Global Net Lease, Inc. (NYSE:GNL) Major Shareholder Nicholas S. Schorsch Sells 200,000 Shares

Global Net Lease, Inc. (NYSE:GNLGet Free Report) major shareholder Nicholas S. Schorsch sold 200,000 shares of the business’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $7.16, for a total value of $1,432,000.00. Following the transaction, the insider now directly owns 3,201,694 shares of the company’s stock, valued at $22,924,129.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 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 Stock Performance

Shares of GNL stock opened at $7.13 on Thursday. The stock has a fifty day moving average price of $7.24 and a 200 day moving average price of $8.03. 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 stock has a market cap of $1.64 billion, a PE ratio of -3.92, a P/E/G ratio of 0.92 and a beta of 1.38. 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 company also recently declared a quarterly dividend, which was paid on Tuesday, April 16th. Stockholders of record on Thursday, April 11th were paid a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 15.43%. 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 -60.44%.

Institutional Trading of Global Net Lease

Several large investors have recently modified their holdings of GNL. Amalgamated Bank lifted its holdings in Global Net Lease by 80.9% in the 3rd quarter. Amalgamated Bank now owns 75,588 shares of the financial services provider’s stock valued at $726,000 after purchasing an additional 33,814 shares in the last quarter. Swiss National Bank lifted its stake in shares of Global Net Lease by 88.5% during the third quarter. Swiss National Bank now owns 426,057 shares of the financial services provider’s stock valued at $4,094,000 after buying an additional 199,990 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Global Net Lease by 93.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,497,508 shares of the financial services provider’s stock worth $33,611,000 after acquiring an additional 1,686,201 shares during the last quarter. Van ECK Associates Corp grew its stake in Global Net Lease by 94.2% in the 3rd quarter. Van ECK Associates Corp now owns 22,794 shares of the financial services provider’s stock worth $219,000 after acquiring an additional 11,058 shares during the period. Finally, HighTower Advisors LLC raised its holdings in Global Net Lease by 210.2% in the 3rd quarter. HighTower Advisors LLC now owns 151,320 shares of the financial services provider’s stock valued at $1,458,000 after acquiring an additional 102,533 shares during the last quarter. 61.19% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Check Out Our Latest Research Report on Global Net Lease

About Global Net Lease

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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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