Brokerages Set Global Net Lease, Inc. (NYSE:GNL) Price Target at $9.67

Global Net Lease, Inc. (NYSE:GNL) has been given a consensus recommendation of “Hold” by the five ratings firms that are currently covering the firm, MarketBeat reports. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $9.67.

Several analysts have weighed in on GNL shares. Truist Financial lowered their price objective on Global Net Lease from $8.50 to $8.00 and set a “hold” rating for the company in a research report on Friday. B. Riley dropped their price target on Global Net Lease from $11.00 to $10.00 and set a “buy” rating on the stock in a research report on Monday, August 12th. Finally, StockNews.com raised Global Net Lease from a “sell” rating to a “hold” rating in a research report on Thursday, August 8th.

Global Net Lease Stock Performance

Shares of GNL stock opened at $7.41 on Friday. The company has a market cap of $1.71 billion, a P/E ratio of -7.88, a P/E/G ratio of 0.97 and a beta of 1.38. Global Net Lease has a one year low of $6.52 and a one year high of $10.19. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.06 and a quick ratio of 0.06. The firm has a 50-day moving average of $8.00 and a 200-day moving average of $8.01.

Global Net Lease (NYSE:GNL) last announced its quarterly earnings results on Wednesday, November 6th. The financial services provider reported ($0.33) EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.65). Global Net Lease had a negative net margin of 21.37% and a negative return on equity of 7.04%. The business had revenue of $196.56 million for the quarter, compared to analysts’ expectations of $198.76 million. During the same quarter in the previous year, the company posted $0.36 earnings per share. Equities research analysts forecast that Global Net Lease will post 1.27 EPS for the current fiscal year.

Global Net Lease Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 16th. Stockholders of record on Friday, October 11th were issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 14.84%. The ex-dividend date of this dividend was Friday, October 11th. Global Net Lease’s dividend payout ratio (DPR) is -117.02%.

Insider Buying and Selling

In other Global Net Lease news, major shareholder Nicholas S. Schorsch acquired 100,000 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was bought at an average cost of $7.72 per share, with a total value of $772,000.00. Following the completion of the purchase, the insider now directly owns 1,829,073 shares in the company, valued at $14,120,443.56. The trade was a 5.78 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.31% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Global Net Lease

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Sunbelt Securities Inc. boosted its position in shares of Global Net Lease by 10.3% in the 2nd quarter. Sunbelt Securities Inc. now owns 14,449 shares of the financial services provider’s stock worth $106,000 after purchasing an additional 1,351 shares in the last quarter. Louisiana State Employees Retirement System grew its stake in shares of Global Net Lease by 1.7% during the second quarter. Louisiana State Employees Retirement System now owns 98,300 shares of the financial services provider’s stock worth $723,000 after acquiring an additional 1,600 shares during the last quarter. Arkadios Wealth Advisors increased its holdings in shares of Global Net Lease by 3.2% during the second quarter. Arkadios Wealth Advisors now owns 58,017 shares of the financial services provider’s stock valued at $426,000 after acquiring an additional 1,789 shares in the last quarter. Cobblestone Asset Management LLC raised its position in shares of Global Net Lease by 4.2% in the 3rd quarter. Cobblestone Asset Management LLC now owns 44,537 shares of the financial services provider’s stock valued at $375,000 after purchasing an additional 1,804 shares during the last quarter. Finally, GAMMA Investing LLC boosted its stake in Global Net Lease by 60.1% in the 3rd quarter. GAMMA Investing LLC now owns 5,054 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 1,897 shares in the last quarter. Hedge funds and other institutional investors own 61.19% of the company’s stock.

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.