JMP Securities restated their market outperform rating on shares of Global Net Lease (NYSE:GNL - Free Report) in a research report sent to investors on Thursday,Benzinga reports. They currently have a $9.00 price objective on the financial services provider's stock.
Separately, B. Riley began coverage on Global Net Lease in a research report on Tuesday, April 22nd. They set a "neutral" rating and a $8.00 target price for the company. Three 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 stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $9.00.
Check Out Our Latest Research Report on GNL
Global Net Lease Price Performance
Global Net Lease stock traded down $0.19 during midday trading on Thursday, hitting $7.49. 4,450,219 shares of the company's stock were exchanged, compared to its average volume of 1,556,421. Global Net Lease has a 52-week low of $6.51 and a 52-week high of $9.11. The stock has a 50-day moving average price of $7.59 and a two-hundred day moving average price of $7.49. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.06 and a current ratio of 0.06. The company has a market cap of $1.71 billion, a P/E ratio of -7.97 and a beta of 1.22.
Global Net Lease (NYSE:GNL - Get Free Report) last posted its earnings results on Wednesday, May 7th. The financial services provider reported $0.29 EPS for the quarter, topping the consensus estimate of $0.23 by $0.06. Global Net Lease had a negative return on equity of 7.04% and a negative net margin of 21.37%. The business had revenue of $132.42 million during the quarter, compared to analysts' expectations of $187.40 million. On average, equities research analysts forecast that Global Net Lease will post 1.26 earnings per share for the current year.
Global Net Lease Cuts Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 16th. Stockholders of record on Friday, April 11th were issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 10.15%. The ex-dividend date of this dividend was Friday, April 11th. Global Net Lease's payout ratio is currently -51.35%.
Insider Transactions at Global Net Lease
In other news, major shareholder Nicholas S. Schorsch sold 100,000 shares of the company's stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $7.99, for a total value of $799,000.00. Following the completion of the transaction, the insider now directly owns 1,529,073 shares in the company, valued at approximately $12,217,293.27. This represents a 6.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.37% of the company's stock.
Institutional Investors Weigh In On Global Net Lease
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Strs Ohio bought a new stake in shares of Global Net Lease in the 1st quarter valued at about $302,000. Intech Investment Management LLC lifted its stake in shares of Global Net Lease by 15.8% in the 1st quarter. Intech Investment Management LLC now owns 156,334 shares of the financial services provider's stock valued at $1,257,000 after acquiring an additional 21,372 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Global Net Lease by 10.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,109,971 shares of the financial services provider's stock valued at $8,924,000 after acquiring an additional 102,173 shares during the last quarter. United Services Automobile Association bought a new stake in shares of Global Net Lease in the 1st quarter valued at about $94,000. Finally, Arete Wealth Advisors LLC lifted its stake in shares of Global Net Lease by 24.4% in the 1st quarter. Arete Wealth Advisors LLC now owns 336,680 shares of the financial services provider's stock valued at $2,707,000 after acquiring an additional 65,969 shares during the last quarter. Institutional investors own 61.19% of the company's stock.
Global Net Lease Company Profile
(
Get Free Report)
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.
Recommended Stories
Before you consider Global Net Lease, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Global Net Lease wasn't on the list.
While Global Net Lease currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Enter your email address and we'll send you MarketBeat's list of seven stocks and why their long-term outlooks are very promising.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
