Global Net Lease, Inc. (NYSE:GNL - Get Free Report) insider Nicholas S. Schorsch sold 7,103,000 shares of the business's stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $7.43, for a total transaction of $52,775,290.00. Following the completion of the transaction, the insider now owns 19,907,384 shares of the company's stock, valued at $147,911,863.12. The trade was a 26.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.
Global Net Lease Price Performance
NYSE GNL traded down $0.13 during trading on Friday, hitting $7.37. 2,654,976 shares of the company's stock were exchanged, compared to its average volume of 1,562,045. The company has a market cap of $1.69 billion, a PE ratio of -7.84 and a beta of 1.22. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 0.70. Global Net Lease, Inc. has a fifty-two week low of $6.51 and a fifty-two week high of $9.11. The stock's 50 day moving average price is $7.60 and its two-hundred day moving average price is $7.49.
Global Net Lease (NYSE:GNL - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The financial services provider reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.06. The company had revenue of $132.42 million for the quarter, compared to analyst estimates of $187.40 million. Global Net Lease had a negative net margin of 21.37% and a negative return on equity of 7.04%. Research analysts expect that Global Net Lease, Inc. will post 1.26 EPS for the current year.
Global Net Lease Cuts Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, April 16th. Shareholders of record on Friday, April 11th were paid a dividend of $0.19 per share. The ex-dividend date was Friday, April 11th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 10.31%. Global Net Lease's payout ratio is presently -51.35%.
Analysts Set New Price Targets
GNL has been the topic of a number of recent analyst reports. B. Riley started coverage on shares of Global Net Lease in a research note on Tuesday, April 22nd. They issued a "neutral" rating and a $8.00 price objective on the stock. JMP Securities restated a "market outperform" rating and set a $9.00 target price on shares of Global Net Lease in a research note on Thursday. Three analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Global Net Lease currently has an average rating of "Moderate Buy" and an average target price of $9.00.
Get Our Latest Stock Report on Global Net Lease
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of the stock. Northern Trust Corp boosted its holdings in shares of Global Net Lease by 26.3% during the 4th quarter. Northern Trust Corp now owns 2,612,357 shares of the financial services provider's stock valued at $19,070,000 after acquiring an additional 544,719 shares in the last quarter. US Bancorp DE increased its holdings in Global Net Lease by 363.2% in the 4th quarter. US Bancorp DE now owns 6,072 shares of the financial services provider's stock worth $44,000 after purchasing an additional 4,761 shares in the last quarter. Swiss National Bank raised its position in Global Net Lease by 0.8% in the fourth quarter. Swiss National Bank now owns 385,257 shares of the financial services provider's stock valued at $2,812,000 after purchasing an additional 3,100 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of Global Net Lease by 3.0% during the fourth quarter. Principal Financial Group Inc. now owns 960,682 shares of the financial services provider's stock valued at $7,013,000 after purchasing an additional 27,564 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Global Net Lease by 2.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,171,758 shares of the financial services provider's stock valued at $30,454,000 after purchasing an additional 112,908 shares in the last quarter. 61.19% of the stock is currently owned by institutional investors and hedge funds.
About Global Net Lease
(
Get Free Report)
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.
Further Reading
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