Global Net Lease, Inc. (NYSE:GNL) Shares Bought by Sound Income Strategies LLC

Sound Income Strategies LLC boosted its stake in shares of Global Net Lease, Inc. (NYSE:GNL) by 17.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,022,526 shares of the financial services provider’s stock after purchasing an additional 155,377 shares during the period. Sound Income Strategies LLC owned approximately 0.44% of Global Net Lease worth $7,945,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in GNL. BTC Capital Management Inc. acquired a new position in Global Net Lease during the first quarter valued at approximately $302,000. Newbridge Financial Services Group Inc. lifted its holdings in shares of Global Net Lease by 59.1% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 183,722 shares of the financial services provider’s stock valued at $1,828,000 after acquiring an additional 68,246 shares in the last quarter. Vanguard Group Inc. boosted its position in Global Net Lease by 10.3% during the 4th quarter. Vanguard Group Inc. now owns 33,932,387 shares of the financial services provider’s stock worth $337,627,000 after purchasing an additional 3,162,310 shares during the period. Scarborough Advisors LLC acquired a new stake in Global Net Lease in the 4th quarter valued at $25,000. Finally, CastleKnight Management LP raised its position in Global Net Lease by 59.2% in the fourth quarter. CastleKnight Management LP now owns 1,164,081 shares of the financial services provider’s stock valued at $11,583,000 after purchasing an additional 432,729 shares during the period. Institutional investors and hedge funds own 61.19% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on GNL shares. BTIG Research lowered Global Net Lease from a “buy” rating to a “neutral” rating in a research note on Friday, March 8th. JMP Securities reissued a “market perform” rating on shares of Global Net Lease in a research report on Wednesday, June 12th. Finally, Truist Financial began coverage on shares of Global Net Lease in a report on Thursday, March 28th. They set a “hold” rating and a $7.00 price target for the company. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, Global Net Lease has an average rating of “Hold” and an average price target of $11.00.

Insider Activity at Global Net Lease

In other news, major shareholder Nicholas S. Schorsch sold 200,000 shares of the stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $7.16, for a total transaction of $1,432,000.00. Following the transaction, the insider now owns 3,201,694 shares of the company’s stock, valued at $22,924,129.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, major shareholder Nicholas S. Schorsch sold 159,720 shares of Global Net Lease stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $7.32, for a total value of $1,169,150.40. Following the completion of the transaction, the insider now directly owns 3,546,752 shares of the company’s stock, valued at approximately $25,962,224.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Nicholas S. Schorsch sold 200,000 shares of the stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $7.16, for a total transaction of $1,432,000.00. Following the sale, the insider now owns 3,201,694 shares in the company, valued at approximately $22,924,129.04. The disclosure for this sale can be found here. Insiders have sold 793,070 shares of company stock valued at $5,716,937 over the last ninety days. Corporate insiders own 0.31% of the company’s stock.

Global Net Lease Price Performance

GNL stock traded down $0.04 during midday trading on Wednesday, hitting $7.03. 1,168,158 shares of the company’s stock were exchanged, compared to its average volume of 1,530,031. The firm has a 50 day moving average price of $7.27 and a 200-day moving average price of $7.95. Global Net Lease, Inc. has a 12-month low of $6.52 and a 12-month high of $11.58. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.05 and a quick ratio of 0.05.

Global Net Lease Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 16th. Investors of record on Thursday, April 11th were paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 15.66%. The ex-dividend date of this dividend was Wednesday, April 10th. This is a positive change from Global Net Lease’s previous quarterly dividend of $0.06. Global Net Lease’s payout ratio is -60.44%.

Global Net Lease Profile

Global Net Lease, Inc (NYSE: GNL) is a publicly traded real estate investment trust listed on the NYSE 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.