Global Net Lease, Inc. (NYSE:GNL) Receives $10.00 Average Target Price from Analysts

Shares of Global Net Lease, Inc. (NYSE:GNL) have earned an average rating of “Buy” from the six ratings firms that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation, four have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $10.00.

GNL has been the subject of a number of analyst reports. Citizens Jmp upped their price objective on shares of Global Net Lease from $9.00 to $10.00 and gave the stock a “market outperform” rating in a research report on Monday, January 12th. Cantor Fitzgerald raised shares of Global Net Lease to a “strong-buy” rating in a report on Wednesday, February 4th. Citigroup reaffirmed an “outperform” rating on shares of Global Net Lease in a report on Monday, January 12th. Finally, Wall Street Zen upgraded Global Net Lease from a “sell” rating to a “buy” rating in a research report on Saturday, February 28th.

Global Net Lease Stock Down 1.6%

GNL opened at $9.31 on Tuesday. The business has a 50 day moving average price of $9.36 and a two-hundred day moving average price of $8.46. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.19. The company has a market cap of $1.99 billion, a PE ratio of -7.82 and a beta of 1.11. Global Net Lease has a 52 week low of $6.51 and a 52 week high of $10.04.

Global Net Lease Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 16th. Shareholders of record on Monday, January 12th were given a $0.19 dividend. The ex-dividend date was Monday, January 12th. This represents a $0.76 annualized dividend and a yield of 8.2%. Global Net Lease’s dividend payout ratio is presently -63.87%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in GNL. Aberdeen Group plc raised its position in shares of Global Net Lease by 86.9% during the 3rd quarter. Aberdeen Group plc now owns 241,385 shares of the financial services provider’s stock worth $1,949,000 after purchasing an additional 112,203 shares during the last quarter. Corient Private Wealth LLC grew its holdings in Global Net Lease by 4,854.4% during the 2nd quarter. Corient Private Wealth LLC now owns 2,263,808 shares of the financial services provider’s stock valued at $17,092,000 after buying an additional 2,218,115 shares during the last quarter. Waterfall Asset Management LLC increased its position in Global Net Lease by 71.1% during the third quarter. Waterfall Asset Management LLC now owns 342,259 shares of the financial services provider’s stock worth $2,783,000 after buying an additional 142,259 shares in the last quarter. Teacher Retirement System of Texas raised its holdings in shares of Global Net Lease by 199.5% in the third quarter. Teacher Retirement System of Texas now owns 207,314 shares of the financial services provider’s stock worth $1,685,000 after acquiring an additional 138,092 shares during the last quarter. Finally, Ritholtz Wealth Management raised its holdings in shares of Global Net Lease by 49.2% in the third quarter. Ritholtz Wealth Management now owns 330,354 shares of the financial services provider’s stock worth $2,686,000 after acquiring an additional 108,972 shares during the last quarter. 61.19% of the stock is owned by hedge funds and other institutional investors.

About Global Net Lease

Global Net Lease (NYSE: GNL) is a real estate investment trust (REIT) that focuses on acquiring and managing a diversified portfolio of single-tenant, net-lease commercial properties. The company’s business model centers on establishing long-term, triple-net leases with creditworthy tenants, enabling the pass-through of property operating expenses while aiming to provide predictable rental income and stable cash flows. Global Net Lease’s portfolio spans retail, industrial, office and light-industrial assets, each selected for its strategic location and tenant credit quality.

Since launching its initial public offering in April 2016, Global Net Lease has built a presence in key markets throughout the United States and Western Europe.