Nicholas S. Schorsch Acquires 100,000 Shares of Global Net Lease, Inc. (NYSE:GNL) Stock

Global Net Lease, Inc. (NYSE:GNL) major shareholder Nicholas S. Schorsch purchased 100,000 shares of the stock in a transaction on Monday, November 11th. The shares were acquired at an average cost of $7.72 per share, for a total transaction of $772,000.00. Following the transaction, the insider now owns 1,829,073 shares of the company’s stock, valued at approximately $14,120,443.56. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Global Net Lease Trading Up 0.4 %

GNL stock opened at $7.48 on Thursday. Global Net Lease, Inc. has a 52 week low of $6.52 and a 52 week high of $10.19. The company has a market capitalization of $1.73 billion, a PE ratio of -7.96, a price-to-earnings-growth ratio of 0.98 and a beta of 1.38. The company’s 50-day simple moving average is $8.33 and its 200 day simple moving average is $8.00. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.06 and a current ratio of 0.06.

Global Net Lease (NYSE:GNL) last announced its earnings results on Wednesday, November 6th. The financial services provider reported ($0.33) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.65). The business had revenue of $196.56 million for the quarter, compared to analyst estimates of $198.76 million. Global Net Lease had a negative return on equity of 7.04% and a negative net margin of 21.37%. During the same quarter in the previous year, the company earned $0.36 EPS. As a group, sell-side analysts anticipate that Global Net Lease, Inc. will post 1.27 earnings per share for the current year.

Global Net Lease Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 16th. Shareholders of record on Friday, October 11th were issued a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 14.71%. The ex-dividend date was Friday, October 11th. Global Net Lease’s dividend payout ratio is currently -117.02%.

Institutional Trading of Global Net Lease

A number of institutional investors and hedge funds have recently made changes to their positions in the company. BNP Paribas Financial Markets increased its stake in Global Net Lease by 58.7% in the first quarter. BNP Paribas Financial Markets now owns 103,420 shares of the financial services provider’s stock valued at $804,000 after acquiring an additional 38,252 shares during the last quarter. Janney Montgomery Scott LLC increased its stake in shares of Global Net Lease by 28.9% in the 1st quarter. Janney Montgomery Scott LLC now owns 123,528 shares of the financial services provider’s stock valued at $960,000 after purchasing an additional 27,723 shares during the last quarter. Texas Permanent School Fund Corp raised its holdings in shares of Global Net Lease by 1.0% during the 1st quarter. Texas Permanent School Fund Corp now owns 170,328 shares of the financial services provider’s stock worth $1,323,000 after buying an additional 1,689 shares in the last quarter. Illinois Municipal Retirement Fund lifted its position in shares of Global Net Lease by 5.5% during the 1st quarter. Illinois Municipal Retirement Fund now owns 113,714 shares of the financial services provider’s stock worth $884,000 after buying an additional 5,970 shares during the last quarter. Finally, Atomi Financial Group Inc. acquired a new stake in Global Net Lease in the first quarter valued at about $81,000. Institutional investors own 61.19% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on GNL. B. Riley decreased their target price on Global Net Lease from $11.00 to $10.00 and set a “buy” rating on the stock in a report on Monday, August 12th. StockNews.com upgraded shares of Global Net Lease from a “sell” rating to a “hold” rating in a report on Thursday, August 8th. Finally, Truist Financial raised their target price on shares of Global Net Lease from $8.00 to $8.50 and gave the stock a “hold” rating in a research note on Wednesday, August 21st. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $9.83.

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.