Insider Selling: Global Net Lease, Inc. (NYSE:GNL) Major Shareholder Sells $702,000.00 in Stock

Global Net Lease, Inc. (NYSE:GNL) major shareholder Nicholas S. Schorsch sold 100,000 shares of the firm’s stock in a transaction 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 transaction, the insider now owns 1,829,073 shares in the company, valued at approximately $12,840,092.46. The transaction was disclosed in a document filed with the SEC, which is available at this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Global Net Lease Trading Up 2.2 %

Global Net Lease stock opened at $7.35 on Friday. Global Net Lease, Inc. has a 52 week low of $6.52 and a 52 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 PE ratio of -4.04, a PEG ratio of 0.90 and a beta of 1.38. The business’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 firm also recently declared a quarterly dividend, which was paid on Tuesday, April 16th. Shareholders of record on Thursday, April 11th were given a $0.275 dividend. This is an increase from Global Net Lease’s previous quarterly dividend of $0.06. This represents a $1.10 annualized dividend and a yield of 14.97%. The ex-dividend date was Wednesday, April 10th. Global Net Lease’s payout ratio is currently -60.44%.

Institutional Investors Weigh In On Global Net Lease

Several hedge funds have recently modified their holdings of GNL. Scarborough Advisors LLC acquired a new position in Global Net Lease during the 4th quarter valued at $25,000. Beaird Harris Wealth Management LLC bought a new stake in shares of Global Net Lease in the third quarter valued at about $26,000. Turtle Creek Wealth Advisors LLC acquired a new stake in Global Net Lease during the fourth quarter worth about $31,000. Raleigh Capital Management Inc. increased its stake in Global Net Lease by 59.1% during the third quarter. Raleigh Capital Management Inc. now owns 4,249 shares of the financial services provider’s stock valued at $41,000 after acquiring an additional 1,579 shares during the period. Finally, Beacon Capital Management LLC acquired a new position in Global Net Lease in the 4th quarter valued at approximately $43,000. 61.19% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on GNL. JMP Securities reissued a “market perform” rating on shares of Global Net Lease in a research report on Wednesday, June 12th. Truist Financial assumed coverage on Global Net Lease in a research note on Thursday, March 28th. They issued a “hold” rating and a $7.00 price objective on the stock. BTIG Research lowered Global Net Lease from a “buy” rating to a “neutral” rating in a report on Friday, March 8th. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $11.00 price target on shares of Global Net Lease in a report on Friday. One investment 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. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average 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.