Insider Selling: Global Net Lease, Inc. (NYSE:GNL) Major Shareholder Sells 200,000 Shares of Stock

Global Net Lease, Inc. (NYSE:GNL) major shareholder Nicholas S. Schorsch sold 200,000 shares of Global Net Lease stock in a transaction dated Thursday, April 3rd. The shares were sold at an average price of $7.95, for a total transaction of $1,590,000.00. Following the completion of the sale, the insider now directly owns 1,629,073 shares in the company, valued at approximately $12,951,130.35. The trade was a 10.93 % decrease in their position. The sale 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 stock are required to disclose their transactions with the SEC.

Global Net Lease Price Performance

GNL stock opened at $7.53 on Friday. The company has a market cap of $1.74 billion, a price-to-earnings ratio of -8.01 and a beta of 1.18. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 0.70. The firm has a 50 day moving average of $7.61 and a 200-day moving average of $7.67. Global Net Lease, Inc. has a 12-month low of $6.52 and a 12-month high of $9.11.

Global Net Lease Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 16th. Shareholders of record on Friday, April 11th will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Friday, April 11th. This represents a $0.76 dividend on an annualized basis and a yield of 10.10%. Global Net Lease’s payout ratio is -144.74%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. JMP Securities raised Global Net Lease from a “market perform” rating to an “outperform” rating and set a $9.00 price objective on the stock in a report on Tuesday, December 17th. Citizens Jmp raised Global Net Lease from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 17th. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $9.50.

Institutional Trading of Global Net Lease

Large investors have recently bought and sold shares of the company. Cerity Partners LLC grew its stake in Global Net Lease by 114.8% in the 3rd quarter. Cerity Partners LLC now owns 50,435 shares of the financial services provider’s stock valued at $425,000 after acquiring an additional 26,959 shares during the last quarter. FMR LLC grew its position in shares of Global Net Lease by 11.2% in the third quarter. FMR LLC now owns 36,370 shares of the financial services provider’s stock valued at $306,000 after purchasing an additional 3,675 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of 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 purchasing an additional 835,830 shares during the last quarter. Walleye Capital LLC acquired a new position in shares of Global Net Lease during the 3rd quarter worth approximately $107,000. Finally, Verition Fund Management LLC lifted its stake in Global Net Lease by 224.0% in the 3rd quarter. Verition Fund Management LLC now owns 64,670 shares of the financial services provider’s stock valued at $545,000 after buying an additional 44,709 shares in the last quarter. Institutional investors and hedge funds own 61.19% of the company’s stock.

About Global Net Lease

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.