Global Net Lease (NYSE:GNL) Hits New 12-Month Low – Here’s Why

Global Net Lease, Inc. (NYSE:GNL) reached a new 52-week low during trading on Tuesday. The stock traded as low as $6.78 and last traded at $6.8650, with a volume of 86,556 shares trading hands. The stock had previously closed at $6.87.

Analysts Set New Price Targets

A number of brokerages have weighed in on GNL. Cantor Fitzgerald decreased their price objective on Global Net Lease from $11.00 to $9.00 and set an “overweight” rating on the stock in a report on Friday. Citizens Jmp reiterated a “market outperform” rating and issued a $10.00 target price on shares of Global Net Lease in a research report on Monday, August 31st. Huntington assumed coverage on shares of Global Net Lease in a research report on Wednesday, November 4th. They issued a “hold” rating for the company. Finally, BMO Capital Markets raised Global Net Lease from a “market perform” rating to an “outperform” rating and set a $10.00 price objective on the stock in a research note on Monday, August 17th. Four research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $9.75.

Global Net Lease Price Performance

The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.16 and a current ratio of 0.16. The stock’s 50-day moving average is $8.06 and its two-hundred day moving average is $8.99. The stock has a market cap of $1.44 billion, a PE ratio of -25.35 and a beta of 1.09.

Global Net Lease Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 16th. Shareholders of record on Monday, October 12th were given a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 11.1%. The ex-dividend date of this dividend was Friday, October 9th. Global Net Lease’s payout ratio is currently -281.48%.

Institutional Trading of Global Net Lease

A number of large investors have recently modified their holdings of GNL. ProShare Advisors LLC raised its holdings in shares of Global Net Lease by 5.5% in the third quarter. ProShare Advisors LLC now owns 29,088 shares of the financial services provider’s stock valued at $240,000 after buying an additional 1,518 shares during the last quarter. Krilogy Financial LLC grew its holdings in shares of Global Net Lease by 15.8% during the third quarter. Krilogy Financial LLC now owns 12,457 shares of the financial services provider’s stock worth $97,000 after buying an additional 1,696 shares during the last quarter. Bessemer Group Inc. grew its holdings in shares of Global Net Lease by 0.5% during the third quarter. Bessemer Group Inc. now owns 378,501 shares of the financial services provider’s stock worth $3,127,000 after buying an additional 1,794 shares during the last quarter. Geneos Wealth Management Inc. grew its holdings in shares of Global Net Lease by 11.8% during the first quarter. Geneos Wealth Management Inc. now owns 17,258 shares of the financial services provider’s stock worth $162,000 after buying an additional 1,821 shares during the last quarter. Finally, QRG Capital Management Inc. increased its position in Global Net Lease by 8.2% in the 2nd quarter. QRG Capital Management Inc. now owns 26,667 shares of the financial services provider’s stock valued at $238,000 after acquiring an additional 2,025 shares during the period. Hedge funds and other institutional investors own 61.19% of the company’s stock.

About Global Net Lease