Global Net Lease (NYSE:GNL) Sets New 52-Week High – Here’s Why

Global Net Lease, Inc. (NYSE:GNL) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $10.01 and last traded at $9.8750, with a volume of 1792521 shares traded. The stock had previously closed at $9.96.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Citizens Jmp lifted their target price on shares of 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 raised Global Net Lease to a “strong-buy” rating in a research report on Wednesday, February 4th. Citigroup reissued an “outperform” rating on shares of Global Net Lease in a research note on Monday, January 12th. Finally, Wall Street Zen lowered Global Net Lease from a “hold” rating to a “sell” rating in a research report on Saturday, February 7th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Global Net Lease presently has a consensus rating of “Buy” and an average target price of $9.83.

Global Net Lease Trading Down 0.9%

The firm has a market cap of $2.16 billion, a price-to-earnings ratio of -6.91 and a beta of 1.13. The firm’s 50-day moving average is $8.93 and its 200-day moving average is $8.20. The company has a current ratio of 0.15, a quick ratio of 0.15 and a debt-to-equity ratio of 0.93.

Global Net Lease Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 16th. Investors of record on Monday, January 12th were given a $0.19 dividend. The ex-dividend date of this dividend was Monday, January 12th. This represents a $0.76 annualized dividend and a yield of 7.7%. Global Net Lease’s dividend payout ratio (DPR) is presently -53.15%.

Institutional Trading of Global Net Lease

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Lloyd Advisory Services LLC. purchased a new stake in shares of Global Net Lease in the fourth quarter worth approximately $28,000. Eastern Bank bought a new stake in Global Net Lease during the third quarter worth $33,000. Aventura Private Wealth LLC purchased a new stake in Global Net Lease in the 4th quarter valued at $44,000. Northwestern Mutual Wealth Management Co. raised its position in Global Net Lease by 147.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 5,517 shares of the financial services provider’s stock valued at $47,000 after buying an additional 3,283 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in Global Net Lease by 31.4% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,913 shares of the financial services provider’s stock valued at $51,000 after acquiring an additional 1,412 shares in the last quarter. 61.19% of the stock is owned by institutional investors.

About Global Net Lease

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.