Global Net Lease, Inc. (NYSE:GNL) Receives Consensus Rating of “Hold” from Brokerages

Shares of Global Net Lease, Inc. (NYSE:GNL) have been given an average recommendation of “Hold” by the five ratings firms that are currently covering the stock, MarketBeat reports. Three equities 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 covered the stock in the last year is $9.83.

Several equities research analysts recently commented on GNL shares. BMO Capital Markets reaffirmed an “outperform” rating and set a $11.00 target price on shares of Global Net Lease in a research note on Friday, June 28th. StockNews.com upgraded shares of Global Net Lease from a “sell” rating to a “hold” rating in a research note on Thursday, August 8th. Truist Financial increased their target price on shares of Global Net Lease from $8.00 to $8.50 and gave the stock a “hold” rating in a research note on Wednesday, August 21st. Finally, 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.

Global Net Lease Trading Up 0.7 %

Shares of Global Net Lease stock opened at $8.28 on Thursday. 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 has a 12-month low of $6.52 and a 12-month high of $10.19. The company has a market capitalization of $1.91 billion, a price-to-earnings ratio of -4.55, a PEG ratio of 1.12 and a beta of 1.37. The firm’s 50-day moving average price is $8.50 and its two-hundred day moving average price is $7.86.

Global Net Lease (NYSE:GNL) last announced its quarterly earnings results on Tuesday, August 6th. The financial services provider reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.52). Global Net Lease had a negative net margin of 33.26% and a negative return on equity of 9.41%. The company had revenue of $203.29 million for the quarter, compared to the consensus estimate of $204.80 million. During the same period last year, the firm posted $0.40 earnings per share. On average, analysts forecast that Global Net Lease will post 1.27 earnings per share for the current fiscal year.

Global Net Lease Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 16th. Shareholders of record on Friday, October 11th will be issued a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 13.29%. The ex-dividend date is Friday, October 11th. Global Net Lease’s payout ratio is -60.44%.

Insider Activity at Global Net Lease

In related news, major shareholder Nicholas S. Schorsch bought 100,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was bought at an average cost 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 approximately $14,524,213.20. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.31% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Global Net Lease

Several hedge funds have recently made changes to their positions in GNL. Vanguard Group Inc. boosted its holdings 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 worth $337,627,000 after acquiring an additional 3,162,310 shares in the last quarter. Bank of Montreal Can raised its position in shares of Global Net Lease by 12,401.0% in the 2nd quarter. Bank of Montreal Can now owns 3,118,873 shares of the financial services provider’s stock worth $22,986,000 after purchasing an additional 3,093,924 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Global Net Lease by 25.9% in the 1st 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 purchasing an additional 460,717 shares in the last quarter. Bank of New York Mellon Corp grew its position in Global Net Lease by 0.4% during the 2nd 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 purchasing an additional 6,715 shares during the last quarter. Finally, Sound Income Strategies LLC increased its stake 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 valued at $7,945,000 after purchasing an additional 155,377 shares in the last quarter. 61.19% of the stock is owned by hedge funds and other institutional investors.

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.