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 stock in a transaction on Wednesday, June 26th. The stock was 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 Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Global Net Lease Stock Down 0.6 %

Shares of GNL stock traded down $0.04 on Wednesday, hitting $7.03. The stock had a trading volume of 1,168,158 shares, compared to its average volume of 1,530,031. The firm has a market capitalization 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 stock’s 50 day moving average is $7.27 and its 200-day moving average is $7.95. 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, Inc. has a 52-week low of $6.52 and a 52-week high of $11.58.

Global Net Lease Increases Dividend

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

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Corient Private Wealth LLC boosted its stake in Global Net Lease by 3,410.4% during 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 acquiring an additional 2,612,351 shares during the last quarter. Vanguard Group Inc. boosted its stake in Global Net Lease by 83.8% during the 3rd quarter. Vanguard Group Inc. now owns 30,770,077 shares of the financial services provider’s stock valued at $295,700,000 after acquiring an additional 14,033,117 shares during the last quarter. Northern Trust Corp boosted 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 valued at $21,311,000 after acquiring an additional 1,011,160 shares during the last quarter. CastleKnight Management LP boosted its stake in Global Net Lease by 59.2% during 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 acquiring an additional 432,729 shares during the last quarter. Finally, Public Sector Pension Investment Board boosted its stake in Global Net Lease by 30.3% during 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 acquiring an additional 55,871 shares during the last quarter. 61.19% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on GNL. Truist Financial began coverage on shares of Global Net Lease in a research report on Thursday, March 28th. They issued a “hold” rating and a $7.00 price objective for the company. 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 restated a “market perform” rating on shares of Global Net Lease in a research note on Wednesday, June 12th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, Global Net Lease presently 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.