Global Net Lease (NYSE:GNL) Trading Up 4.6% Following Analyst Upgrade

Key Points

• Shares of Global Net Lease (NYSE:GNL) increased by 4.6% following an upgrade from KeyCorp, which raised its rating to overweight with a price target of $9.00.
• Insider Nicholas S. Schorsch sold over 7 million shares of the company, representing a 26.30% decrease in his ownership as of June 12th.
• The company reported $0.24 earnings per share for the last quarter, beating expectations and noted a dividend yield of 9.8%, with a recent quarterly payout of $0.19.

Global Net Lease, Inc. (NYSE:GNL - Get Free Report) shares shot up 4.6% during mid-day trading on Tuesday after Wall Street Zen upgraded the stock from a sell rating to a hold rating. The company traded as high as $7.83 and last traded at $7.83. 438,292 shares changed hands during trading, a decline of 75% from the average session volume of 1,773,316 shares. The stock had previously closed at $7.48.

A number of other analysts also recently weighed in on GNL. KeyCorp raised shares of Global Net Lease from a "sector weight" rating to an "overweight" rating and set a $9.00 price target for the company in a research report on Tuesday, August 19th. Colliers Securities raised 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 report on Thursday, August 7th. Finally, JMP Securities reissued a "market outperform" rating and set a $9.00 price target on shares of Global Net Lease in a research report on Thursday, June 12th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $9.20.

Insider Activity

In related news, CEO Edward M. Jr. Weil sold 150,000 shares of the stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $7.61, for a total transaction of $1,141,500.00. Following the sale, the chief executive officer owned 584,053 shares in the company, valued at $4,444,643.33. This represents a 20.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Nicholas S. Schorsch sold 300,000 shares of the firm's stock in a transaction on Friday, June 13th. The shares were sold at an average price of $7.33, for a total value of $2,199,000.00. Following the completion of the sale, the insider owned 19,607,384 shares in the company, valued at $143,722,124.72. The trade was a 1.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 7,553,000 shares of company stock worth $56,115,790. 0.37% of the stock is owned by company insiders.

Institutional Investors Weigh In On Global Net Lease

Several institutional investors have recently bought and sold shares of the stock. TT Capital Management LLC acquired a new stake in Global Net Lease in the second quarter worth about $77,000. State of Wyoming acquired a new stake in Global Net Lease in the second quarter worth about $104,000. Caxton Associates LLP acquired a new stake in Global Net Lease in the second quarter worth about $374,000. Public Sector Pension Investment Board lifted its holdings in Global Net Lease by 4.1% in the second quarter. Public Sector Pension Investment Board now owns 653,509 shares of the financial services provider's stock worth $4,934,000 after purchasing an additional 25,459 shares during the period. Finally, CANADA LIFE ASSURANCE Co lifted its holdings in Global Net Lease by 2.7% in the second quarter. CANADA LIFE ASSURANCE Co now owns 438,987 shares of the financial services provider's stock worth $3,317,000 after purchasing an additional 11,463 shares during the period. Institutional investors and hedge funds own 61.19% of the company's stock.

Global Net Lease Stock Up 1.1%

The firm has a market cap of $1.73 billion, a price-to-earnings ratio of -5.45 and a beta of 1.20. The firm's fifty day moving average is $7.39 and its two-hundred day moving average is $7.54. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.13 and a quick ratio of 0.13.

Global Net Lease (NYSE:GNL - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The financial services provider reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.04. The business had revenue of $124.91 million during the quarter, compared to the consensus estimate of $138.38 million. Global Net Lease had a negative net margin of 43.75% and a negative return on equity of 9.71%. On average, sell-side analysts expect that Global Net Lease, Inc. will post 1.26 EPS for the current fiscal year.

Global Net Lease Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 16th. Shareholders of record on Friday, July 11th were given a $0.19 dividend. The ex-dividend date was Friday, July 11th. This represents a $0.76 annualized dividend and a yield of 9.7%. Global Net Lease's payout ratio is -52.78%.

About Global Net Lease

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.