Zacks Investment Research lowered shares of Global Net Lease (NYSE:GNL) from a hold rating to a sell rating in a research report report published on Thursday.
According to Zacks, “Global Net Lease, Inc. is a real estate investment trust which focused on sale-leaseback properties primarily in the United States and Europe. Global Net Lease, Inc. is based in New York, United States. “
GNL has been the topic of several other reports. ValuEngine downgraded shares of Global Net Lease from a buy rating to a hold rating in a research note on Monday, April 2nd. B. Riley set a $22.00 price target on shares of Global Net Lease and gave the stock a buy rating in a report on Tuesday, February 27th. Two equities research analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. The stock currently has an average rating of Hold and a consensus target price of $22.00.
Shares of GNL opened at $18.58 on Thursday. Global Net Lease has a fifty-two week low of $15.55 and a fifty-two week high of $22.99. The company has a market cap of $1.25 billion, a P/E ratio of 9.34 and a beta of 0.47. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.25.
Global Net Lease (NYSE:GNL) last announced its earnings results on Tuesday, February 27th. The financial services provider reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.42). Global Net Lease had a return on equity of 1.51% and a net margin of 7.92%. The business had revenue of $66.60 million for the quarter, compared to analysts’ expectations of $64.93 million. research analysts forecast that Global Net Lease will post 2.05 earnings per share for the current fiscal year.
The company also recently declared a monthly dividend, which was paid on Tuesday, May 15th. Shareholders of record on Tuesday, May 8th were issued a dividend of $0.1775 per share. This represents a $2.13 annualized dividend and a yield of 11.46%. The ex-dividend date of this dividend was Monday, May 7th. Global Net Lease’s dividend payout ratio (DPR) is presently 105.97%.
In other news, CEO James Larry Nelson purchased 6,000 shares of the stock in a transaction on Monday, March 19th. The stock was bought at an average price of $16.66 per share, for a total transaction of $99,960.00. Following the acquisition, the chief executive officer now directly owns 8,000 shares of the company’s stock, valued at approximately $133,280. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.19% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of GNL. Wells Fargo & Company MN grew its holdings in Global Net Lease by 56.7% during the 3rd quarter. Wells Fargo & Company MN now owns 90,484 shares of the financial services provider’s stock worth $1,982,000 after acquiring an additional 32,741 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Global Net Lease by 13.4% in the 3rd quarter. Dimensional Fund Advisors LP now owns 698,820 shares of the financial services provider’s stock valued at $15,297,000 after buying an additional 82,637 shares in the last quarter. Nisa Investment Advisors LLC boosted its holdings in shares of Global Net Lease by 218.5% in the 4th quarter. Nisa Investment Advisors LLC now owns 11,370 shares of the financial services provider’s stock valued at $234,000 after buying an additional 7,800 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its holdings in shares of Global Net Lease by 4.2% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 634,592 shares of the financial services provider’s stock valued at $13,060,000 after buying an additional 25,357 shares in the last quarter. Finally, Strs Ohio boosted its holdings in shares of Global Net Lease by 3.8% in the 4th quarter. Strs Ohio now owns 107,432 shares of the financial services provider’s stock valued at $2,210,000 after buying an additional 3,978 shares in the last quarter. Institutional investors own 50.53% 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.
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