Global Net Lease (NYSE:GNL) Upgraded at StockNews.com

StockNews.com upgraded shares of Global Net Lease (NYSE:GNL) from a sell rating to a hold rating in a research report sent to investors on Thursday morning.

GNL has been the topic of several other reports. BMO Capital Markets reiterated an outperform rating and issued a $11.00 target price on shares of Global Net Lease in a research note on Friday, June 28th. JMP Securities restated a market perform rating on shares of Global Net Lease in a research note on Wednesday, June 12th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the company has a consensus rating of Hold and an average price target of $11.00.

Global Net Lease Stock Performance

Shares of GNL stock traded down $0.11 during midday trading on Thursday, hitting $8.06. The company had a trading volume of 3,511,882 shares, compared to its average volume of 1,553,377. The company’s 50 day simple moving average is $7.82 and its 200 day simple moving average is $7.64. Global Net Lease has a 52-week low of $6.52 and a 52-week high of $11.58. The stock has a market cap of $1.86 billion, a price-to-earnings ratio of -4.43, a PEG ratio of 1.11 and a beta of 1.37. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.05 and a quick ratio of 0.05.

Global Net Lease (NYSE:GNL) last announced its earnings results on Tuesday, August 6th. The financial services provider reported ($0.20) earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.52). Global Net Lease had a negative net margin of 37.46% and a negative return on equity of 10.08%. The company had revenue of $203.29 million during the quarter, compared to analysts’ expectations of $204.80 million. During the same quarter last year, the business posted $0.40 earnings per share. Research analysts anticipate that Global Net Lease will post 1.29 earnings per share for the current fiscal year.

Global Net Lease Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 16th. Investors of record on Thursday, July 11th were paid a $0.275 dividend. The ex-dividend date was Thursday, July 11th. This is an increase from Global Net Lease’s previous quarterly dividend of $0.06. This represents a $1.10 dividend on an annualized basis and a dividend yield of 13.65%. Global Net Lease’s payout ratio is -60.44%.

Insider Activity at Global Net Lease

In related news, major shareholder Nicholas S. Schorsch sold 200,000 shares of Global Net Lease stock in a transaction 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 transaction, 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 legal filing with the SEC, which is accessible through the SEC website. In related news, major shareholder Nicholas S. Schorsch sold 200,000 shares of Global Net Lease stock in a transaction 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 transaction, 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 legal filing with the SEC, which is accessible through the SEC website. Also, major shareholder Nicholas S. Schorsch sold 433,350 shares of Global Net Lease stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $7.19, for a total value of $3,115,786.50. Following the transaction, the insider now directly owns 2,679,073 shares of the company’s stock, valued at $19,262,534.87. The disclosure for this sale can be found here. Insiders have sold a total of 1,043,070 shares of company stock worth $7,497,437 over the last three months. 0.31% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Global Net Lease

Several hedge funds and other institutional investors have recently bought and sold shares of GNL. Corient Private Wealth LLC raised 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 last quarter. Mirae Asset Global Investments Co. Ltd. raised 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 last quarter. Vanguard Group Inc. raised its holdings in shares of 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 acquiring an additional 3,162,310 shares during the last quarter. CastleKnight Management LP increased its stake in Global Net Lease by 59.2% in the fourth quarter. CastleKnight Management LP now owns 1,164,081 shares of the financial services provider’s stock valued at $11,583,000 after purchasing an additional 432,729 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. increased its stake in Global Net Lease by 1.4% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 219,851 shares of the financial services provider’s stock valued at $2,188,000 after purchasing an additional 3,044 shares during the last quarter. 61.19% of the stock is owned by institutional investors and hedge funds.

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.