Analysts Set Global Net Lease, Inc. (NYSE:GNL) Price Target at $9.83

Global Net Lease, Inc. (NYSE:GNL) has earned an average rating of “Hold” from the five research firms that are currently covering the stock, Marketbeat reports. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $9.83.

Several brokerages have recently commented on GNL. StockNews.com upgraded shares of Global Net Lease from a “sell” rating to a “hold” rating in a research note on Thursday, August 8th. B. Riley reduced their target price on Global Net Lease from $11.00 to $10.00 and set a “buy” rating on the stock in a report on Monday, August 12th. Truist Financial upped their price target on Global Net Lease from $8.00 to $8.50 and gave the stock a “hold” rating in a research report on Wednesday, August 21st. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $11.00 price target on shares of Global Net Lease in a research note on Friday, June 28th.

Insider Activity

In related news, major shareholder Nicholas S. Schorsch bought 100,000 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The shares were bought at an average price of $8.40 per share, for a total transaction of $840,000.00. Following the completion of the acquisition, the insider now directly owns 1,729,073 shares of the company’s stock, valued at $14,524,213.20. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.31% of the company’s stock.

Hedge Funds Weigh In On Global Net Lease

Several institutional investors and hedge funds have recently bought and sold shares of GNL. Vanguard Group Inc. raised its holdings in Global Net Lease by 10.3% during the 4th 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. Bank of Montreal Can grew its holdings 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 buying an additional 3,093,924 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of 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 worth $17,376,000 after buying an additional 460,717 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Global Net Lease by 0.4% in the second quarter. Bank of New York Mellon Corp now owns 1,607,268 shares of the financial services provider’s stock valued at $11,813,000 after acquiring an additional 6,715 shares during the period. Finally, Sound Income Strategies LLC increased its holdings in Global Net Lease by 17.9% during the 1st quarter. Sound Income Strategies LLC now owns 1,022,526 shares of the financial services provider’s stock worth $7,945,000 after acquiring an additional 155,377 shares during the period. 61.19% of the stock is owned by institutional investors.

Global Net Lease Price Performance

GNL stock opened at $8.22 on Thursday. The firm has a market capitalization of $1.89 billion, a PE ratio of -4.52, a P/E/G ratio of 1.12 and a beta of 1.37. The firm has a 50-day moving average of $8.49 and a two-hundred day moving average of $7.86. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.72. Global Net Lease has a one year low of $6.52 and a one year high of $10.19.

Global Net Lease (NYSE:GNL) last posted its earnings results on Tuesday, August 6th. The financial services provider reported ($0.20) EPS for the quarter, missing the consensus estimate 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 business had revenue of $203.29 million for the quarter, compared to analyst estimates of $204.80 million. During the same period in the previous year, the company earned $0.40 earnings per share. On average, analysts forecast that Global Net Lease will post 1.27 earnings per share for the current year.

Global Net Lease Dividend Announcement

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

Global Net Lease Company Profile

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.