Global Net Lease (NYSE:GNL) Stock Rated “Hold” in New Coverage at Huntington

Huntington initiated coverage on shares of Global Net Lease (NYSE:GNL) in a research note published on Wednesday morning,Zacks reports. The brokerage issued a hold rating on the financial services provider’s stock.

GNL has been the topic of several other reports. BMO Capital Markets upgraded Global Net Lease from a “market perform” rating to an “outperform” rating and set a $10.00 price target on the stock in a research report on Monday, August 17th. Citizens Jmp reiterated a “market outperform” rating and issued a $10.00 price target on shares of Global Net Lease in a report on Monday, August 31st. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $9.75.

Global Net Lease Stock Performance

NYSE GNL opened at $6.86 on Wednesday. Global Net Lease has a 1-year low of $6.81 and a 1-year high of $10.04. The stock has a 50-day moving average of $8.10 and a two-hundred day moving average of $9.00. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.16 and a quick ratio of 0.16. The company has a market cap of $1.45 billion, a P/E ratio of -25.39 and a beta of 1.09.

Global Net Lease (NYSE:GNL) last announced its quarterly earnings results on Wednesday, August 5th. The financial services provider reported ($0.05) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.05). Global Net Lease had a negative net margin of 2.94% and a negative return on equity of 1.00%. The business had revenue of $112.47 million during the quarter, compared to the consensus estimate of $109.68 million.

Global Net Lease Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 16th. Investors of record on Monday, October 12th were given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 11.1%. The ex-dividend date of this dividend was Friday, October 9th. Global Net Lease’s dividend payout ratio (DPR) is -271.43%.

Institutional Investors Weigh In On Global Net Lease

Institutional investors and hedge funds have recently made changes to their positions in the stock. ProShare Advisors LLC increased its holdings in shares of Global Net Lease by 5.5% during the 3rd quarter. ProShare Advisors LLC now owns 29,088 shares of the financial services provider’s stock worth $240,000 after buying an additional 1,518 shares during the last quarter. Krilogy Financial LLC grew its position in shares of Global Net Lease by 15.8% in the 3rd quarter. Krilogy Financial LLC now owns 12,457 shares of the financial services provider’s stock worth $97,000 after acquiring an additional 1,696 shares in the last quarter. Geneos Wealth Management Inc. lifted its stake in shares of Global Net Lease by 11.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 17,258 shares of the financial services provider’s stock worth $162,000 after acquiring an additional 1,821 shares during the period. QRG Capital Management Inc. boosted its position in Global Net Lease by 8.2% during the 2nd quarter. QRG Capital Management Inc. now owns 26,667 shares of the financial services provider’s stock worth $238,000 after acquiring an additional 2,025 shares during the period. Finally, Arrow Investment Advisors LLC grew its position in shares of Global Net Lease by 9.0% in the third quarter. Arrow Investment Advisors LLC now owns 26,687 shares of the financial services provider’s stock valued at $220,000 after purchasing an additional 2,209 shares during the last quarter. 61.19% of the stock is currently owned by institutional investors and hedge funds.

Global Net Lease Company Profile

Global Net Lease, Inc (NYSE:GNL) is a real estate investment trust that owns and manages a diversified portfolio of commercial properties subject to long-term, net leases. Under these arrangements, tenants generally pay property operating expenses such as taxes, insurance and maintenance, which can provide the company with relatively predictable rental income.

The company invests primarily in single-tenant office, industrial and retail properties leased to corporate and other commercial tenants.