Global Net Lease, Inc. (NYSE:GNL) Given Average Recommendation of "Moderate Buy" by Analysts

Key Points

• Global Net Lease, Inc. (NYSE:GNL) has received a consensus recommendation of "Moderate Buy" from analysts, with a one-year target price averaging $9.25.
• Insiders, including Nicholas S. Schorsch and CEO Edward M. Jr. Weil, have sold significant shares recently, with Schorsch selling 300,000 shares for approximately $2.2 million and Weil selling 150,000 shares valued at about $1.14 million.
• The company declared a quarterly dividend of $0.19 per share, yielding 10.2%, despite a negative payout ratio of -51.35%.

Shares of Global Net Lease, Inc. (NYSE:GNL - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the five ratings firms that are currently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $9.25.

Several research analysts have commented on GNL shares. B. Riley began coverage on shares of Global Net Lease in a report on Tuesday, April 22nd. They issued a "neutral" rating and a $8.00 target price for the company. JMP Securities reiterated a "market outperform" rating and set a $9.00 price target on shares of Global Net Lease in a research note on Thursday, June 12th. Finally, Colliers Securities upgraded shares of Global Net Lease from a "neutral" rating to a "buy" rating and set a $12.00 price target for the company in a research note on Thursday.

Insider Buying and Selling

In other news, insider Nicholas S. Schorsch sold 300,000 shares of the stock in a transaction on Friday, June 13th. The stock was sold at an average price of $7.33, for a total transaction of $2,199,000.00. Following the sale, the insider directly owned 19,607,384 shares of the company's stock, valued at approximately $143,722,124.72. This represents a 1.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Edward M. Jr. Weil sold 150,000 shares of the firm's stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $7.61, for a total value of $1,141,500.00. Following the completion of the sale, the chief executive officer directly owned 584,053 shares in the company, valued at $4,444,643.33. This trade represents a 20.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 7,653,000 shares of company stock worth $56,914,790. Company insiders own 0.37% of the company's stock.

Hedge Funds Weigh In On Global Net Lease

A number of institutional investors have recently added to or reduced their stakes in the business. Conversant Capital LLC bought a new stake in shares of Global Net Lease in the first quarter worth $20,555,000. Taconic Capital Advisors LP purchased a new position in shares of Global Net Lease in the fourth quarter valued at about $7,300,000. Nuveen LLC purchased a new stake in shares of Global Net Lease in the first quarter worth about $6,207,000. JPMorgan Chase & Co. lifted its position in shares of Global Net Lease by 107.3% in the fourth quarter. JPMorgan Chase & Co. now owns 1,269,118 shares of the financial services provider's stock worth $9,265,000 after buying an additional 656,890 shares in the last quarter. Finally, Marshall Wace LLP purchased a new stake in Global Net Lease during the fourth quarter valued at approximately $4,021,000. 61.19% of the stock is currently owned by institutional investors.

Global Net Lease Trading Up 9.1%

Global Net Lease stock traded up $0.63 during trading hours on Thursday, hitting $7.48. The company had a trading volume of 3,258,748 shares, compared to its average volume of 1,792,925. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.11 and a current ratio of 0.11. The company has a 50-day moving average price of $7.40 and a two-hundred day moving average price of $7.51. Global Net Lease has a 1 year low of $6.51 and a 1 year high of $9.10. The firm has a market cap of $1.71 billion, a P/E ratio of -5.05 and a beta of 1.20.

Global Net Lease (NYSE:GNL - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The financial services provider reported $0.29 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.23 by $0.06. Global Net Lease had a negative net margin of 40.64% and a negative return on equity of 9.23%. The business had revenue of $132.42 million during the quarter, compared to analysts' expectations of $187.40 million. On average, sell-side analysts anticipate that Global Net Lease will post 1.26 earnings per share for the current year.

Global Net Lease Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 16th. Shareholders of record on Friday, July 11th were given a dividend of $0.19 per share. The ex-dividend date of this dividend was Friday, July 11th. This represents a $0.76 dividend on an annualized basis and a yield of 10.2%. Global Net Lease's dividend payout ratio is -51.35%.

Global Net Lease Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.