Global Net Lease, Inc. (NYSE:GNL) Receives Average Recommendation of “Hold” from Analysts

Shares of Global Net Lease, Inc. (NYSE:GNL) have been given an average recommendation of “Hold” by the five brokerages that are currently covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $9.67.

A number of research firms have recently commented on GNL. B. Riley cut their target price 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 upgraded shares of Global Net Lease from a “sell” rating to a “hold” rating in a research note on Thursday, August 8th. Finally, Truist Financial lowered their target price on shares of Global Net Lease from $8.50 to $8.00 and set a “hold” rating for the company in a research note on Friday.

Global Net Lease Stock Performance

Shares of NYSE:GNL traded down $0.11 during trading on Friday, hitting $7.41. The company’s stock had a trading volume of 869,253 shares, compared to its average volume of 1,465,603. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.06 and a quick ratio of 0.06. The firm has a market cap of $1.71 billion, a price-to-earnings ratio of -7.88, a P/E/G ratio of 0.99 and a beta of 1.38. Global Net Lease has a 12 month low of $6.52 and a 12 month high of $10.19. The company has a 50-day moving average of $8.02 and a 200-day moving average of $8.01.

Global Net Lease (NYSE:GNL) last issued its earnings results 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). Global Net Lease had a negative net margin of 21.37% and a negative return on equity of 7.04%. The business had revenue of $196.56 million for the quarter, compared to the consensus estimate of $198.76 million. During the same period last year, the business posted $0.36 EPS. On average, sell-side analysts expect that Global Net Lease will post 1.27 earnings per share for the current year.

Global Net Lease Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 16th. Investors of record on Friday, October 11th were given a $0.275 dividend. The ex-dividend date was Friday, October 11th. This represents a $1.10 dividend on an annualized basis and a yield of 14.84%. Global Net Lease’s dividend payout ratio (DPR) is presently -117.02%.

Insider Activity

In related news, major shareholder Nicholas S. Schorsch bought 100,000 shares of Global Net Lease stock in a transaction that occurred on Monday, November 11th. The shares were purchased at an average price of $7.72 per share, with a total value of $772,000.00. Following the purchase, the insider now owns 1,829,073 shares in the company, valued at $14,120,443.56. This represents a 5.78 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.31% of the company’s stock.

Hedge Funds Weigh In On Global Net Lease

Several institutional investors have recently added to or reduced their stakes in GNL. Geode Capital Management LLC grew its stake in shares of Global Net Lease by 1.9% in the third quarter. Geode Capital Management LLC now owns 5,093,659 shares of the financial services provider’s stock valued at $42,897,000 after buying an additional 95,769 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Global Net Lease by 4.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,058,850 shares of the financial services provider’s stock worth $34,176,000 after acquiring an additional 166,247 shares during the period. Bank of Montreal Can grew its holdings in Global Net Lease by 12,401.0% during the second quarter. Bank of Montreal Can now owns 3,118,873 shares of the financial services provider’s stock worth $22,986,000 after acquiring an additional 3,093,924 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Global Net Lease by 0.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,607,268 shares of the financial services provider’s stock valued at $11,813,000 after acquiring an additional 6,715 shares in the last quarter. Finally, Advisors Asset Management Inc. lifted its position in Global Net Lease by 12.2% in the 3rd quarter. Advisors Asset Management Inc. now owns 1,109,842 shares of the financial services provider’s stock worth $9,345,000 after buying an additional 120,610 shares in the last quarter. 61.19% of the stock is currently 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.