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

Shares of Global Net Lease, Inc. (NYSE:GNL) have received a consensus rating of “Hold” from the five ratings firms that are currently covering the stock, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $9.83.

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

Global Net Lease Stock Performance

NYSE GNL opened at $8.57 on Thursday. The stock has a market capitalization of $1.97 billion, a price-to-earnings ratio of -4.71, a PEG ratio of 1.15 and a beta of 1.37. The stock has a 50-day moving average of $8.50 and a 200 day moving average of $7.84. 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 twelve month low of $6.52 and a twelve month high of $10.19.

Global Net Lease (NYSE:GNL) last announced its 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 for the quarter, compared to analyst estimates of $204.80 million. During the same period in the previous year, the company earned $0.40 earnings per share. Sell-side analysts anticipate that Global Net Lease will post 1.27 EPS for the current fiscal year.

Global Net Lease Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 16th. Stockholders of record on Friday, October 11th will be issued a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 12.84%. The ex-dividend date is Friday, October 11th. Global Net Lease’s dividend payout ratio is currently -60.44%.

Insider Activity at Global Net Lease

In related news, major shareholder Nicholas S. Schorsch acquired 100,000 shares of the stock in a transaction on Wednesday, October 2nd. The shares were bought at an average price of $8.40 per share, with a total value of $840,000.00. Following the completion of the purchase, the insider now owns 1,729,073 shares of the company’s stock, valued at approximately $14,524,213.20. This represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.31% of the company’s stock.

Institutional Trading of Global Net Lease

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Scarborough Advisors LLC acquired a new position in Global Net Lease in the fourth quarter valued at approximately $25,000. Vanguard Group Inc. grew its holdings in shares of 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. Newbridge Financial Services Group Inc. increased its position 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 worth $1,828,000 after purchasing an additional 68,246 shares during the last quarter. BTC Capital Management Inc. purchased a new stake in Global Net Lease in the 1st quarter valued at about $302,000. Finally, Sound Income Strategies LLC lifted its position in Global Net Lease by 17.9% in the first quarter. Sound Income Strategies LLC now owns 1,022,526 shares of the financial services provider’s stock valued at $7,945,000 after buying an additional 155,377 shares during the last quarter. 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.