Global Net Lease (NYSE:GNL) Hits New 12-Month Low at $6.83

Global Net Lease, Inc. (NYSE:GNL - Get Free Report) hit a new 52-week low during trading on Wednesday . The stock traded as low as $6.83 and last traded at $6.84, with a volume of 1528350 shares. The stock had previously closed at $7.36.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on GNL shares. Truist Financial started coverage on shares of Global Net Lease in a report on Thursday, March 28th. They issued a "hold" rating and a $7.00 price target on the stock. BTIG Research cut shares of Global Net Lease from a "buy" rating to a "neutral" rating in a report on Friday, March 8th. Finally, BMO Capital Markets started coverage on shares of Global Net Lease in a report on Tuesday, February 13th. They issued an "outperform" rating and a $11.00 price target on the stock. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $12.00.

Global Net Lease Trading Down 6.5 %

The stock has a market cap of $1.58 billion, a P/E ratio of -3.97, a PEG ratio of 0.97 and a beta of 1.34. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.66. The stock's fifty day moving average price is $7.64 and its 200 day moving average price is $8.48.

Global Net Lease Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 16th. Stockholders of record on Thursday, April 11th will be issued a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 16.03%. The ex-dividend date is Wednesday, April 10th. This is a boost from Global Net Lease's previous quarterly dividend of $0.06. Global Net Lease's payout ratio is -63.58%.

Insider Activity

In other news, major shareholder Nicholas S. Schorsch sold 150,000 shares of the business's stock in a transaction on Friday, January 19th. The shares were sold at an average price of $8.90, for a total transaction of $1,335,000.00. Following the sale, the insider now owns 4,255,042 shares in the company, valued at approximately $37,869,873.80. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, major shareholder Nicholas S. Schorsch sold 150,000 shares of the company's stock in a transaction dated Friday, January 19th. The shares were sold at an average price of $8.90, for a total value of $1,335,000.00. Following the transaction, the insider now owns 4,255,042 shares in the company, valued at approximately $37,869,873.80. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Nicholas S. Schorsch sold 4,837 shares of the company's stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $8.90, for a total transaction of $43,049.30. Following the completion of the transaction, the insider now owns 3,861,472 shares in the company, valued at approximately $34,367,100.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 351,414 shares of company stock worth $3,154,305. Corporate insiders own 0.22% of the company's stock.

Hedge Funds Weigh In On Global Net Lease

A number of hedge funds have recently bought and sold shares of GNL. Vanguard Group Inc. raised its position in Global Net Lease by 83.8% in the 3rd quarter. Vanguard Group Inc. now owns 30,770,077 shares of the financial services provider's stock worth $295,700,000 after buying an additional 14,033,117 shares during the last quarter. Citigroup Inc. increased its position in shares of Global Net Lease by 69.2% during the 3rd quarter. Citigroup Inc. now owns 160,515 shares of the financial services provider's stock valued at $1,543,000 after purchasing an additional 65,620 shares during the last quarter. Northern Trust Corp increased its position in shares of Global Net Lease by 83.8% during the 3rd quarter. Northern Trust Corp now owns 2,217,620 shares of the financial services provider's stock valued at $21,311,000 after purchasing an additional 1,011,160 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Global Net Lease by 93.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,497,508 shares of the financial services provider's stock valued at $33,611,000 after purchasing an additional 1,686,201 shares during the last quarter. Finally, Deutsche Bank AG increased its position in shares of Global Net Lease by 142.1% during the 3rd quarter. Deutsche Bank AG now owns 216,084 shares of the financial services provider's stock valued at $2,077,000 after purchasing an additional 126,837 shares during the last quarter. Institutional investors own 61.19% of the company's stock.

Global Net Lease Company Profile

Global Net Lease, Inc NYSE: GNL is a publicly traded real estate investment trust listed on the NYSE 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.