Global Net Lease, Inc. (NYSE:GNL) Major Shareholder Sells $1,590,000.00 in Stock

Global Net Lease, Inc. (NYSE:GNL - Get Free Report) major shareholder Nicholas S. Schorsch sold 200,000 shares of the stock in a transaction on Thursday, April 3rd. The shares were sold at an average price of $7.95, for a total value of $1,590,000.00. Following the completion of the transaction, the insider now directly owns 1,629,073 shares in the company, valued at approximately $12,951,130.35. This trade represents a 10.93 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own more than 10% of a company's stock are required to disclose their sales and purchases with the SEC.

Global Net Lease Stock Down 1.8 %

Shares of GNL traded down $0.12 on Wednesday, hitting $6.70. The company's stock had a trading volume of 2,552,913 shares, compared to its average volume of 1,489,006. The firm's fifty day moving average price is $7.60 and its 200-day moving average price is $7.62. Global Net Lease, Inc. has a fifty-two week low of $6.52 and a fifty-two week high of $9.11. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 0.70. The firm has a market capitalization of $1.55 billion, a price-to-earnings ratio of -7.06 and a beta of 1.19.

Global Net Lease Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 16th. Stockholders of record on Friday, April 11th will be given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 11.34%. The ex-dividend date is Friday, April 11th. Global Net Lease's dividend payout ratio is -100.00%.

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Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. JMP Securities upgraded Global Net Lease from a "market perform" rating to an "outperform" rating and set a $9.00 target price for the company in a research report on Tuesday, December 17th. Citizens Jmp raised shares of Global Net Lease from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, December 17th. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Global Net Lease presently has an average rating of "Moderate Buy" and an average price target of $9.50.

Institutional Investors Weigh In On Global Net Lease

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Cerity Partners LLC lifted its holdings in shares of Global Net Lease by 114.8% in the third quarter. Cerity Partners LLC now owns 50,435 shares of the financial services provider's stock valued at $425,000 after purchasing an additional 26,959 shares in the last quarter. FMR LLC lifted its stake in Global Net Lease by 11.2% in the 3rd quarter. FMR LLC now owns 36,370 shares of the financial services provider's stock valued at $306,000 after acquiring an additional 3,675 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Global Net Lease by 392.8% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,048,596 shares of the financial services provider's stock worth $8,829,000 after acquiring an additional 835,830 shares during the last quarter. Walleye Capital LLC bought a new position in shares of Global Net Lease during the 3rd quarter worth approximately $107,000. Finally, Verition Fund Management LLC raised its holdings in shares of Global Net Lease by 224.0% in the third quarter. Verition Fund Management LLC now owns 64,670 shares of the financial services provider's stock valued at $545,000 after purchasing an additional 44,709 shares during the last quarter. 61.19% of the stock is currently owned by institutional investors and hedge funds.

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.