Global Net Lease, Inc. (NYSE:GNL) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Global Net Lease, Inc. (NYSE:GNL) have received a consensus rating of “Hold” from the five brokerages that are currently covering the company, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $9.83.

Several analysts recently issued reports on the company. JMP Securities restated a “market perform” rating on shares of Global Net Lease in a research note on Wednesday, June 12th. 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 lifted 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 note on Wednesday, August 21st. BMO Capital Markets restated an “outperform” rating and set a $11.00 target price on shares of Global Net Lease in a research report on Friday, June 28th. Finally, B. Riley dropped their price target on shares of Global Net Lease from $11.00 to $10.00 and set a “buy” rating for the company in a research report on Monday, August 12th.

Insider Activity

In related news, major shareholder Nicholas S. Schorsch sold 100,000 shares of the stock in a transaction that occurred on 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 owns 1,829,073 shares in the company, valued at approximately $12,840,092.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, major shareholder Nicholas S. Schorsch sold 100,000 shares of the business’s stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $7.02, for a total transaction of $702,000.00. Following the completion of the transaction, the insider now owns 1,829,073 shares of the company’s stock, valued at approximately $12,840,092.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Nicholas S. Schorsch sold 150,000 shares of the firm’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $7.19, for a total value of $1,078,500.00. Following the completion of the sale, the insider now directly owns 2,079,073 shares in the company, valued at $14,948,534.87. The disclosure for this sale can be found here. Corporate insiders own 0.31% of the company’s stock.

Hedge Funds Weigh In On Global Net Lease

Institutional investors have recently added to or reduced their stakes in the stock. Scarborough Advisors LLC bought a new stake in shares of Global Net Lease during the fourth quarter worth $25,000. Principal Securities Inc. acquired a new stake in shares of Global Net Lease during the 4th quarter valued at $86,000. Verus Capital Partners LLC bought a new stake in Global Net Lease during the 2nd quarter worth $74,000. Atomi Financial Group Inc. acquired a new position in Global Net Lease in the 1st quarter worth about $81,000. Finally, Journey Strategic Wealth LLC acquired a new position in Global Net Lease in the 4th quarter worth about $106,000. 61.19% of the stock is currently owned by institutional investors and hedge funds.

Global Net Lease Stock Performance

NYSE GNL opened at $8.67 on Friday. The stock has a market cap of $2.00 billion, a PE ratio of -4.76, a P/E/G ratio of 1.13 and a beta of 1.38. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.05 and a current ratio of 0.05. The firm has a 50-day moving average of $8.53 and a 200-day moving average of $7.75. Global Net Lease has a 52-week low of $6.52 and a 52-week high of $10.69.

Global Net Lease (NYSE:GNL) last issued its quarterly earnings data 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 return on equity of 9.41% and a negative net margin of 33.26%. The company had revenue of $203.29 million for the quarter, compared to analyst estimates of $204.80 million. During the same quarter last year, the business earned $0.40 earnings per share. On average, sell-side analysts anticipate that Global Net Lease will post 1.27 EPS for the current year.

Global Net Lease Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 16th. Shareholders of record on Thursday, July 11th were paid a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 12.69%. This is an increase from Global Net Lease’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend was Thursday, July 11th. Global Net Lease’s dividend payout ratio is presently -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.