Global Net Lease (NYSE:GNL) Price Target Cut to $8.00 by Analysts at Truist Financial

Global Net Lease (NYSE:GNL) had its target price reduced by Truist Financial from $8.50 to $8.00 in a report released on Friday morning,Benzinga reports. They currently have a hold rating on the financial services provider’s stock.

GNL has been the topic of several other research reports. B. Riley decreased 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. StockNews.com upgraded Global Net Lease from a “sell” rating to a “hold” rating in a research report on Thursday, August 8th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Global Net Lease presently has a consensus rating of “Hold” and an average target price of $9.67.

Global Net Lease Price Performance

Shares of GNL stock opened at $7.41 on Friday. Global Net Lease has a 52 week low of $6.52 and a 52 week high of $10.19. The stock has a market capitalization of $1.71 billion, a PE ratio of -7.88, a PEG ratio of 0.97 and a beta of 1.38. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.06 and a current ratio of 0.06. The stock’s fifty day moving average is $8.00 and its 200-day moving average is $8.01.

Global Net Lease (NYSE:GNL) last posted its quarterly earnings data on Wednesday, November 6th. The financial services provider reported ($0.33) earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.65). Global Net Lease had a negative net margin of 21.37% and a negative return on equity of 7.04%. The company had revenue of $196.56 million during the quarter, compared to analyst estimates of $198.76 million. During the same quarter in the previous year, the business posted $0.36 EPS. Equities research analysts expect that Global Net Lease will post 1.27 EPS for the current fiscal year.

Global Net Lease Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 16th. Investors of record on Friday, October 11th were paid a dividend of $0.275 per share. The ex-dividend date was Friday, October 11th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 14.84%. Global Net Lease’s dividend payout ratio (DPR) is presently -117.02%.

Insider Buying and Selling at Global Net Lease

In other news, major shareholder Nicholas S. Schorsch bought 100,000 shares of the stock in a transaction on Wednesday, October 2nd. The stock was purchased at an average price of $8.40 per share, with a total value of $840,000.00. Following the completion of the purchase, the insider now owns 1,729,073 shares of the company’s stock, valued at approximately $14,524,213.20. This trade represents a 6.14 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.31% of the company’s stock.

Institutional Trading of Global Net Lease

A number of large investors have recently made changes to their positions in the company. American Capital Advisory LLC bought a new position in shares of Global Net Lease during the 3rd quarter valued at about $34,000. Park Place Capital Corp acquired a new position in shares of Global Net Lease in the third quarter valued at approximately $35,000. GAMMA Investing LLC increased its position in shares of Global Net Lease by 60.1% during the third quarter. GAMMA Investing LLC now owns 5,054 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 1,897 shares in the last quarter. McIlrath & Eck LLC acquired a new stake in shares of Global Net Lease during the third quarter worth $67,000. Finally, Verus Capital Partners LLC bought a new stake in Global Net Lease in the 2nd quarter valued at $74,000. Institutional investors own 61.19% of the company’s stock.

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.