According to Zacks, “Global Net Lease, Inc. is a real estate investment trust which focused on sale-leaseback properties primarily in the United States and Europe. Global Net Lease, Inc. is based in New York, United States. “
A number of other brokerages have also recently weighed in on GNL. Aegis assumed coverage on shares of Global Net Lease in a research report on Thursday, October 31st. They set a buy rating and a $21.50 price target for the company. ValuEngine cut shares of Global Net Lease from a buy rating to a hold rating in a research report on Tuesday, December 3rd. Finally, DA Davidson assumed coverage on shares of Global Net Lease in a research report on Thursday, September 26th. They set a neutral rating and a $22.00 price target for the company. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Global Net Lease has an average rating of Hold and an average target price of $22.50.
Global Net Lease (NYSE:GNL) last issued its quarterly earnings results on Friday, November 8th. The financial services provider reported $0.08 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.48 by ($0.40). Global Net Lease had a return on equity of 1.91% and a net margin of 9.73%. The business had revenue of $77.94 million for the quarter, compared to analyst estimates of $78.18 million. On average, analysts predict that Global Net Lease will post 1.77 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Monday, January 13th were paid a $0.533 dividend. The ex-dividend date of this dividend was Friday, January 10th. This represents a $2.13 dividend on an annualized basis and a dividend yield of 10.42%. Global Net Lease’s dividend payout ratio (DPR) is presently 99.53%.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in Global Net Lease by 7.0% in the 2nd quarter. Vanguard Group Inc. now owns 13,130,041 shares of the financial services provider’s stock valued at $257,612,000 after buying an additional 862,957 shares during the last quarter. Invesco Ltd. lifted its position in Global Net Lease by 61.2% during the second quarter. Invesco Ltd. now owns 1,911,743 shares of the financial services provider’s stock valued at $37,509,000 after purchasing an additional 725,873 shares in the last quarter. Nuveen Asset Management LLC bought a new stake in Global Net Lease during the second quarter valued at about $13,190,000. BlackRock Inc. grew its holdings in Global Net Lease by 2.1% during the second quarter. BlackRock Inc. now owns 13,360,720 shares of the financial services provider’s stock valued at $262,137,000 after purchasing an additional 280,266 shares during the period. Finally, Morgan Stanley increased its position in Global Net Lease by 188.5% in the second quarter. Morgan Stanley now owns 385,945 shares of the financial services provider’s stock worth $7,572,000 after buying an additional 252,186 shares in the last quarter. Institutional investors and hedge funds own 64.91% 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 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.
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