Global Net Lease (NYSE:GNL) Hits New 12-Month High – Here’s Why

Global Net Lease, Inc. (NYSE:GNL)’s share price hit a new 52-week high during mid-day trading on Friday . The company traded as high as $9.66 and last traded at $9.6450, with a volume of 865643 shares changing hands. The stock had previously closed at $9.58.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Citizens Jmp lifted their price target on Global Net Lease from $9.00 to $10.00 and gave the stock a “market outperform” rating in a research note on Monday, January 12th. Cantor Fitzgerald upgraded Global Net Lease to a “strong-buy” rating in a research note on Wednesday. Citigroup reiterated an “outperform” rating on shares of Global Net Lease in a research report on Monday, January 12th. Finally, Wall Street Zen upgraded Global Net Lease from a “sell” rating to a “hold” rating in a report on Saturday, December 20th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, Global Net Lease has an average rating of “Buy” and an average target price of $9.83.

Global Net Lease Stock Performance

The company has a market capitalization of $2.11 billion, a price-to-earnings ratio of -6.73 and a beta of 1.13. The stock has a 50 day simple moving average of $8.80 and a 200 day simple moving average of $8.12. The company has a quick ratio of 0.15, a current ratio of 0.15 and a debt-to-equity ratio of 0.93.

Global Net Lease (NYSE:GNL) last posted its earnings results on Wednesday, November 5th. The financial services provider reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.03. Global Net Lease had a negative net margin of 48.52% and a negative return on equity of 10.27%. The firm had revenue of $121.01 million during the quarter, compared to analyst estimates of $118.86 million. As a group, analysts anticipate that Global Net Lease, Inc. will post 1.26 earnings per share for the current fiscal year.

Global Net Lease Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 16th. Investors of record on Monday, January 12th were issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 7.9%. The ex-dividend date of this dividend was Monday, January 12th. Global Net Lease’s dividend payout ratio is -53.15%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Eastern Bank bought a new position in Global Net Lease in the 3rd quarter valued at about $33,000. Aventura Private Wealth LLC bought a new position in shares of Global Net Lease in the fourth quarter valued at approximately $44,000. Northwestern Mutual Wealth Management Co. increased its stake in shares of Global Net Lease by 180.4% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 5,953 shares of the financial services provider’s stock valued at $45,000 after acquiring an additional 3,830 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in Global Net Lease by 31.4% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,913 shares of the financial services provider’s stock worth $51,000 after purchasing an additional 1,412 shares in the last quarter. Finally, AlphaQuest LLC acquired a new stake in Global Net Lease in the second quarter worth approximately $59,000. 61.19% of the stock is owned by institutional investors and hedge funds.

Global Net Lease Company Profile

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.