Nicholas S. Schorsch Purchases 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 dated Monday, November 11th. The stock was purchased at an average cost of $7.72 per share, for a total transaction of $772,000.00. Following the completion of the purchase, the insider now directly owns 1,829,073 shares of the company’s stock, valued at approximately $14,120,443.56. The trade was a 5.78 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Global Net Lease Price Performance

Shares of NYSE GNL opened at $7.28 on Friday. The stock’s 50-day moving average is $8.30 and its two-hundred day moving average is $7.99. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.06 and a quick ratio of 0.06. Global Net Lease, Inc. has a 1-year low of $6.52 and a 1-year high of $10.19. The company has a market cap of $1.68 billion, a price-to-earnings ratio of -7.74, a price-to-earnings-growth ratio of 0.98 and a beta of 1.38.

Global Net Lease (NYSE:GNL) last released its quarterly earnings data on Wednesday, November 6th. The financial services provider reported ($0.33) earnings per share (EPS) for the quarter, missing the consensus estimate 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 period in the prior year, the company posted $0.36 earnings per share. Analysts forecast that Global Net Lease, Inc. will post 1.27 EPS for the current fiscal year.

Global Net Lease Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 16th. Stockholders of record on Friday, October 11th were given a dividend of $0.275 per share. The ex-dividend date was Friday, October 11th. This represents a $1.10 annualized dividend and a dividend yield of 15.12%. Global Net Lease’s dividend payout ratio is currently -117.02%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. B. Riley lowered their price objective on Global Net Lease from $11.00 to $10.00 and set a “buy” rating on the stock in a research note on Monday, August 12th. StockNews.com raised Global Net Lease from a “sell” rating to a “hold” rating in a research note on Thursday, August 8th. Finally, Truist Financial lifted their target price on Global Net Lease from $8.00 to $8.50 and gave the company a “hold” rating in a research report on Wednesday, August 21st. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Global Net Lease has a consensus rating of “Hold” and a consensus price target of $9.83.

Institutional Trading of Global Net Lease

A number of large investors have recently made changes to their positions in the company. Sunbelt Securities Inc. boosted its position in shares of Global Net Lease by 10.3% in the 2nd quarter. Sunbelt Securities Inc. now owns 14,449 shares of the financial services provider’s stock valued at $106,000 after purchasing an additional 1,351 shares during the period. Louisiana State Employees Retirement System boosted its position in shares of Global Net Lease by 1.7% in the 2nd quarter. Louisiana State Employees Retirement System now owns 98,300 shares of the financial services provider’s stock valued at $723,000 after purchasing an additional 1,600 shares during the period. Texas Permanent School Fund Corp boosted its position in shares of Global Net Lease by 1.0% in the 1st quarter. Texas Permanent School Fund Corp now owns 170,328 shares of the financial services provider’s stock valued at $1,323,000 after purchasing an additional 1,689 shares during the period. Arkadios Wealth Advisors boosted its position in shares of Global Net Lease by 3.2% in the 2nd quarter. Arkadios Wealth Advisors now owns 58,017 shares of the financial services provider’s stock valued at $426,000 after purchasing an additional 1,789 shares during the period. Finally, Cobblestone Asset Management LLC boosted its position in shares of Global Net Lease by 4.2% in the 3rd quarter. Cobblestone Asset Management LLC now owns 44,537 shares of the financial services provider’s stock valued at $375,000 after purchasing an additional 1,804 shares during the period. 61.19% of the stock is 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.