Global Net Lease (NYSE:GNL) Earns “Market Perform” Rating from JMP Securities

JMP Securities reiterated their market perform rating on shares of Global Net Lease (NYSE:GNL) in a research report released on Thursday, Benzinga reports.

Several other research firms also recently weighed in on GNL. BMO Capital Markets began coverage on Global Net Lease in a research note on Tuesday, February 13th. They issued an outperform rating and a $11.00 price objective for the company. BTIG Research downgraded Global Net Lease from a buy rating to a neutral rating in a research report on Friday, March 8th. Finally, Truist Financial began coverage on Global Net Lease in a research report on Thursday, March 28th. They set a hold rating and a $7.00 price target for the company. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus target price of $12.00.

Global Net Lease Stock Performance

NYSE GNL opened at $6.63 on Thursday. Global Net Lease has a 1-year low of $6.52 and a 1-year high of $11.58. The company has a market capitalization of $1.53 billion, a P/E ratio of -3.83, a PEG ratio of 0.85 and a beta of 1.34. The business has a 50 day moving average price of $7.46 and a 200 day moving average price of $8.36. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.05 and a quick ratio of 0.05.

Global Net Lease Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 16th. Stockholders of record on Thursday, April 11th were issued a dividend of $0.275 per share. This is a boost from Global Net Lease’s previous quarterly dividend of $0.06. The ex-dividend date was Wednesday, April 10th. This represents a $1.10 annualized dividend and a dividend yield of 16.60%. Global Net Lease’s dividend payout ratio (DPR) is -63.58%.

Insider Transactions at Global Net Lease

In other news, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, major shareholder Nicholas S. Schorsch sold 176,577 shares of Global Net Lease stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $9.04, for a total value of $1,596,256.08. Following the transaction, the insider now owns 4,078,465 shares in the company, valued at $36,869,323.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Nicholas S. Schorsch sold 4,837 shares of Global Net Lease stock in a transaction on Friday, January 26th. The shares were sold at an average price of $8.90, for a total value 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. Insiders have sold 201,414 shares of company stock worth $1,819,305 over the last quarter. 0.22% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GNL. Raymond James & Associates lifted its stake in shares of Global Net Lease by 11.8% during the first quarter. Raymond James & Associates now owns 74,749 shares of the financial services provider’s stock worth $1,176,000 after purchasing an additional 7,886 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Global Net Lease by 4.5% during the first quarter. Bank of New York Mellon Corp now owns 1,145,077 shares of the financial services provider’s stock worth $18,013,000 after purchasing an additional 48,896 shares in the last quarter. Bank of Montreal Can lifted its stake in shares of Global Net Lease by 5.3% during the first quarter. Bank of Montreal Can now owns 31,150 shares of the financial services provider’s stock worth $491,000 after purchasing an additional 1,581 shares in the last quarter. MetLife Investment Management LLC lifted its stake in shares of Global Net Lease by 57.8% during the first quarter. MetLife Investment Management LLC now owns 54,350 shares of the financial services provider’s stock worth $855,000 after purchasing an additional 19,899 shares in the last quarter. Finally, Rhumbline Advisers lifted its stake in shares of Global Net Lease by 1.6% during the first quarter. Rhumbline Advisers now owns 317,198 shares of the financial services provider’s stock worth $4,990,000 after purchasing an additional 5,102 shares in the last quarter. Institutional investors and hedge funds 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.