Global Net Lease, Inc. (NYSE:GNL) Stock Has Consensus Target Price of $9.75 According to Analysts

Shares of Global Net Lease, Inc. (NYSE:GNL) have been assigned an average rating of “Moderate Buy” from the five research firms that are currently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $9.75.

A number of research analysts have recently commented on the company. Cantor Fitzgerald lowered their price target 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 reaffirmed a “market outperform” rating and issued a $10.00 price objective on shares of Global Net Lease in a report on Monday, August 31st. Huntington initiated coverage on shares of Global Net Lease in a research report on Wednesday. They issued a “hold” rating for the company. Finally, BMO Capital Markets raised shares of Global Net Lease from a “market perform” rating to an “outperform” rating and set a $10.00 target price on the stock in a research note on Monday, August 17th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in GNL. Private Management Group Inc. raised its holdings in shares of Global Net Lease by 56.3% during the third quarter. Private Management Group Inc. now owns 5,115,564 shares of the financial services provider’s stock worth $42,255,000 after acquiring an additional 1,843,181 shares in the last quarter. Bank of New York Mellon Corp acquired a new stake in Global Net Lease during the second quarter valued at $11,232,000. Renaissance Technologies LLC grew its stake in Global Net Lease by 158.9% in the first quarter. Renaissance Technologies LLC now owns 1,366,133 shares of the financial services provider’s stock valued at $12,787,000 after purchasing an additional 838,500 shares in the last quarter. First Trust Advisors LP grew its stake in Global Net Lease by 282.7% in the first quarter. First Trust Advisors LP now owns 614,335 shares of the financial services provider’s stock valued at $5,750,000 after purchasing an additional 453,808 shares in the last quarter. Finally, North Star Investment Management Corp. grew its stake in Global Net Lease by 180.5% in the third quarter. North Star Investment Management Corp. now owns 422,151 shares of the financial services provider’s stock valued at $3,487,000 after purchasing an additional 271,670 shares in the last quarter. 61.19% of the stock is currently owned by institutional investors.

Global Net Lease Stock Down 3.6%

Shares of Global Net Lease stock opened at $6.86 on Friday. The business’s fifty day moving average price is $8.10 and its two-hundred day moving average price is $9.00. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.16 and a quick ratio of 0.16. The company has a market capitalization of $1.45 billion, a P/E ratio of -25.39 and a beta of 1.09. Global Net Lease has a 1-year low of $6.81 and a 1-year high of $10.04.

Global Net Lease (NYSE:GNL) last released its quarterly earnings results on Wednesday, August 5th. The financial services provider reported ($0.05) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.05). Global Net Lease had a negative return on equity of 0.81% and a negative net margin of 2.28%. The company had revenue of $112.47 million during the quarter, compared to analysts’ expectations of $109.68 million.

Global Net Lease Announces Dividend

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

About Global Net Lease

Global Net Lease, Inc (NYSE:GNL) is a real estate investment trust that owns and manages a diversified portfolio of commercial properties subject to long-term, net leases. Under these arrangements, tenants generally pay property operating expenses such as taxes, insurance and maintenance, which can provide the company with relatively predictable rental income.

The company invests primarily in single-tenant office, industrial and retail properties leased to corporate and other commercial tenants.