Brokerages Set Global Net Lease, Inc. (NYSE:GNL) PT at $9.20

Shares of Global Net Lease, Inc. (NYSE:GNL) have earned a consensus recommendation of “Moderate Buy” from the six ratings firms that are presently covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $9.20.

Several research analysts recently weighed in on the company. Colliers Securities raised Global Net Lease from a “neutral” rating to a “buy” rating and set a $12.00 target price for the company in a research note on Thursday, August 7th. KeyCorp raised Global Net Lease from a “sector weight” rating to an “overweight” rating and set a $9.00 target price for the company in a research note on Tuesday, August 19th. Wall Street Zen raised Global Net Lease from a “sell” rating to a “hold” rating in a research note on Friday, August 22nd. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $9.00 target price on shares of Global Net Lease in a research note on Thursday, June 12th.

Insider Buying and Selling at Global Net Lease

In related news, CEO Edward M. Jr. Weil sold 150,000 shares of the stock in a transaction on Thursday, July 10th. The stock was sold at an average price of $7.61, for a total value of $1,141,500.00. Following the completion of the transaction, the chief executive officer owned 584,053 shares in the company, valued at $4,444,643.33. This trade represents a 20.43% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.37% of the stock is owned by company insiders.

Hedge Funds Weigh In On Global Net Lease

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Allworth Financial LP boosted its position in shares of Global Net Lease by 15.8% in the 1st quarter. Allworth Financial LP now owns 11,940 shares of the financial services provider’s stock valued at $89,000 after purchasing an additional 1,626 shares during the period. Harbour Investments Inc. boosted its position in shares of Global Net Lease by 4.4% in the 1st quarter. Harbour Investments Inc. now owns 40,616 shares of the financial services provider’s stock valued at $327,000 after purchasing an additional 1,723 shares during the period. The Manufacturers Life Insurance Company boosted its position in shares of Global Net Lease by 1.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 154,190 shares of the financial services provider’s stock valued at $1,164,000 after purchasing an additional 1,784 shares during the period. Arrow Investment Advisors LLC boosted its position in shares of Global Net Lease by 9.1% in the 2nd quarter. Arrow Investment Advisors LLC now owns 22,957 shares of the financial services provider’s stock valued at $173,000 after purchasing an additional 1,918 shares during the period. Finally, GAMMA Investing LLC boosted its position in shares of Global Net Lease by 100.6% in the 2nd quarter. GAMMA Investing LLC now owns 5,487 shares of the financial services provider’s stock valued at $41,000 after purchasing an additional 2,752 shares during the period. Institutional investors and hedge funds own 61.19% of the company’s stock.

Global Net Lease Trading Down 0.8%

Shares of GNL stock opened at $8.13 on Friday. The stock has a 50-day simple moving average of $7.75 and a 200 day simple moving average of $7.64. Global Net Lease has a fifty-two week low of $6.51 and a fifty-two week high of $8.71. The stock has a market capitalization of $1.80 billion, a P/E ratio of -5.64 and a beta of 1.20. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.90.

Global Net Lease (NYSE:GNL) last announced its earnings results on Wednesday, August 6th. The financial services provider reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.04. Global Net Lease had a negative return on equity of 9.71% and a negative net margin of 43.75%.The business had revenue of $124.91 million during the quarter, compared to analysts’ expectations of $138.38 million. On average, sell-side analysts expect that Global Net Lease will post 1.26 earnings per share for the current fiscal year.

Global Net Lease Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 16th. Investors of record on Monday, October 13th will be given a $0.19 dividend. The ex-dividend date is Friday, October 10th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 9.4%. Global Net Lease’s dividend payout ratio (DPR) is -52.78%.

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.