Truist Financial Cuts Global Net Lease (NYSE:GNL) Price Target to $8.00

Global Net Lease (NYSE:GNL) had its price objective decreased by Truist Financial from $8.50 to $8.00 in a research note released on Friday,Benzinga reports. Truist Financial currently has a hold rating on the financial services provider’s stock.

GNL has been the topic of several other research reports. B. Riley dropped 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. StockNews.com raised Global Net Lease from a “sell” rating to a “hold” rating in a research report on Thursday, August 8th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $9.67.

Global Net Lease Trading Down 1.5 %

Global Net Lease stock opened at $7.41 on Friday. Global Net Lease has a one year low of $6.52 and a one year high of $10.19. The company’s fifty day moving average price is $8.00 and its two-hundred day moving average price is $8.01. The company has a market capitalization of $1.71 billion, a price-to-earnings ratio of -7.88, a PEG ratio of 0.97 and a beta of 1.38. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.06 and a quick ratio of 0.06.

Global Net Lease (NYSE:GNL) last issued its quarterly earnings data on Wednesday, November 6th. The financial services provider reported ($0.33) earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $196.56 million during the quarter, compared to the consensus estimate of $198.76 million. During the same period in the previous year, the business posted $0.36 earnings per share. On average, analysts forecast that Global Net Lease will post 1.27 earnings per share for the current fiscal year.

Global Net Lease Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 16th. Stockholders of record on Friday, October 11th were given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 14.84%. The ex-dividend date of this dividend was Friday, October 11th. Global Net Lease’s dividend payout ratio is currently -117.02%.

Insider Buying and Selling

In other 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 stock was purchased at an average cost of $7.72 per share, with a total value of $772,000.00. Following the completion of the transaction, the insider now directly owns 1,829,073 shares in the company, valued at $14,120,443.56. This trade represents a 5.78 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.31% of the stock is owned by company insiders.

Hedge Funds Weigh In On Global Net Lease

Hedge funds and other institutional investors have recently made changes to their positions in the business. Sunbelt Securities Inc. lifted its stake in Global Net Lease by 10.3% during the second quarter. Sunbelt Securities Inc. now owns 14,449 shares of the financial services provider’s stock worth $106,000 after purchasing an additional 1,351 shares during the period. Louisiana State Employees Retirement System boosted its stake in Global Net Lease by 1.7% in the 2nd quarter. Louisiana State Employees Retirement System now owns 98,300 shares of the financial services provider’s stock valued at $723,000 after buying an additional 1,600 shares in the last quarter. Arkadios Wealth Advisors grew its position in Global Net Lease by 3.2% in the second quarter. Arkadios Wealth Advisors now owns 58,017 shares of the financial services provider’s stock valued at $426,000 after acquiring an additional 1,789 shares during the period. Cobblestone Asset Management LLC lifted its holdings in shares of Global Net Lease by 4.2% during the third quarter. Cobblestone Asset Management LLC now owns 44,537 shares of the financial services provider’s stock valued at $375,000 after acquiring an additional 1,804 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in shares of Global Net Lease by 60.1% during the third quarter. GAMMA Investing LLC now owns 5,054 shares of the financial services provider’s stock valued at $43,000 after acquiring an additional 1,897 shares during the period. 61.19% of the stock is owned by institutional investors.

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.