Insider Selling: Global Net Lease, Inc. (NYSE:GNL) Insider Sells 7,103,000 Shares of Stock

Global Net Lease, Inc. (NYSE:GNL) insider Nicholas S. Schorsch sold 7,103,000 shares of the stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $7.43, for a total transaction of $52,775,290.00. Following the sale, the insider now owns 19,907,384 shares in the company, valued at approximately $147,911,863.12. This trade represents a 26.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Global Net Lease Price Performance

Shares of NYSE:GNL opened at $7.37 on Monday. The firm’s 50 day moving average is $7.60 and its two-hundred day moving average is $7.49. Global Net Lease, Inc. has a 52 week low of $6.51 and a 52 week high of $9.11. The firm has a market capitalization of $1.69 billion, a P/E 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 (NYSE:GNL) last announced its quarterly earnings results on Wednesday, May 7th. The financial services provider reported $0.29 EPS for the quarter, beating the consensus estimate of $0.23 by $0.06. Global Net Lease had a negative net margin of 21.37% and a negative return on equity of 7.04%. The company had revenue of $132.42 million for the quarter, compared to analyst estimates of $187.40 million. Analysts anticipate that Global Net Lease, Inc. will post 1.26 earnings per share for the current year.

Global Net Lease Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 16th. Investors of record on Friday, April 11th were paid a dividend of $0.19 per share. The ex-dividend date of this dividend 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 dividend payout ratio is presently -51.35%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Strs Ohio acquired a new position in shares of Global Net Lease during the first quarter valued at approximately $302,000. Intech Investment Management LLC increased its stake in shares of Global Net Lease by 15.8% during the first quarter. Intech Investment Management LLC now owns 156,334 shares of the financial services provider’s stock valued at $1,257,000 after acquiring an additional 21,372 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Global Net Lease by 10.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,109,971 shares of the financial services provider’s stock valued at $8,924,000 after acquiring an additional 102,173 shares during the period. United Services Automobile Association acquired a new position in shares of Global Net Lease during the first quarter valued at approximately $94,000. Finally, Arete Wealth Advisors LLC increased its stake in shares of Global Net Lease by 24.4% during the first quarter. Arete Wealth Advisors LLC now owns 336,680 shares of the financial services provider’s stock valued at $2,707,000 after acquiring an additional 65,969 shares during the period. Institutional investors and hedge funds own 61.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on GNL shares. B. Riley started coverage on shares of Global Net Lease in a research note on Tuesday, April 22nd. They set a “neutral” rating and a $8.00 price objective on the stock. JMP Securities reiterated a “market outperform” rating and set a $9.00 price objective on shares of Global Net Lease in a research note on Thursday. Three research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $9.00.

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.