Global Net Lease (NYSE:GNL) Sets New 12-Month Low at $6.52

Global Net Lease, Inc. (NYSE:GNL)’s share price reached a new 52-week low on Tuesday . The company traded as low as $6.52 and last traded at $6.55, with a volume of 230074 shares changing hands. The stock had previously closed at $6.73.

Analysts Set New Price Targets

A number of research firms have weighed in on GNL. BMO Capital Markets began coverage on shares of Global Net Lease in a research note on Tuesday, February 13th. They issued an “outperform” rating and a $11.00 price objective on the stock. Truist Financial began coverage on shares of Global Net Lease in a research note on Thursday, March 28th. They issued a “hold” rating and a $7.00 price objective on the stock. Finally, BTIG Research lowered shares of Global Net Lease from a “buy” rating to a “neutral” rating in a research note on Friday, March 8th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $12.00.

Global Net Lease Price Performance

The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.66. The business’s 50-day moving average is $7.49 and its two-hundred day moving average is $8.38. The company has a market capitalization of $1.52 billion, a P/E ratio of -3.80, a price-to-earnings-growth ratio of 0.87 and a beta of 1.34.

Global Net Lease Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 16th. Investors of record on Thursday, April 11th were given a dividend of $0.275 per share. This is a positive change from Global Net Lease’s previous quarterly dividend of $0.06. This represents a $1.10 dividend on an annualized basis and a dividend yield of 16.72%. The ex-dividend date of this dividend was Wednesday, April 10th. Global Net Lease’s dividend payout ratio (DPR) is presently -63.58%.

Insider Activity at Global Net Lease

In related news, major shareholder Nicholas S. Schorsch sold 4,837 shares of the firm’s stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $8.90, for a total transaction of $43,049.30. Following the transaction, the insider now directly owns 3,861,472 shares of the company’s stock, valued at $34,367,100.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, major shareholder Nicholas S. Schorsch sold 4,837 shares of the firm’s stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $8.90, for a total transaction of $43,049.30. Following the transaction, the insider now directly owns 3,861,472 shares of the company’s stock, valued at $34,367,100.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Nicholas S. Schorsch sold 176,577 shares of the firm’s stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $9.04, for a total transaction of $1,596,256.08. Following the transaction, the insider now directly owns 4,078,465 shares in the company, valued at $36,869,323.60. The disclosure for this sale can be found here. Insiders have sold 351,414 shares of company stock valued at $3,154,305 over the last ninety days. Corporate insiders own 0.22% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GNL. Vanguard Group Inc. boosted its stake in Global Net Lease by 83.8% in the third quarter. Vanguard Group Inc. now owns 30,770,077 shares of the financial services provider’s stock valued at $295,700,000 after acquiring an additional 14,033,117 shares during the last quarter. Hsbc Holdings PLC boosted its stake in Global Net Lease by 8,487.0% in the third quarter. Hsbc Holdings PLC now owns 4,832,588 shares of the financial services provider’s stock valued at $46,536,000 after acquiring an additional 4,776,310 shares during the last quarter. Corient Private Wealth LLC boosted its stake in Global Net Lease by 3,410.4% in the fourth quarter. Corient Private Wealth LLC now owns 2,688,951 shares of the financial services provider’s stock valued at $26,755,000 after acquiring an additional 2,612,351 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Global Net Lease by 80.3% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,991,844 shares of the financial services provider’s stock valued at $38,362,000 after acquiring an additional 1,778,131 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Global Net Lease by 93.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,497,508 shares of the financial services provider’s stock valued at $33,611,000 after acquiring an additional 1,686,201 shares during the last quarter. 61.19% of the stock is currently owned by hedge funds and other institutional investors.

About Global Net Lease

Global Net Lease, Inc (NYSE: GNL) is a publicly traded real estate investment trust listed on the NYSE 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.