Global Net Lease, Inc. (NYSE:GNL) Given Average Rating of “Hold” by Brokerages

Global Net Lease, Inc. (NYSE:GNL) has been assigned a consensus rating of “Hold” from the four brokerages that are presently covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $12.00.

A number of analysts recently commented on the stock. BTIG Research downgraded shares of Global Net Lease from a “buy” rating to a “neutral” rating in a report on Friday, March 8th. Truist Financial initiated coverage on shares of Global Net Lease in a research report on Thursday, March 28th. They set a “hold” rating and a $7.00 price objective on the stock. BMO Capital Markets initiated coverage on shares of Global Net Lease in a research note on Tuesday, February 13th. They issued an “outperform” rating and a $11.00 target price for the company. Finally, JMP Securities reiterated a “market perform” rating on shares of Global Net Lease in a research note on Thursday.

Insider Activity at Global Net Lease

In other news, major shareholder Nicholas S. Schorsch sold 176,577 shares of Global Net Lease stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $9.04, for a total transaction of $1,596,256.08. Following the completion of the sale, the insider now owns 4,078,465 shares of the company’s stock, valued at $36,869,323.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Global Net Lease news, major shareholder Nicholas S. Schorsch sold 176,577 shares of Global Net Lease stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $9.04, for a total value of $1,596,256.08. Following the transaction, the insider now owns 4,078,465 shares in the company, valued at $36,869,323.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Nicholas S. Schorsch sold 4,837 shares of the business’s stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $8.90, for a total value of $43,049.30. Following the sale, the insider now owns 3,861,472 shares in the company, valued at $34,367,100.80. The disclosure for this sale can be found here. Over the last three months, insiders sold 351,414 shares of company stock valued at $3,154,305. 0.22% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Global Net Lease

Several institutional investors have recently added to or reduced their stakes in GNL. Raymond James & Associates lifted its stake in Global Net Lease by 11.8% in the first quarter. Raymond James & Associates now owns 74,749 shares of the financial services provider’s stock valued at $1,176,000 after buying an additional 7,886 shares during the period. Bank of New York Mellon Corp raised its position in shares of Global Net Lease by 4.5% during the first quarter. Bank of New York Mellon Corp now owns 1,145,077 shares of the financial services provider’s stock worth $18,013,000 after purchasing an additional 48,896 shares during the period. Bank of Montreal Can raised its position in shares of Global Net Lease by 5.3% during the first quarter. Bank of Montreal Can now owns 31,150 shares of the financial services provider’s stock worth $491,000 after purchasing an additional 1,581 shares during the period. MetLife Investment Management LLC raised its position in shares of Global Net Lease by 57.8% during the first quarter. MetLife Investment Management LLC now owns 54,350 shares of the financial services provider’s stock worth $855,000 after purchasing an additional 19,899 shares during the period. Finally, Rhumbline Advisers raised its position in shares of Global Net Lease by 1.6% during the first quarter. Rhumbline Advisers now owns 317,198 shares of the financial services provider’s stock worth $4,990,000 after purchasing an additional 5,102 shares during the period. 61.19% of the stock is owned by institutional investors and hedge funds.

Global Net Lease Stock Performance

NYSE:GNL traded up $0.02 during mid-day trading on Thursday, hitting $6.60. The stock had a trading volume of 549,240 shares, compared to its average volume of 1,633,919. The stock has a market capitalization of $1.52 billion, a price-to-earnings ratio of -3.82, a P/E/G ratio of 0.85 and a beta of 1.34. The company has a 50 day simple moving average of $7.49 and a 200-day simple moving average of $8.38. Global Net Lease has a 52 week low of $6.52 and a 52 week high of $11.58. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.66.

Global Net Lease Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 16th. Stockholders of record on Thursday, April 11th were paid a dividend of $0.275 per share. This is a boost from Global Net Lease’s previous quarterly dividend of $0.06. This represents a $1.10 annualized dividend and a dividend yield of 16.67%. The ex-dividend date was Wednesday, April 10th. Global Net Lease’s dividend payout ratio (DPR) is currently -63.58%.

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.