Global Net Lease, Inc. (NYSE:GNL) Major Shareholder Nicholas S. Schorsch Sells 100,000 Shares

Global Net Lease, Inc. (NYSE:GNL) major shareholder Nicholas S. Schorsch sold 100,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $7.99, for a total value of $799,000.00. Following the completion of the transaction, the insider now owns 1,529,073 shares in the company, valued at approximately $12,217,293.27. This trade represents a 6.14% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Global Net Lease Trading Down 1.3%

Global Net Lease stock traded down $0.10 during trading on Monday, reaching $7.88. 1,289,828 shares of the company were exchanged, compared to its average volume of 1,537,939. Global Net Lease, Inc. has a 52-week low of $6.51 and a 52-week high of $9.11. The company has a market capitalization of $1.80 billion, a P/E ratio of -8.38 and a beta of 1.22. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.06 and a quick ratio of 0.06. The stock’s 50 day simple moving average is $7.66 and its two-hundred day simple moving average is $7.47.

Global Net Lease (NYSE:GNL) last announced its quarterly earnings data on Wednesday, May 7th. The financial services provider reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.06. Global Net Lease had a negative return on equity of 7.04% and a negative net margin of 21.37%. The firm had revenue of $132.42 million for the quarter, compared to the consensus estimate of $187.40 million. On average, equities research analysts expect that Global Net Lease, Inc. will post 1.26 earnings per share for the current fiscal year.

Global Net Lease Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 16th. Investors of record on Friday, April 11th were given a dividend of $0.19 per share. The ex-dividend date of this dividend was Friday, April 11th. This represents a $0.76 dividend on an annualized basis and a yield of 9.64%. Global Net Lease’s payout ratio is -51.35%.

Institutional Investors Weigh In On Global Net Lease

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. CoreCap Advisors LLC purchased a new stake in Global Net Lease in the fourth quarter valued at $25,000. Ameriflex Group Inc. purchased a new stake in Global Net Lease in the fourth quarter valued at $25,000. GF Fund Management CO. LTD. purchased a new stake in Global Net Lease in the fourth quarter valued at $26,000. US Bancorp DE raised its position in Global Net Lease by 363.2% in the fourth quarter. US Bancorp DE now owns 6,072 shares of the financial services provider’s stock valued at $44,000 after purchasing an additional 4,761 shares during the period. Finally, Creative Financial Designs Inc. ADV raised its position in Global Net Lease by 119.4% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 6,659 shares of the financial services provider’s stock valued at $49,000 after purchasing an additional 3,624 shares during the period. Hedge funds and other institutional investors own 61.19% of the company’s stock.

Analysts Set New Price Targets

Separately, B. Riley initiated coverage on Global Net Lease in a research report on Tuesday, April 22nd. They set a “neutral” rating and a $8.00 price objective on the stock. Three research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $9.00.

Global Net Lease Company Profile

Global Net Lease, Inc (NYSE: GNL) is a publicly traded real estate investment trust listed on the NYSE. The firm 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.