Global Net Lease, Inc. (NYSE:GNL) Given Consensus Rating of “Hold” by Brokerages

Shares of Global Net Lease, Inc. (NYSE:GNL) have received an average rating of “Hold” from the five research firms that are presently covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $9.83.

GNL has been the subject of several research analyst reports. StockNews.com upgraded Global Net Lease from a “sell” rating to a “hold” rating in a research report on Thursday, August 8th. BMO Capital Markets reaffirmed an “outperform” rating and set a $11.00 price objective on shares of Global Net Lease in a report on Friday, June 28th. JMP Securities reiterated a “market perform” rating on shares of Global Net Lease in a research report on Wednesday, June 12th. B. Riley lowered their target price on shares of Global Net Lease from $11.00 to $10.00 and set a “buy” rating on the stock in a report on Monday, August 12th. Finally, Truist Financial raised their target price on shares of Global Net Lease from $8.00 to $8.50 and gave the company a “hold” rating in a research note on Wednesday, August 21st.

Global Net Lease Trading Down 0.7 %

Shares of GNL stock opened at $8.80 on Friday. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.72. Global Net Lease has a 12-month low of $6.52 and a 12-month high of $11.05. The stock has a market capitalization of $2.03 billion, a P/E ratio of -4.84, a P/E/G ratio of 1.13 and a beta of 1.38. The firm’s 50 day moving average is $8.51 and its 200 day moving average is $7.74.

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 for the quarter, missing the consensus estimate of $0.32 by ($0.52). Global Net Lease had a negative return on equity of 9.41% and a negative net margin of 33.26%. The business had revenue of $203.29 million during the quarter, compared to the consensus estimate of $204.80 million. During the same quarter in the previous year, the business posted $0.40 earnings per share. Research analysts expect that Global Net Lease will post 1.27 earnings per share for the current year.

Global Net Lease Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 16th. Shareholders of record on Thursday, July 11th were paid a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 12.50%. The ex-dividend date of this dividend was Thursday, July 11th. 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%.

Insiders Place Their Bets

In other news, major shareholder Nicholas S. Schorsch sold 100,000 shares of the firm’s stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $7.02, for a total value of $702,000.00. Following the sale, the insider now directly owns 1,829,073 shares in the company, valued at approximately $12,840,092.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Global Net Lease news, major shareholder Nicholas S. Schorsch sold 100,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $7.02, for a total transaction of $702,000.00. Following the transaction, the insider now owns 1,829,073 shares in the company, valued at approximately $12,840,092.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Nicholas S. Schorsch sold 150,000 shares of the company’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $7.19, for a total value of $1,078,500.00. Following the completion of the transaction, the insider now directly owns 2,079,073 shares in the company, valued at $14,948,534.87. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Global Net Lease

A number of hedge funds and other institutional investors have recently made changes to their positions in GNL. Scarborough Advisors LLC acquired a new stake in Global Net Lease in the fourth quarter valued at approximately $25,000. Verus Capital Partners LLC purchased a new position in shares of Global Net Lease during the 2nd quarter valued at approximately $74,000. Atomi Financial Group Inc. acquired a new stake in Global Net Lease in the 1st quarter valued at $81,000. Principal Securities Inc. purchased a new stake in Global Net Lease in the 4th quarter worth $86,000. Finally, Signaturefd LLC raised its position in Global Net Lease by 176.8% during the second quarter. Signaturefd LLC now owns 12,410 shares of the financial services provider’s stock worth $91,000 after acquiring an additional 7,927 shares during the period. Institutional investors and hedge funds own 61.19% of the company’s stock.

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.