Zacks: Brokerages Set $24.00 Price Target for Global Net Lease Inc (GNL)
Global Net Lease Inc (NYSE:GNL) has earned an average broker rating score of 2.33 (Buy) from the three brokers that cover the stock, Zacks Investment Research reports. Two investment analysts have rated the stock with a hold recommendation and one has issued a strong buy recommendation on the company. Global Net Lease’s rating score has improved by 22.3% from three months ago as a result of various analysts’ upgrades and downgrades.
Analysts have set a 1-year consensus price target of $24.00 for the company and are forecasting that the company will post $0.50 EPS for the current quarter, according to Zacks. Zacks has also assigned Global Net Lease an industry rank of 163 out of 255 based on the ratings given to its competitors.
Several equities research analysts have recently weighed in on the company. JMP Securities assumed coverage on Global Net Lease in a research note on Tuesday, December 11th. They issued a “market perform” rating for the company. Zacks Investment Research cut Global Net Lease from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 15th. Finally, B. Riley raised Global Net Lease from a “neutral” rating to a “buy” rating and decreased their price target for the company from $25.00 to $24.00 in a research note on Friday, March 15th.
Hedge funds have recently modified their holdings of the company. New York State Teachers Retirement System increased its stake in shares of Global Net Lease by 2.4% in the fourth quarter. New York State Teachers Retirement System now owns 51,656 shares of the financial services provider’s stock valued at $910,000 after buying an additional 1,190 shares during the period. AXA acquired a new stake in Global Net Lease during the third quarter worth approximately $2,706,000. LPL Financial LLC grew its stake in Global Net Lease by 116.3% during the third quarter. LPL Financial LLC now owns 219,660 shares of the financial services provider’s stock worth $4,580,000 after purchasing an additional 118,095 shares during the period. Macquarie Group Ltd. grew its stake in Global Net Lease by 41.2% during the third quarter. Macquarie Group Ltd. now owns 28,800 shares of the financial services provider’s stock worth $600,000 after purchasing an additional 8,400 shares during the period. Finally, Vanguard Group Inc grew its stake in Global Net Lease by 4.7% during the third quarter. Vanguard Group Inc now owns 10,610,202 shares of the financial services provider’s stock worth $221,223,000 after purchasing an additional 471,874 shares during the period. 57.37% of the stock is owned by institutional investors.
Global Net Lease stock traded up $0.05 during trading hours on Friday, hitting $18.98. The stock had a trading volume of 3,729 shares, compared to its average volume of 852,402. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $1.59 billion, a PE ratio of 8.86 and a beta of 0.69. Global Net Lease has a one year low of $16.52 and a one year high of $22.53.
The business also recently declared a monthly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 8th were paid a $0.1775 dividend. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $2.13 annualized dividend and a dividend yield of 11.22%. Global Net Lease’s payout ratio is 99.53%.
Global Net Lease Company Profile
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.
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