Analysts Set Global Net Lease, Inc. (NYSE:GNL) PT at $11.13

Shares of Global Net Lease, Inc. (NYSE:GNL) have earned an average rating of “Hold” from the five ratings firms that are covering the company, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12 month target price among brokers that have covered the stock in the last year is $11.13.

A number of brokerages recently issued reports on GNL. JMP Securities restated a “market perform” rating on shares of Global Net Lease in a report on Wednesday, June 12th. BMO Capital Markets reissued an “outperform” rating and issued a $11.00 price objective on shares of Global Net Lease in a research report on Friday, June 28th. Truist Financial boosted their price objective on shares of Global Net Lease from $8.00 to $8.50 and gave the stock a “hold” rating in a research report on Wednesday, August 21st. B. Riley cut their price objective on shares of 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 raised shares of Global Net Lease from a “sell” rating to a “hold” rating in a research report on Thursday, August 8th.

Global Net Lease Trading Down 1.0 %

Shares of GNL stock opened at $8.83 on Friday. Global Net Lease has a 12-month low of $6.52 and a 12-month high of $11.14. The company has a market capitalization of $2.03 billion, a P/E ratio of -4.85, a P/E/G ratio of 1.13 and a beta of 1.38. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.72. The firm has a 50-day moving average price of $8.44 and a 200 day moving average price of $7.71.

Global Net Lease (NYSE:GNL) last announced its earnings results on Tuesday, August 6th. The financial services provider reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.52). Global Net Lease had a negative return on equity of 9.41% and a negative net margin of 33.26%. The company had revenue of $203.29 million during the quarter, compared to the consensus estimate of $204.80 million. During the same period in the prior year, the firm posted $0.40 earnings per share. Research analysts forecast that Global Net Lease will post 1.27 earnings per share 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. The ex-dividend date of this dividend was Thursday, July 11th. This is an increase from Global Net Lease’s previous quarterly dividend of $0.06. This represents a $1.10 annualized dividend and a dividend yield of 12.46%. Global Net Lease’s dividend payout ratio is -60.44%.

Insider Activity at Global Net Lease

In related news, major shareholder Nicholas S. Schorsch sold 100,000 shares of the company’s stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $7.02, for a total value of $702,000.00. Following the transaction, the insider now directly owns 1,829,073 shares in the company, valued at $12,840,092.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Global Net Lease news, major shareholder Nicholas S. Schorsch sold 100,000 shares of the stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $7.02, for a total transaction of $702,000.00. Following the sale, the insider now directly owns 1,829,073 shares in the company, valued at $12,840,092.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Nicholas S. Schorsch sold 433,350 shares of the stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $7.19, for a total transaction of $3,115,786.50. Following the sale, the insider now owns 2,679,073 shares in the company, valued at $19,262,534.87. The disclosure for this sale can be found here. Over the last three months, insiders have sold 683,350 shares of company stock worth $4,896,287. Corporate insiders own 0.31% of the company’s stock.

Institutional Investors Weigh In On Global Net Lease

A number of large investors have recently bought and sold shares of GNL. Corient Private Wealth LLC boosted 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 valued at $26,755,000 after purchasing an additional 2,612,351 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in Global Net Lease by 25.9% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,236,299 shares of the financial services provider’s stock valued at $17,376,000 after acquiring an additional 460,717 shares during the period. Vanguard Group Inc. grew its stake in 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 valued at $337,627,000 after acquiring an additional 3,162,310 shares during the period. CastleKnight Management LP raised its position in Global Net Lease by 59.2% in 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 last quarter. Finally, Nomura Asset Management Co. Ltd. raised its position in Global Net Lease by 1.4% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 219,851 shares of the financial services provider’s stock valued at $2,188,000 after buying an additional 3,044 shares during the last quarter. 61.19% of the stock is currently 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.