Global Net Lease (NYSE:GNL) Research Coverage Started at Truist Financial

Truist Financial began coverage on shares of Global Net Lease (NYSE:GNL) in a report issued on Thursday morning, MarketBeat reports. The firm issued a hold rating and a $7.00 price objective on the financial services provider’s stock.

Several other equities research analysts have also commented on the stock. BMO Capital Markets started coverage on shares of Global Net Lease in a report on Tuesday, February 13th. They issued an outperform rating and a $11.00 price target on the stock. BTIG Research downgraded shares of Global Net Lease from a buy rating to a neutral rating in a report on Friday, March 8th. One analyst has rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, Global Net Lease presently has a consensus rating of Hold and an average target price of $12.00.

Global Net Lease Price Performance

Global Net Lease stock opened at $7.77 on Thursday. Global Net Lease has a 52 week low of $6.83 and a 52 week high of $13.10. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.66. The business has a 50-day simple moving average of $7.87 and a 200 day simple moving average of $8.65. The stock has a market cap of $1.79 billion, a price-to-earnings ratio of -4.49, a PEG ratio of 1.00 and a beta of 1.33.

Global Net Lease Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 16th. Stockholders of record on Friday, January 12th were given a $0.354 dividend. This represents a $1.42 annualized dividend and a dividend yield of 18.22%. This is a positive change from Global Net Lease’s previous quarterly dividend of $0.06. The ex-dividend date was Thursday, January 11th. Global Net Lease’s payout ratio is presently -82.08%.

Insider Buying and Selling at Global Net Lease

In other Global Net Lease news, major shareholder Nicholas S. Schorsch sold 150,000 shares of the business’s stock in a transaction on Friday, January 19th. The stock was sold at an average price of $8.90, for a total value of $1,335,000.00. Following the completion of the transaction, the insider now directly owns 4,255,042 shares in the company, valued at approximately $37,869,873.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related 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 value of $1,335,000.00. Following the transaction, the insider now owns 4,255,042 shares in the company, valued at approximately $37,869,873.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Nicholas S. Schorsch sold 4,837 shares of the company’s stock in a transaction that occurred on Friday, January 26th. The stock was sold at an average price of $8.90, for a total transaction of $43,049.30. Following the transaction, the insider now owns 3,861,472 shares in the company, valued at $34,367,100.80. The disclosure for this sale can be found here. Insiders sold 571,978 shares of company stock valued at $5,362,151 over the last quarter. 0.22% of the stock is currently owned by insiders.

Institutional Trading of Global Net Lease

A number of hedge funds have recently modified their holdings of the business. Scarborough Advisors LLC purchased a new stake in Global Net Lease during the fourth quarter valued at approximately $25,000. Beaird Harris Wealth Management LLC acquired a new stake in Global Net Lease in the 3rd quarter valued at about $26,000. Gradient Investments LLC grew its position in shares of Global Net Lease by 98.9% during the third quarter. Gradient Investments LLC now owns 2,942 shares of the financial services provider’s stock worth $28,000 after buying an additional 1,463 shares in the last quarter. Moisand Fitzgerald Tamayo LLC acquired a new stake in Global Net Lease in the third quarter worth about $31,000. Finally, Turtle Creek Wealth Advisors LLC bought a new stake in shares of Global Net Lease in the 4th quarter valued at approximately $31,000. Institutional investors own 61.19% 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.