Global Net Lease (NYSE:GNL) Shares Gap Down – Here’s What Happened

Shares of Global Net Lease, Inc. (NYSE:GNL) gapped down prior to trading on Friday . The stock had previously closed at $8.39, but opened at $8.15. Global Net Lease shares last traded at $8.17, with a volume of 100,013 shares.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Truist Financial raised their price objective on shares of Global Net Lease from $8.00 to $8.50 and gave the company a “hold” rating in a research report on Wednesday, August 21st. BMO Capital Markets reaffirmed an “outperform” rating and set a $11.00 price target on shares of Global Net Lease in a research note on Friday, June 28th. B. Riley reduced their price objective 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, StockNews.com upgraded 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 assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $9.83.

Global Net Lease Trading Up 1.3 %

The firm’s 50-day simple moving average is $8.49 and its 200-day simple moving average is $7.86. The firm has a market capitalization of $1.89 billion, a PE ratio of -4.52, a price-to-earnings-growth ratio of 1.12 and a beta of 1.37. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.72.

Global Net Lease (NYSE:GNL) last issued 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). The company had revenue of $203.29 million for the quarter, compared to analysts’ expectations of $204.80 million. Global Net Lease had a negative net margin of 33.26% and a negative return on equity of 9.41%. During the same quarter in the prior year, the company earned $0.40 earnings per share. Equities analysts expect that Global Net Lease, Inc. will post 1.27 earnings per share for the current year.

Global Net Lease Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 16th. Investors of record on Friday, October 11th will be paid a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 13.38%. The ex-dividend date of this dividend is Friday, October 11th. Global Net Lease’s payout ratio is -60.44%.

Insider Buying and Selling at Global Net Lease

In other news, major shareholder Nicholas S. Schorsch acquired 100,000 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The shares were purchased at an average price of $8.40 per share, for a total transaction of $840,000.00. Following the completion of the transaction, the insider now owns 1,729,073 shares of the company’s stock, valued at $14,524,213.20. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.31% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Global Net Lease

A number of large investors have recently made changes to their positions in GNL. Creative Planning lifted its stake in Global Net Lease by 8.0% in the third quarter. Creative Planning now owns 77,867 shares of the financial services provider’s stock worth $656,000 after acquiring an additional 5,784 shares during the period. Pensionfund Sabic raised its holdings in Global Net Lease by 52.7% in the 3rd quarter. Pensionfund Sabic now owns 14,492 shares of the financial services provider’s stock worth $122,000 after purchasing an additional 5,000 shares in the last quarter. Park Place Capital Corp purchased a new stake in shares of Global Net Lease in the 3rd quarter worth about $35,000. GAMMA Investing LLC boosted its stake in shares of Global Net Lease by 60.1% during the 3rd quarter. GAMMA Investing LLC now owns 5,054 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 1,897 shares in the last quarter. Finally, Handelsbanken Fonder AB increased its position in shares of Global Net Lease by 44.9% during the third quarter. Handelsbanken Fonder AB now owns 86,146 shares of the financial services provider’s stock valued at $725,000 after buying an additional 26,700 shares during the period. 61.19% of the stock is currently 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.