Insider Buying: Global Net Lease, Inc. (NYSE:GNL) Major Shareholder Purchases 100,000 Shares of Stock

Global Net Lease, Inc. (NYSE:GNL) major shareholder Nicholas S. Schorsch bought 100,000 shares of Global Net Lease stock in a transaction that occurred on Wednesday, October 2nd. The stock was purchased at an average cost of $8.40 per share, with a total value of $840,000.00. Following the completion of the transaction, the insider now owns 1,729,073 shares of the company’s stock, valued at $14,524,213.20. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Global Net Lease Stock Performance

Global Net Lease stock opened at $8.37 on Friday. The stock has a 50-day simple moving average of $8.52 and a 200 day simple moving average of $7.83. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.72. Global Net Lease, Inc. has a 12-month low of $6.52 and a 12-month high of $10.19. The stock has a market capitalization of $1.93 billion, a price-to-earnings ratio of -4.60, a P/E/G ratio of 1.15 and a beta of 1.37.

Global Net Lease (NYSE:GNL) last released its quarterly earnings results on Tuesday, August 6th. The financial services provider reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.52). Global Net Lease had a negative net margin of 33.26% and a negative return on equity of 9.41%. The business had revenue of $203.29 million during the quarter, compared to the consensus estimate of $204.80 million. During the same period in the prior year, the firm earned $0.40 earnings per share. On average, research analysts anticipate that Global Net Lease, Inc. will post 1.27 earnings per share for the current fiscal year.

Global Net Lease Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 16th. Investors of record on Friday, October 11th will be issued a $0.275 dividend. The ex-dividend date is Friday, October 11th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 13.14%. Global Net Lease’s dividend payout ratio is -60.44%.

Analysts Set New Price Targets

A number of research analysts have issued reports on GNL shares. StockNews.com raised Global Net Lease from a “sell” rating to a “hold” rating in a report on Thursday, August 8th. JMP Securities reissued a “market perform” rating on shares of Global Net Lease in a report on Wednesday, June 12th. B. Riley cut their price objective on Global Net Lease from $11.00 to $10.00 and set a “buy” rating for the company in a report on Monday, August 12th. Truist Financial lifted their price objective on Global Net Lease from $8.00 to $8.50 and gave the company a “hold” rating in a report on Wednesday, August 21st. Finally, BMO Capital Markets reissued an “outperform” rating and set a $11.00 price objective on shares of Global Net Lease in a report on Friday, June 28th. 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 a consensus price target of $9.83.

Institutional Trading of Global Net Lease

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GNL. Norges Bank acquired a new stake in Global Net Lease in the fourth quarter worth about $9,378,000. CastleKnight Management LP increased 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 worth $11,583,000 after purchasing an additional 432,729 shares during the period. Scarborough Advisors LLC acquired a new stake in Global Net Lease in the fourth quarter worth about $25,000. Vanguard Group Inc. increased its position in Global Net Lease by 10.3% in the fourth 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. Finally, Newbridge Financial Services Group Inc. increased its position in Global Net Lease by 59.1% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 183,722 shares of the financial services provider’s stock worth $1,828,000 after purchasing an additional 68,246 shares during the period. 61.19% of the stock is currently owned by institutional investors and hedge funds.

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.