Global Net Lease (NYSE:GNL) Given "Market Outperform" Rating at JMP Securities

JMP Securities reiterated their market outperform rating on shares of Global Net Lease (NYSE:GNL - Free Report) in a report published on Thursday,Benzinga reports. JMP Securities currently has a $9.00 price target 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 on the stock. Three equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Global Net Lease presently has an average rating of "Moderate Buy" and an average price target of $9.00.

Global Net Lease Stock Performance

Shares of NYSE:GNL traded down $0.13 during midday trading on Thursday, hitting $7.37. The company's stock had a trading volume of 2,654,976 shares, compared to its average volume of 1,563,918. The stock has a market capitalization of $1.69 billion, a price-to-earnings ratio of -7.84 and a beta of 1.22. The stock's 50 day simple moving average is $7.60 and its 200 day simple moving average is $7.49. Global Net Lease has a fifty-two week low of $6.51 and a fifty-two week high of $9.11. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.06 and a current ratio of 0.06.

Global Net Lease (NYSE:GNL - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The financial services provider reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.06. The company had revenue of $132.42 million for the quarter, compared to the consensus estimate of $187.40 million. Global Net Lease had a negative return on equity of 7.04% and a negative net margin of 21.37%. As a group, research analysts anticipate that Global Net Lease will post 1.26 earnings per share for the current year.

Global Net Lease Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 16th. Investors of record on Friday, April 11th were given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 10.31%. The ex-dividend date of this dividend was Friday, April 11th. Global Net Lease's dividend payout ratio (DPR) is presently -51.35%.

Insider Buying and Selling

In other Global Net Lease news, insider Nicholas S. Schorsch sold 300,000 shares of the firm's stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $7.33, for a total transaction of $2,199,000.00. Following the completion of the transaction, the insider now owns 19,607,384 shares in the company, valued at $143,722,124.72. This trade represents a 1.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold a total of 7,703,000 shares of company stock valued at $57,363,290 over the last three months. 0.37% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. lifted its stake in Global Net Lease by 2.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,171,758 shares of the financial services provider's stock worth $30,454,000 after purchasing an additional 112,908 shares during the period. Invesco Ltd. lifted its stake in Global Net Lease by 14.8% during the fourth quarter. Invesco Ltd. now owns 3,575,498 shares of the financial services provider's stock worth $26,101,000 after purchasing an additional 461,173 shares during the period. Helix Partners Management LP bought a new position in Global Net Lease during the fourth quarter worth about $24,455,000. Northern Trust Corp lifted its stake in Global Net Lease by 26.3% during the fourth quarter. Northern Trust Corp now owns 2,612,357 shares of the financial services provider's stock worth $19,070,000 after purchasing an additional 544,719 shares during the period. Finally, Conversant Capital LLC bought a new position in Global Net Lease during the first quarter worth about $20,555,000. Institutional investors own 61.19% of the company's stock.

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.