Global Net Lease, Inc. (NYSE:GNL) Stock Has Average Target Price of $9.75 According to Brokerages

Key Points

• Analyst sentiment is moderately bullish: Four of five covering analysts rate Global Net Lease a buy, versus one hold, with an average 12-month price target of $9.75.
• Shares were under pressure: GNL was reported down 3.6% and opened at $6.86, near its 52-week low of $6.81.
• Quarterly results met EPS expectations and topped revenue forecasts: The company reported a $0.05-per-share loss, matching consensus, and revenue of $112.47 million versus a $109.68 million estimate. It also paid a quarterly dividend of $0.19 per share, equivalent to an annualized yield of 11.1%.

Shares of Global Net Lease, Inc. (NYSE:GNL - Get Free Report) have earned a consensus rating of "Moderate Buy" from the five analysts that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a hold rating and four have issued a buy rating on the company. The average 12-month target price among analysts that have covered the stock in the last year is $9.75.

A number of research analysts recently commented on GNL shares. BMO Capital Markets upgraded Global Net Lease from a "market perform" rating to an "outperform" rating and set a $10.00 price objective for the company in a research note on Monday, August 17th. Cantor Fitzgerald dropped their target price on Global Net Lease from $11.00 to $9.00 and set an "overweight" rating on the stock in a research report on Friday. Citizens Jmp reiterated a "market outperform" rating and issued a $10.00 target price on shares of Global Net Lease in a research note on Monday, August 31st. Finally, Huntington began coverage on Global Net Lease in a research note on Wednesday. They issued a "hold" rating on the stock.

Global Net Lease Stock Down 3.6%

NYSE:GNL opened at $6.86 on Friday. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 1.13. The stock has a 50 day moving average of $8.10 and a 200-day moving average of $9.00. The firm has a market capitalization of $1.45 billion, a PE ratio of -25.39 and a beta of 1.09. Global Net Lease has a 52 week low of $6.81 and a 52 week high of $10.04.

Global Net Lease (NYSE:GNL - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The financial services provider reported ($0.05) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.05). Global Net Lease had a negative return on equity of 0.81% and a negative net margin of 2.28%. The business had revenue of $112.47 million for the quarter, compared to the consensus estimate of $109.68 million.

Global Net Lease Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 16th. Investors of record on Monday, October 12th were issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 11.1%. The ex-dividend date of this dividend was Friday, October 9th. Global Net Lease's dividend payout ratio (DPR) is -281.48%.

Institutional Trading of Global Net Lease

Several hedge funds have recently bought and sold shares of the company. Heritage Family Offices LLP acquired a new position in Global Net Lease during the 3rd quarter valued at about $34,000. Integrated Wealth Concepts LLC bought a new position in Global Net Lease in the 2nd quarter worth about $51,000. Parallel Advisors LLC grew its position in Global Net Lease by 74.9% in the 1st quarter. Parallel Advisors LLC now owns 8,746 shares of the financial services provider's stock worth $82,000 after purchasing an additional 3,746 shares during the last quarter. Ethic Inc. bought a new position in Global Net Lease in the 3rd quarter worth about $89,000. Finally, Krilogy Financial LLC increased its stake in shares of Global Net Lease by 15.8% in the third quarter. Krilogy Financial LLC now owns 12,457 shares of the financial services provider's stock valued at $97,000 after purchasing an additional 1,696 shares during the period. 61.19% of the stock is currently owned by institutional investors.

Global Net Lease Company Profile

Global Net Lease, Inc NYSE: GNL is a real estate investment trust that owns and manages a diversified portfolio of commercial properties subject to long-term, net leases. Under these arrangements, tenants generally pay property operating expenses such as taxes, insurance and maintenance, which can provide the company with relatively predictable rental income.

The company invests primarily in single-tenant office, industrial and retail properties leased to corporate and other commercial tenants.

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