Global Net Lease (NYSE:GNL) Upgraded to “Overweight” at KeyCorp

KeyCorp upgraded shares of Global Net Lease (NYSE:GNL) from a sector weight rating to an overweight rating in a report published on Tuesday, MarketBeat Ratings reports. KeyCorp currently has $9.00 price objective on the financial services provider’s stock.

Other analysts also recently issued reports about the stock. JMP Securities reiterated a “market outperform” rating and issued a $9.00 price target on shares of Global Net Lease in a research report on Thursday, June 12th. B. Riley began coverage on shares of Global Net Lease in a research report on Tuesday, April 22nd. They issued a “neutral” rating and a $8.00 price target on the stock. Finally, Colliers Securities upgraded shares of Global Net Lease from a “neutral” rating to a “buy” rating and set a $12.00 target price on the stock in a report on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $9.20.

Global Net Lease Stock Performance

Shares of NYSE:GNL opened at $7.7650 on Tuesday. The company has a market capitalization of $1.72 billion, a price-to-earnings ratio of -5.39 and a beta of 1.20. The firm’s 50 day simple moving average is $7.37 and its 200 day simple moving average is $7.53. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.13 and a quick ratio of 0.13. Global Net Lease has a fifty-two week low of $6.51 and a fifty-two week high of $9.10.

Global Net Lease (NYSE:GNL) last announced its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.04. The business had revenue of $124.91 million for the quarter, compared to the consensus estimate of $138.38 million. Global Net Lease had a negative net margin of 43.75% and a negative return on equity of 9.71%. As a group, sell-side analysts forecast that Global Net Lease will post 1.26 earnings per share for the current year.

Global Net Lease Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 16th. Shareholders of record on Friday, July 11th were issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 9.8%. The ex-dividend date was Friday, July 11th. Global Net Lease’s dividend payout ratio (DPR) is -52.78%.

Insider Activity at Global Net Lease

In other news, CEO Edward M. Jr. Weil sold 150,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 10th. The shares were sold at an average price of $7.61, for a total transaction of $1,141,500.00. Following the completion of the transaction, the chief executive officer directly owned 584,053 shares of the company’s stock, valued at $4,444,643.33. This trade represents a 20.43% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Nicholas S. Schorsch sold 300,000 shares of the firm’s stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $7.33, for a total transaction of $2,199,000.00. Following the transaction, the insider directly owned 19,607,384 shares of the company’s stock, valued at $143,722,124.72. This represents a 1.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 7,553,000 shares of company stock worth $56,115,790 over the last 90 days. Corporate insiders own 0.37% of the company’s stock.

Hedge Funds Weigh In On Global Net Lease

Several hedge funds have recently made changes to their positions in GNL. CoreCap Advisors LLC bought a new position in shares of Global Net Lease during the 4th quarter worth approximately $25,000. Ameriflex Group Inc. bought a new position in shares of Global Net Lease during the 4th quarter worth approximately $25,000. GF Fund Management CO. LTD. bought a new position in shares of Global Net Lease during the 4th quarter worth approximately $26,000. Arlington Trust Co LLC bought a new position in shares of Global Net Lease during the 2nd quarter worth approximately $32,000. Finally, GAMMA Investing LLC grew its stake in shares of Global Net Lease by 100.6% during the 2nd quarter. GAMMA Investing LLC now owns 5,487 shares of the financial services provider’s stock worth $41,000 after acquiring an additional 2,752 shares in the last quarter. 61.19% of the stock is owned by 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.