In a recent transaction, Nicholas S. Schorsch, associated with Bellevue Capital Partners, LLC, the largest shareholder of Global Net Lease , Inc. (NYSE:), sold a significant amount of stock in the company. The transactions, which took place between June 18 and June 21, included the sale of 892,71 shares at $7.32, 433,350 shares at $7.19, and 450,000 shares at $7.08. The total amount of shares traded was approximately $6,955,250.
The sale was made in multiple transactions at prices ranging from $7.08 to $7.32 per share. According to the footnotes provided in the SEC filing, these sales were made for tax planning purposes, and the reported prices were approximate estimated prices. Bellevue Capital Partners, LLC, directly held the shares sold.
After the sale, the reporting entities still hold a large number of shares in Global Net Lease, Inc. The exact number of shares held after transactions are not disclosed in the summary report. However, it is clear that organizations associated with Mr. Schorsch retains a significant interest in the company.
Investors and the market often keep a close eye on insider trading as it can provide information about a company’s financial health and future prospects. A sale of shares by a major shareholder such as Bellevue Capital Partners, LLC, and its subsidiaries, would be of great interest to current and potential shareholders.
Global Net Lease, Inc., with its significant presence in the real estate investment trust industry, continues to be a notable business on the New York Stock Exchange. Company performance and internal transactions such as these are closely monitored to identify indicators of company direction and alignment of interests between shareholders and management.
In other recent news, the Global Net Lease (GNL) has been the subject of recent developments. B.Riley revised its outlook on GNL, lowering the price target from $12.50 to $11.00, while maintaining a buy rating. This adjustment is due to a slight decrease in Adjusted Funds From Operations (AFFO) per share for fiscal year 2024 and revisions to Expected Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA).
In addition, GNL reported growth in AFFO per share and operating leases for Q1 2024, despite a net loss. The company’s divestment plan is well underway, with $554 million remaining. GNL also completed a significant $237 billion commercial mortgage-backed (CMBS) financing, lowering interest costs and extending debt maturities.
In addition, B.Riley expects that approximately 70% of planned asset sales will be completed in the second half of 2024. This sale is part of GNL’s strategy to reduce the company’s leverage, which aims to reduce the ratio of total debt to EBITDA from. current 8.4 times in the target range of 7.4 to 7.8 times by the end of 2024. This is in line with GNL’s focus on reducing net debt and improving Net operating income (NOI), as outlined in their 2024 financial guidance.
InvestingPro Insights
Due to recent internal operations at Global Net Lease, Inc. (NYSE:GNL), current and potential investors can get more context with InvestingPro Insights. Despite the sale of shares by a major shareholder, InvestingPro Tips suggests that analysts expect sales growth in the current year for GNL, which may reflect the underlying strength of the business. Additionally, the company is known to pay dividends to shareholders, with a notable dividend yield of 15.45 %.
InvestingPro Data also revealed a revenue growth of 66.67% over the past twelve months from Q1 2024, with an impressive quarterly revenue growth of 118.43% in Q1 2024. However, the company did not make a profit during the same period, it was shown. with negative EPS figures and a negative P/E ratio of -4.53. The forward PEG ratio stands at 0.01, indicating potential downside if the company’s growth expectations materialize.
For those interested in a deeper dive into the financials and forecasts of Global Net Lease, Inc., InvestingPro offers additional tips and metrics that can provide valuable insight into the company’s calculations and performance. Access these exclusive details and consider using the coupon code PRONEWS24 for an additional 10% discount on Pro and Pro+ annual or bi-annual subscriptions. There are 5 more InvestingPro tips available, which can further inform your investment decisions.
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