Global Net Lease, Inc. (NYSE:GNL) Shares Sold by Vestcor Inc

Key Points

• Vestcor Inc reduced its stake in Global Net Lease by 39.1%, selling 69,799 shares and now owning 108,709 shares worth approximately $874,000.
• Insider Nicholas S. Schorsch sold 7,103,000 shares for $52.78 million, representing a 26.3% decrease in his position, while CEO Edward M. Jr. Weil sold 150,000 shares.
• Global Net Lease declared a quarterly dividend of **$0.19 per share**, with an annualized yield of **11.0%**, despite a negative payout ratio of -51.35%.

Vestcor Inc reduced its holdings in shares of Global Net Lease, Inc. (NYSE:GNL - Free Report) by 39.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 108,709 shares of the financial services provider's stock after selling 69,799 shares during the period. Vestcor Inc's holdings in Global Net Lease were worth $874,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. CoreCap Advisors LLC bought a new stake in Global Net Lease in the fourth quarter valued at $25,000. Ameriflex Group Inc. bought a new stake in shares of Global Net Lease in the fourth quarter worth $25,000. GF Fund Management CO. LTD. purchased a new position in Global Net Lease during the fourth quarter valued at $26,000. Coldstream Capital Management Inc. purchased a new position in Global Net Lease during the fourth quarter valued at $73,000. Finally, Atlas Private Wealth Advisors purchased a new position in shares of Global Net Lease in the first quarter valued at about $85,000. Institutional investors own 61.19% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on GNL shares. JMP Securities reaffirmed a "market outperform" rating and issued a $9.00 price objective on shares of Global Net Lease in a research note on Thursday, June 12th. B. Riley assumed coverage on Global Net Lease in a report on Tuesday, April 22nd. They issued a "neutral" rating and a $8.00 price target on the stock. Three research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $8.33.

Insider Transactions at Global Net Lease

In related news, insider Nicholas S. Schorsch sold 7,103,000 shares of Global Net Lease stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $7.43, for a total value of $52,775,290.00. Following the completion of the transaction, the insider owned 19,907,384 shares in the company, valued at $147,911,863.12. The trade was a 26.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Edward M. Jr. Weil sold 150,000 shares of Global Net Lease stock in a transaction dated Thursday, July 10th. The stock was sold at an average price of $7.61, for a total value of $1,141,500.00. Following the completion of the sale, the chief executive officer owned 584,053 shares in the company, valued at approximately $4,444,643.33. The trade was a 20.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 7,653,000 shares of company stock valued at $56,914,790 in the last quarter. Company insiders own 0.37% of the company's stock.

Global Net Lease Stock Up 7.8%

NYSE GNL traded up $0.54 during midday trading on Thursday, hitting $7.39. 2,386,587 shares of the company traded hands, compared to its average volume of 1,785,913. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.11 and a quick ratio of 0.11. The company has a market cap of $1.69 billion, a PE ratio of -4.99 and a beta of 1.20. The company's 50-day simple moving average is $7.40 and its 200-day simple moving average is $7.51. Global Net Lease, Inc. has a 52 week low of $6.51 and a 52 week high of $9.10.

Global Net Lease (NYSE:GNL - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The financial services provider reported $0.29 earnings per share for the quarter, topping analysts' consensus estimates of $0.23 by $0.06. The firm had revenue of $132.42 million during the quarter, compared to analysts' expectations of $187.40 million. Global Net Lease had a negative return on equity of 9.23% and a negative net margin of 40.64%. As a group, equities research analysts forecast that Global Net Lease, Inc. will post 1.26 earnings per share for the current year.

Global Net Lease Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 16th. Shareholders of record on Friday, July 11th were paid a dividend of $0.19 per share. The ex-dividend date was Friday, July 11th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 10.3%. Global Net Lease's dividend payout ratio (DPR) is presently -51.35%.

Global Net Lease 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.