Brokerages Set Global Net Lease, Inc. (NYSE:GNL) PT at $9.50

Global Net Lease, Inc. (NYSE:GNL) has been assigned an average recommendation of “Moderate Buy” from the five brokerages that are currently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $9.00.

Separately, B. Riley assumed coverage on Global Net Lease in a research note on Tuesday. They issued a “neutral” rating and a $8.00 price objective on the stock.

Global Net Lease Price Performance

GNL stock opened at $7.50 on Tuesday. The company has a market capitalization of $1.72 billion, a PE ratio of -7.98 and a beta of 1.19. The company’s fifty day moving average price is $7.65 and its 200-day moving average price is $7.53. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.06 and a current ratio of 0.06. Global Net Lease has a one year low of $6.51 and a one year high of $9.11.

Global Net Lease Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 16th. Investors of record on Friday, April 11th were paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 10.13%. The ex-dividend date of this dividend was Friday, April 11th. Global Net Lease’s dividend payout ratio is currently -100.00%.

Insider Activity

In other news, major shareholder Nicholas S. Schorsch sold 200,000 shares of the stock in a transaction that occurred on Thursday, April 3rd. The shares were sold at an average price of $7.95, for a total transaction of $1,590,000.00. Following the transaction, the insider now directly owns 1,629,073 shares in the company, valued at approximately $12,951,130.35. This trade represents a 10.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.37% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of GNL. Blair William & Co. IL boosted its stake in Global Net Lease by 13.2% in the 4th quarter. Blair William & Co. IL now owns 12,300 shares of the financial services provider’s stock worth $90,000 after purchasing an additional 1,433 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Global Net Lease by 1.1% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 135,582 shares of the financial services provider’s stock worth $1,020,000 after buying an additional 1,465 shares during the period. Summit Investment Advisors Inc. grew its holdings in shares of Global Net Lease by 8.6% during the fourth quarter. Summit Investment Advisors Inc. now owns 21,006 shares of the financial services provider’s stock valued at $153,000 after buying an additional 1,655 shares during the last quarter. Arrow Investment Advisors LLC increased its position in shares of Global Net Lease by 10.6% in the 1st quarter. Arrow Investment Advisors LLC now owns 21,039 shares of the financial services provider’s stock valued at $169,000 after acquiring an additional 2,012 shares during the period. Finally, Apeiron RIA LLC increased its position in shares of Global Net Lease by 7.4% in the 4th quarter. Apeiron RIA LLC now owns 32,084 shares of the financial services provider’s stock valued at $234,000 after acquiring an additional 2,200 shares during the period. Hedge funds and other institutional investors own 61.19% of the company’s stock.

About Global Net Lease

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.