Global Net Lease (NYSE:GNL) Sets New 1-Year High – Time to Buy?

Global Net Lease, Inc. (NYSE:GNL)’s share price hit a new 52-week high on Friday . The company traded as high as $9.66 and last traded at $9.6450, with a volume of 865643 shares traded. The stock had previously closed at $9.58.

Analysts Set New Price Targets

GNL has been the subject of several recent analyst reports. Citigroup restated an “outperform” rating on shares of Global Net Lease in a research note on Monday, January 12th. Cantor Fitzgerald raised Global Net Lease to a “strong-buy” rating in a research note on Wednesday. Wall Street Zen cut shares of Global Net Lease from a “hold” rating to a “sell” rating in a research note on Saturday. Finally, Citizens Jmp boosted their target price on shares of Global Net Lease from $9.00 to $10.00 and gave the stock a “market outperform” rating in a research note on Monday, January 12th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $9.83.

Global Net Lease Trading Up 0.4%

The stock has a market capitalization of $2.11 billion, a PE ratio of -6.73 and a beta of 1.13. The company’s 50 day moving average price is $8.83 and its two-hundred day moving average price is $8.15. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.15 and a quick ratio of 0.15.

Global Net Lease (NYSE:GNL) last released its quarterly earnings data on Wednesday, November 5th. The financial services provider reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.03. The company had revenue of $121.01 million during the quarter, compared to the consensus estimate of $118.86 million. Global Net Lease had a negative net margin of 48.52% and a negative return on equity of 10.27%. As a group, analysts expect that Global Net Lease, Inc. will post 1.26 earnings per share for the current year.

Global Net Lease Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 16th. Shareholders of record on Monday, January 12th were issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 7.9%. The ex-dividend date was Monday, January 12th. Global Net Lease’s dividend payout ratio is presently -53.15%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Corient Private Wealth LLC raised its stake in Global Net Lease by 4,854.4% during the second quarter. Corient Private Wealth LLC now owns 2,263,808 shares of the financial services provider’s stock worth $17,092,000 after purchasing an additional 2,218,115 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Global Net Lease during the 3rd quarter worth approximately $15,933,000. Brown Advisory Inc. increased its holdings in shares of Global Net Lease by 83.5% during the 2nd quarter. Brown Advisory Inc. now owns 4,229,269 shares of the financial services provider’s stock worth $31,931,000 after buying an additional 1,924,238 shares during the last quarter. Conversant Capital LLC raised its position in shares of Global Net Lease by 69.9% during the 2nd quarter. Conversant Capital LLC now owns 4,343,500 shares of the financial services provider’s stock valued at $32,793,000 after buying an additional 1,786,902 shares during the period. Finally, Marshall Wace LLP acquired a new position in Global Net Lease in the second quarter valued at approximately $7,525,000. Institutional investors and hedge funds own 61.19% of the company’s stock.

Global Net Lease Company Profile

Global Net Lease (NYSE: GNL) is a real estate investment trust (REIT) that focuses on acquiring and managing a diversified portfolio of single-tenant, net-lease commercial properties. The company’s business model centers on establishing long-term, triple-net leases with creditworthy tenants, enabling the pass-through of property operating expenses while aiming to provide predictable rental income and stable cash flows. Global Net Lease’s portfolio spans retail, industrial, office and light-industrial assets, each selected for its strategic location and tenant credit quality.

Since launching its initial public offering in April 2016, Global Net Lease has built a presence in key markets throughout the United States and Western Europe.