26,000. Turtle Creek Wealth Advisors LLC bought a new position in Global Net Lease in the 4th quarter worth about $31,000. Raleigh Capital Management Inc. grew its stake in Global Net Lease by 59.1% in the 3rd quarter. Raleigh Capital Management Inc. now owns 4,249 shares of the financial services provider’s stock worth $41,000 after acquiring an additional 1,579 shares in the last quarter. Finally, Beacon Capital Management LLC bought a new position in Global Net Lease in the 4th quarter worth about $43,000. 61.19% of the stock is currently owned by institutional investors.

Insider Transactions at Global Net Lease

In related news, major shareholder Nicholas S. Schorsch sold 200,000 shares of the stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $7.16, for a total transaction of $1,432,000.00. Following the completion of the sale, the insider now owns 3,201,694 shares of the company’s stock, valued at $22,924,129.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, major shareholder Nicholas S. Schorsch sold 200,000 shares of the stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $7.16, for a total transaction of $1,432,000.00. Following the completion of the sale, the insider now owns 3,201,694 shares of the company’s stock, valued at $22,924,129.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 sale, the insider now directly owns 1,829,073 shares of the company’s stock, valued at approximately $12,840,092.46. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,043,070 shares of company stock valued at $7,497,437. Company insiders own 0.31% of the company’s stock.

Global Net Lease Price Performance

Shares of GNL opened at $7.35 on Friday. The company has a 50 day moving average price of $7.31 and a 200-day moving average price of $7.92. Global Net Lease, Inc. has a fifty-two week low of $6.52 and a fifty-two week high of $11.58. The stock has a market capitalization of $1.69 billion, a PE ratio of -4.04, a PEG ratio of 0.92 and a beta of 1.38. 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 Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 16th. Stockholders of record on Thursday, April 11th were given a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 14.97%. 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. Global Net Lease’s dividend payout ratio is presently -60.44%.

Wall Street Analysts Forecast Growth

GNL has been the topic of a number of research analyst reports. BMO Capital Markets restated an “outperform” rating and issued a $11.00 target price on shares of Global Net Lease in a research note on Friday. Truist Financial initiated coverage on shares of Global Net Lease in a research note on Thursday, March 28th. They issued a “hold” rating and a $7.00 target price on the stock. BTIG Research downgraded shares of Global Net Lease from a “buy” rating to a “neutral” rating in a research note on Friday, March 8th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Global Net Lease in a research report on Wednesday, June 12th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, Global Net Lease presently has a consensus rating of “Hold” and a consensus 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.