Global Net Lease (GNL) Hits New 12-Month Low at $19.21
Global Net Lease Inc (NYSE:GNL) shares reached a new 52-week low on Tuesday . The stock traded as low as $19.21 and last traded at $19.32, with a volume of 386600 shares traded. The stock had previously closed at $19.55.
Several research analysts have recently weighed in on GNL shares. FBR & Co reissued a “hold” rating on shares of Global Net Lease in a research report on Tuesday, October 10th. Zacks Investment Research raised shares of Global Net Lease from a “sell” rating to a “hold” rating in a research report on Tuesday, January 9th. Finally, B. Riley reissued a “neutral” rating and issued a $26.00 target price on shares of Global Net Lease in a research report on Tuesday, November 7th.
The company has a market cap of $1,299.98, a PE ratio of 39.16 and a beta of 0.68. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 0.30.
Global Net Lease (NYSE:GNL) last announced its quarterly earnings data on Monday, November 6th. The financial services provider reported $0.03 EPS for the quarter, missing the Zacks’ consensus estimate of $0.52 by ($0.49). Global Net Lease had a net margin of 12.65% and a return on equity of 2.29%. equities research analysts expect that Global Net Lease Inc will post 2.02 EPS for the current fiscal year.
The business also recently disclosed a monthly dividend, which will be paid on Thursday, February 15th. Investors of record on Thursday, February 8th will be given a dividend of $0.1775 per share. This represents a $2.13 dividend on an annualized basis and a yield of 11.10%. The ex-dividend date is Wednesday, February 7th. Global Net Lease’s payout ratio is presently 434.68%.
In related news, CEO James Larry Nelson acquired 2,000 shares of the stock in a transaction that occurred on Monday, November 20th. The shares were purchased at an average cost of $21.48 per share, with a total value of $42,960.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.19% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in Global Net Lease by 3.4% during the second quarter. Vanguard Group Inc. now owns 10,331,374 shares of the financial services provider’s stock valued at $229,770,000 after purchasing an additional 341,621 shares in the last quarter. BlackRock Inc. grew its position in Global Net Lease by 4.1% during the second quarter. BlackRock Inc. now owns 5,290,884 shares of the financial services provider’s stock valued at $117,670,000 after purchasing an additional 206,552 shares in the last quarter. State Street Corp grew its position in Global Net Lease by 10.8% during the second quarter. State Street Corp now owns 1,532,357 shares of the financial services provider’s stock valued at $34,080,000 after purchasing an additional 149,708 shares in the last quarter. Northern Trust Corp grew its position in Global Net Lease by 9.7% during the second quarter. Northern Trust Corp now owns 1,118,646 shares of the financial services provider’s stock valued at $24,879,000 after purchasing an additional 98,929 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Global Net Lease by 13.4% during the third quarter. Dimensional Fund Advisors LP now owns 698,820 shares of the financial services provider’s stock valued at $15,297,000 after purchasing an additional 82,637 shares in the last quarter. 44.28% of the stock is currently owned by hedge funds and other institutional investors.
About Global Net Lease
Global Net Lease, Inc is a real estate investment trust. The Company’s business consists of owning, managing, operating, leasing, acquiring, investing in and disposing of real estate assets. It owns and invests in commercial properties principally in the United States, the United Kingdom and continental Europe that are then leased to companies.
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