Analysts Set Global Net Lease, Inc. (NYSE:GNL) Price Target at $9.20

Global Net Lease, Inc. (NYSE:GNL) has received an average rating of “Moderate Buy” from the six ratings firms that are presently covering the company, Marketbeat.com reports. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $9.20.

GNL has been the subject of a number of research analyst reports. Colliers Securities raised Global Net Lease from a “neutral” rating to a “buy” rating and set a $12.00 price target for the company in a research note on Thursday, August 7th. Wall Street Zen raised Global Net Lease from a “sell” rating to a “hold” rating in a research note on Friday, August 22nd. KeyCorp raised Global Net Lease from a “sector weight” rating to an “overweight” rating and set a $9.00 price target for the company in a research note on Tuesday, August 19th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $9.00 price target on shares of Global Net Lease in a research note on Thursday, June 12th.

Insiders Place Their Bets

In other Global Net Lease news, insider Nicholas S. Schorsch sold 300,000 shares of the firm’s stock in a transaction 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 completion of the transaction, the insider owned 19,607,384 shares of the company’s stock, valued at approximately $143,722,124.72. This trade represents a 1.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Edward M. Jr. Weil sold 150,000 shares of the firm’s stock in a transaction on Thursday, July 10th. The shares were sold at an average price of $7.61, for a total value of $1,141,500.00. Following the transaction, the chief executive officer directly owned 584,053 shares of the company’s stock, valued at $4,444,643.33. This represents a 20.43% decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,553,000 shares of company stock valued at $56,115,790 in the last ninety days. 0.37% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Global Net Lease

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. TT Capital Management LLC purchased a new position in Global Net Lease during the second quarter valued at $77,000. State of Wyoming purchased a new position in Global Net Lease during the second quarter valued at $104,000. Caxton Associates LLP purchased a new position in Global Net Lease during the second quarter valued at $374,000. Public Sector Pension Investment Board lifted its position in Global Net Lease by 4.1% during the second quarter. Public Sector Pension Investment Board now owns 653,509 shares of the financial services provider’s stock valued at $4,934,000 after buying an additional 25,459 shares during the period. Finally, CANADA LIFE ASSURANCE Co lifted its position in Global Net Lease by 2.7% during the second quarter. CANADA LIFE ASSURANCE Co now owns 438,987 shares of the financial services provider’s stock valued at $3,317,000 after buying an additional 11,463 shares during the period. Hedge funds and other institutional investors own 61.19% of the company’s stock.

Global Net Lease Stock Up 0.7%

Shares of Global Net Lease stock opened at $7.87 on Monday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.13 and a current ratio of 0.13. Global Net Lease has a 52-week low of $6.51 and a 52-week high of $9.10. The stock has a market capitalization of $1.74 billion, a price-to-earnings ratio of -5.46 and a beta of 1.22. The company’s 50 day moving average price is $7.45 and its 200-day moving average price is $7.58.

Global Net Lease (NYSE:GNL) last issued its earnings results on Wednesday, August 6th. The financial services provider reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.04. Global Net Lease had a negative net margin of 43.75% and a negative return on equity of 9.71%. The firm had revenue of $124.91 million for the quarter, compared to analysts’ expectations of $138.38 million. Equities research analysts forecast that Global Net Lease will post 1.26 EPS for the current year.

Global Net Lease Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 16th. Investors of record on Friday, July 11th were paid a $0.19 dividend. The ex-dividend date of this dividend was Friday, July 11th. This represents a $0.76 dividend on an annualized basis and a yield of 9.7%. Global Net Lease’s dividend payout ratio (DPR) is presently -52.78%.

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.