Global Net Lease, Inc. (NYSE:GNL) Receives $11.00 Consensus Target Price from Brokerages

Global Net Lease, Inc. (NYSE:GNL) has earned a consensus recommendation of “Hold” from the four analysts that are presently covering the firm, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $11.00.

Several analysts have recently issued reports on the company. BTIG Research lowered Global Net Lease from a “buy” rating to a “neutral” rating in a report on Friday, March 8th. JMP Securities restated a “market perform” rating on shares of Global Net Lease in a research report on Wednesday, June 12th. Truist Financial began coverage on Global Net Lease in a research report on Thursday, March 28th. They issued a “hold” rating and a $7.00 target price for the company. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $11.00 target price on shares of Global Net Lease in a research report on Friday, June 28th.

Global Net Lease Stock Performance

Shares of NYSE GNL opened at $7.40 on Tuesday. The firm has a market cap of $1.70 billion, a price-to-earnings ratio of -4.07, a P/E/G ratio of 0.96 and a beta of 1.38. Global Net Lease has a one year low of $6.52 and a one year high of $11.58. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.05 and a quick ratio of 0.05. The stock’s fifty day moving average price is $7.35 and its two-hundred day moving average price is $7.88.

Global Net Lease Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 16th. Shareholders of record on Thursday, July 11th will be paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 14.86%. The ex-dividend date is Thursday, July 11th. This is a boost from Global Net Lease’s previous quarterly dividend of $0.06. Global Net Lease’s dividend payout ratio (DPR) is -60.44%.

Insider Buying and Selling at Global Net Lease

In related news, major shareholder Nicholas S. Schorsch sold 100,000 shares of Global Net Lease stock in a transaction that occurred on Wednesday, June 26th. The stock was 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 of the company’s stock, valued at $12,840,092.46. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, major shareholder Nicholas S. Schorsch sold 159,720 shares of Global Net Lease stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $7.32, for a total value of $1,169,150.40. Following the completion of the transaction, the insider now directly owns 3,546,752 shares in the company, valued at $25,962,224.64. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Nicholas S. Schorsch sold 100,000 shares of Global Net Lease stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $7.02, for a total value of $702,000.00. Following the completion of the transaction, the insider now owns 1,829,073 shares of the company’s stock, valued at $12,840,092.46. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,043,070 shares of company stock valued at $7,497,437. Company insiders own 0.31% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of GNL. Corient Private Wealth LLC grew its stake in shares of Global Net Lease by 3,410.4% in the 4th quarter. Corient Private Wealth LLC now owns 2,688,951 shares of the financial services provider’s stock worth $26,755,000 after buying an additional 2,612,351 shares during the last quarter. Vanguard Group Inc. boosted its stake in Global Net Lease by 83.8% during the 3rd quarter. Vanguard Group Inc. now owns 30,770,077 shares of the financial services provider’s stock valued at $295,700,000 after purchasing an additional 14,033,117 shares during the last quarter. Northern Trust Corp boosted its stake in Global Net Lease by 83.8% during the 3rd quarter. Northern Trust Corp now owns 2,217,620 shares of the financial services provider’s stock valued at $21,311,000 after purchasing an additional 1,011,160 shares during the last quarter. CastleKnight Management LP lifted its holdings in shares of Global Net Lease by 59.2% during the 4th quarter. CastleKnight Management LP now owns 1,164,081 shares of the financial services provider’s stock valued at $11,583,000 after buying an additional 432,729 shares during the period. Finally, Public Sector Pension Investment Board lifted its holdings in shares of Global Net Lease by 30.3% during the 3rd quarter. Public Sector Pension Investment Board now owns 240,201 shares of the financial services provider’s stock valued at $2,308,000 after buying an additional 55,871 shares during the period. Institutional investors 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 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.