Analysts Set Global Net Lease, Inc. (NYSE:GNL) PT at $10.75

Shares of Global Net Lease, Inc. (NYSE:GNL) have earned an average recommendation of “Hold” from the five brokerages that are presently covering the stock, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $11.13.

Several equities research analysts have commented on the stock. BMO Capital Markets reissued an “outperform” rating and set a $11.00 price target on shares of Global Net Lease in a research report on Friday, June 28th. JMP Securities reissued a “market perform” rating on shares of Global Net Lease in a research report 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 cut their price objective on Global Net Lease from $11.00 to $10.00 and set a “buy” rating for the company in a report on Monday, August 12th. Finally, Truist Financial boosted their target price on shares of Global Net Lease from $8.00 to $8.50 and gave the stock a “hold” rating in a report on Wednesday.

Global Net Lease Price Performance

GNL stock opened at $8.59 on Wednesday. The stock has a 50-day moving average price of $7.98 and a two-hundred day moving average price of $7.62. Global Net Lease has a 1 year low of $6.52 and a 1 year high of $11.58. The stock has a market cap of $1.98 billion, a PE ratio of -4.72, a price-to-earnings-growth ratio of 1.11 and a beta of 1.37. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.70.

Global Net Lease (NYSE:GNL) last posted its quarterly earnings data on Tuesday, August 6th. The financial services provider reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.52). Global Net Lease had a negative return on equity of 10.08% and a negative net margin of 37.46%. The firm had revenue of $203.29 million for 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. Equities analysts forecast that Global Net Lease will post 1.29 EPS for the current fiscal year.

Global Net Lease Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 16th. Investors of record on Thursday, July 11th were paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 12.81%. The ex-dividend date was 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 is -60.44%.

Insider Buying and Selling at Global Net Lease

In other news, major shareholder Nicholas S. Schorsch sold 200,000 shares of the firm’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $7.16, for a total transaction of $1,432,000.00. Following the completion of the sale, the insider now owns 3,201,694 shares in the company, valued at approximately $22,924,129.04. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, major shareholder Nicholas S. Schorsch sold 200,000 shares of Global Net Lease stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $7.16, for a total transaction of $1,432,000.00. Following the completion of the sale, the insider now directly owns 3,201,694 shares of the company’s stock, valued at approximately $22,924,129.04. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, major shareholder Nicholas S. Schorsch sold 159,720 shares of the business’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $7.32, for a total value of $1,169,150.40. Following the completion of the sale, the insider now owns 3,546,752 shares of the company’s stock, valued at $25,962,224.64. The disclosure for this sale can be found here. Insiders sold 1,043,070 shares of company stock valued at $7,497,437 in the last quarter. 0.31% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. increased its position in shares of Global Net Lease by 10.3% in the fourth 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. Bank of Montreal Can increased its holdings in Global Net Lease by 12,401.0% in the 2nd quarter. Bank of Montreal Can now owns 3,118,873 shares of the financial services provider’s stock valued at $22,986,000 after buying an additional 3,093,924 shares during the period. Corient Private Wealth LLC raised its position 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 valued at $26,755,000 after buying an additional 2,612,351 shares in the last quarter. Norges Bank bought a new stake in shares of Global Net Lease during the 4th quarter worth approximately $9,378,000. Finally, Edgestream Partners L.P. bought a new stake in shares of Global Net Lease during the 1st quarter worth approximately $3,798,000. 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 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.