Global Net Lease (NYSE:GNL) Upgraded at Citizens Jmp

Citizens Jmp upgraded shares of Global Net Lease (NYSE:GNL) from a hold rating to a strong-buy rating in a research report report published on Tuesday morning,Zacks.com reports.

Several other research analysts have also issued reports on the company. JMP Securities upgraded Global Net Lease from a “market perform” rating to an “outperform” rating and set a $9.00 target price for the company in a research report on Tuesday. Truist Financial cut their price target on shares of Global Net Lease from $8.50 to $8.00 and set a “hold” rating on the stock in a report on Friday, November 29th. Three investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $9.50.

Global Net Lease Price Performance

Shares of GNL opened at $7.02 on Tuesday. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 0.70. Global Net Lease has a twelve month low of $6.52 and a twelve month high of $10.19. The company has a market capitalization of $1.62 billion, a P/E ratio of -7.47, a price-to-earnings-growth ratio of 0.93 and a beta of 1.34. The firm has a 50 day moving average of $7.65 and a 200 day moving average of $7.98.

Global Net Lease (NYSE:GNL) last announced its earnings results on Wednesday, November 6th. The financial services provider reported ($0.33) EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.65). Global Net Lease had a negative return on equity of 7.04% and a negative net margin of 21.37%. 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 prior year, the business posted $0.36 earnings per share. As a group, equities research analysts anticipate that Global Net Lease will post 1.27 earnings per share for the current fiscal year.

Global Net Lease Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 16th. Investors of record on Friday, October 11th were given a $0.275 dividend. The ex-dividend date of this dividend was Friday, October 11th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 15.67%. Global Net Lease’s dividend payout ratio (DPR) is presently -117.02%.

Insider Buying and Selling

In other Global Net Lease news, major shareholder Nicholas S. Schorsch acquired 100,000 shares of the company’s stock in a transaction dated Monday, November 11th. The stock was acquired at an average cost of $7.72 per share, with a total value of $772,000.00. Following the purchase, the insider now directly owns 1,829,073 shares in the company, valued at approximately $14,120,443.56. This trade represents a 5.78 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. 0.31% of the stock is owned by company insiders.

Institutional Investors Weigh In On Global Net Lease

Several large investors have recently added to or reduced their stakes in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Global Net Lease by 392.8% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,048,596 shares of the financial services provider’s stock valued at $8,829,000 after acquiring an additional 835,830 shares during the period. Bank of Montreal Can boosted its stake in Global Net Lease by 12,401.0% during 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 purchasing an additional 3,093,924 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Global Net Lease by 4.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,058,850 shares of the financial services provider’s stock valued at $34,176,000 after purchasing an additional 166,247 shares during the period. Advisors Asset Management Inc. raised its stake in shares of Global Net Lease by 12.2% in the 3rd quarter. Advisors Asset Management Inc. now owns 1,109,842 shares of the financial services provider’s stock worth $9,345,000 after buying an additional 120,610 shares in the last quarter. Finally, Private Advisor Group LLC acquired a new stake in shares of Global Net Lease in the third quarter valued at $92,000. 61.19% of the stock is owned by institutional investors and hedge funds.

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.