Global Net Lease, Inc. (NYSE:GNL) Receives $9.00 Consensus PT from Analysts

Global Net Lease, Inc. (NYSE:GNL) has earned a consensus rating of “Moderate Buy” from the five research firms that are currently covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $9.00.

Separately, B. Riley began coverage on shares of Global Net Lease in a report on Tuesday, April 22nd. They set a “neutral” rating and a $8.00 target price on the stock.

Global Net Lease Trading Down 1.3%

GNL opened at $7.88 on Friday. Global Net Lease has a 52 week low of $6.51 and a 52 week high of $9.11. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 0.70. The business has a fifty day simple moving average of $7.66 and a 200-day simple moving average of $7.47. The firm has a market cap of $1.80 billion, a P/E ratio of -8.38 and a beta of 1.22.

Global Net Lease (NYSE:GNL) last posted its earnings results on Wednesday, May 7th. The financial services provider reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.06. The firm had revenue of $132.42 million for the quarter, compared to analyst estimates of $187.40 million. Global Net Lease had a negative return on equity of 7.04% and a negative net margin of 21.37%. On average, equities analysts expect that Global Net Lease will post 1.26 earnings per share for the current year.

Global Net Lease Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 16th. Stockholders of record on Friday, April 11th were given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 9.64%. The ex-dividend date of this dividend was Friday, April 11th. Global Net Lease’s dividend payout ratio is presently -51.35%.

Insider Buying and Selling

In related news, major shareholder Nicholas S. Schorsch sold 100,000 shares of the business’s stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $7.99, for a total transaction of $799,000.00. Following the completion of the sale, the insider now owns 1,529,073 shares in the company, valued at $12,217,293.27. The trade was a 6.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.37% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Blair William & Co. IL grew its holdings in shares of Global Net Lease by 13.2% during the fourth 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 during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in 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. Allworth Financial LP lifted its stake in Global Net Lease by 15.8% in the first quarter. Allworth Financial LP now owns 11,940 shares of the financial services provider’s stock valued at $89,000 after buying an additional 1,626 shares during the last quarter. Summit Investment Advisors Inc. boosted its holdings in shares of Global Net Lease by 8.6% in the fourth quarter. Summit Investment Advisors Inc. now owns 21,006 shares of the financial services provider’s stock valued at $153,000 after acquiring an additional 1,655 shares during the period. Finally, Harbour Investments Inc. grew its position in shares of Global Net Lease by 4.4% during the first quarter. Harbour Investments Inc. now owns 40,616 shares of the financial services provider’s stock worth $327,000 after acquiring an additional 1,723 shares during 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.