Global Net Lease, Inc. (NYSE:GNL – Get Free Report) 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
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.
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