Global Net Lease (NYSE:GNL) Hits New 1-Year Low at $6.52

Shares of Global Net Lease, Inc. (NYSE:GNL - Get Free Report) reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $6.52 and last traded at $6.55, with a volume of 230074 shares trading hands. The stock had previously closed at $6.73.

Wall Street Analysts Forecast Growth

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

Global Net Lease Trading Down 2.5 %

The stock has a market capitalization of $1.51 billion, a P/E ratio of -3.79, a PEG ratio of 0.87 and a beta of 1.34. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.05 and a quick ratio of 0.05. The business's 50 day simple moving average is $7.52 and its 200-day simple moving average is $8.39.

Global Net Lease Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 16th. Shareholders of record on Thursday, April 11th will be paid a $0.275 dividend. The ex-dividend date of this dividend is Wednesday, April 10th. This is a boost from Global Net Lease's previous quarterly dividend of $0.06. This represents a $1.10 dividend on an annualized basis and a yield of 16.77%. Global Net Lease's dividend payout ratio (DPR) is presently -63.58%.

Insider Transactions at Global Net Lease

In other news, major shareholder Nicholas S. Schorsch sold 150,000 shares of Global Net Lease 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 transaction, the insider now directly owns 4,255,042 shares of the company's stock, valued at $37,869,873.80. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, major shareholder Nicholas S. Schorsch sold 150,000 shares of the firm'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 directly owns 4,255,042 shares in the company, valued at $37,869,873.80. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Nicholas S. Schorsch sold 176,577 shares of the firm's stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $9.04, for a total transaction of $1,596,256.08. Following the sale, the insider now owns 4,078,465 shares in the company, valued at $36,869,323.60. The disclosure for this sale can be found here. Insiders have sold a total of 351,414 shares of company stock valued at $3,154,305 over the last three months. 0.22% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Global Net Lease

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake 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 valued at $295,700,000 after buying an additional 14,033,117 shares during the last quarter. Hsbc Holdings PLC increased its stake in Global Net Lease by 8,487.0% in the 3rd quarter. Hsbc Holdings PLC now owns 4,832,588 shares of the financial services provider's stock valued at $46,536,000 after buying an additional 4,776,310 shares during the last quarter. Corient Private Wealth LLC increased its stake in Global Net Lease by 3,410.4% in the 4th quarter. Corient Private Wealth LLC now owns 2,688,951 shares of the financial services provider's stock valued at $26,755,000 after buying an additional 2,612,351 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in Global Net Lease by 80.3% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,991,844 shares of the financial services provider's stock valued at $38,362,000 after buying an additional 1,778,131 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Global Net Lease by 93.1% in 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 acquiring an additional 1,686,201 shares during the period. 61.19% of the stock is currently owned by institutional investors and hedge funds.

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.