Global Net Lease’s (GNL) Outperform Rating Reaffirmed at BMO Capital Markets

BMO Capital Markets reiterated their outperform rating on shares of Global Net Lease (NYSE:GNL) in a report issued on Friday morning, Benzinga reports. The brokerage currently has a $11.00 price target on the financial services provider’s stock.

Other equities research analysts have also issued research reports about the company. BTIG Research lowered Global Net Lease from a buy rating to a neutral rating in a report on Friday, March 8th. JMP Securities reiterated a market perform rating on shares of Global Net Lease in a report on Wednesday, June 12th. Finally, Truist Financial initiated coverage on Global Net Lease in a report on Thursday, March 28th. They issued a hold rating and a $7.00 price target on the stock. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of Hold and a consensus target price of $11.00.

Global Net Lease Stock Performance

Shares of Global Net Lease stock opened at $7.35 on Friday. Global Net Lease has a one year low of $6.52 and a one year high of $11.58. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.05 and a current ratio of 0.05. The stock’s 50-day moving average is $7.31 and its 200 day moving average is $7.93.

Global Net Lease Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 16th. Stockholders of record on Thursday, April 11th were issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 14.97%. The ex-dividend date of this dividend was Wednesday, April 10th. This is a positive change from Global Net Lease’s previous quarterly dividend of $0.06. Global Net Lease’s dividend payout ratio (DPR) is currently -60.44%.

Insider Activity at Global Net Lease

In related news, major shareholder Nicholas S. Schorsch sold 200,000 shares of the stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $7.16, for a total transaction of $1,432,000.00. Following the completion of the sale, the insider now directly owns 3,201,694 shares of the company’s stock, valued at $22,924,129.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, major shareholder Nicholas S. Schorsch sold 200,000 shares of the stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $7.16, for a total transaction of $1,432,000.00. Following the completion of the sale, the insider now directly owns 3,201,694 shares of the company’s stock, valued at $22,924,129.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Nicholas S. Schorsch sold 100,000 shares of the stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $7.02, for a total value of $702,000.00. Following the sale, the insider now directly owns 1,829,073 shares of the company’s stock, valued at $12,840,092.46. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,043,070 shares of company stock valued at $7,497,437. 0.31% of the stock is owned by insiders.

Institutional Trading of Global Net Lease

A number of large investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its position in Global Net Lease by 10.3% in the fourth quarter. Vanguard Group Inc. now owns 33,932,387 shares of the financial services provider’s stock worth $337,627,000 after buying an additional 3,162,310 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Global Net Lease by 5.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,698,157 shares of the financial services provider’s stock worth $36,797,000 after acquiring an additional 200,649 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Global Net Lease by 3.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,724,873 shares of the financial services provider’s stock worth $27,113,000 after acquiring an additional 92,391 shares during the period. Corient Private Wealth LLC boosted its holdings in shares of Global Net Lease by 3,410.4% in the fourth quarter. Corient Private Wealth LLC now owns 2,688,951 shares of the financial services provider’s stock worth $26,755,000 after acquiring an additional 2,612,351 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Global Net Lease by 25.9% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,236,299 shares of the financial services provider’s stock worth $17,376,000 after acquiring an additional 460,717 shares during the period. 61.19% of the stock is owned by hedge funds and other institutional investors.

About Global Net Lease

Global Net Lease, Inc (NYSE: GNL) is a publicly traded real estate investment trust listed on the NYSE 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.