Global Net Lease (NYSE:GNL) Shares Gap Down - Here's What Happened

Key Points

• Global Net Lease (NYSE:GNL) shares gapped down Monday, opening at $9.10 after a $9.53 close and last trading at $9.1650, down about 3.8% on roughly 201,819 shares traded.
• Analyst coverage is mixed but leans positive: one Strong Buy, four Buy and one Hold give an average rating of Buy with a consensus target price of $10.40.
• The company recently paid a quarterly dividend of $0.19 (annualized $0.76), implying a yield of 8.3%, while its reported dividend payout ratio is -63.87%.

Global Net Lease, Inc. (NYSE:GNL - Get Free Report)'s share price gapped down prior to trading on Monday . The stock had previously closed at $9.53, but opened at $9.10. Global Net Lease shares last traded at $9.1650, with a volume of 201,819 shares trading hands.

Analyst Ratings Changes

A number of research analysts have issued reports on GNL shares. Wall Street Zen cut Global Net Lease from a "buy" rating to a "hold" rating in a research report on Saturday, March 28th. Cantor Fitzgerald upgraded Global Net Lease to a "strong-buy" rating in a research report on Wednesday, February 4th. Citigroup reiterated an "outperform" rating on shares of Global Net Lease in a research report on Monday, January 12th. BMO Capital Markets cut Global Net Lease from an "outperform" rating to a "market perform" rating and set a $10.00 target price on the stock. in a research report on Friday, April 17th. Finally, Citizens Jmp lifted their target price on Global Net Lease from $9.00 to $10.00 and gave the company a "market outperform" rating in a research report on Monday, January 12th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, Global Net Lease currently has an average rating of "Buy" and a consensus target price of $10.40.

Global Net Lease Stock Down 3.8%

The stock has a 50 day moving average price of $9.47 and a 200 day moving average price of $8.89. The stock has a market capitalization of $1.95 billion, a price-to-earnings ratio of -7.70 and a beta of 1.03. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.19.

Global Net Lease Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 17th. Stockholders of record on Monday, April 13th were paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 8.3%. The ex-dividend date of this dividend was Monday, April 13th. Global Net Lease's dividend payout ratio (DPR) is presently -63.87%.

Institutional Trading of Global Net Lease

A number of hedge funds have recently made changes to their positions in GNL. Royal Bank of Canada boosted its stake in shares of Global Net Lease by 60.7% during the first quarter. Royal Bank of Canada now owns 72,424 shares of the financial services provider's stock valued at $582,000 after purchasing an additional 27,352 shares in the last quarter. Amundi boosted its stake in shares of Global Net Lease by 12.3% during the first quarter. Amundi now owns 118,450 shares of the financial services provider's stock valued at $924,000 after purchasing an additional 12,947 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of Global Net Lease by 95.7% during the first quarter. AQR Capital Management LLC now owns 46,800 shares of the financial services provider's stock valued at $376,000 after purchasing an additional 22,885 shares in the last quarter. Jones Financial Companies Lllp acquired a new position in shares of Global Net Lease in the first quarter worth approximately $296,000. Finally, United Services Automobile Association acquired a new position in shares of Global Net Lease in the first quarter worth approximately $94,000. 61.19% of the stock is owned by institutional investors and hedge funds.

Global Net Lease Company Profile

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.

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