Global Net Lease (NYSE:GNL) Sets New 12-Month Low at $6.52

Global Net Lease, Inc. (NYSE:GNL) shares reached a new 52-week low during trading on Tuesday . The stock traded as low as $6.52 and last traded at $6.55, with a volume of 230074 shares trading hands. The stock had previously closed at $6.73.

Wall Street Analyst Weigh In

Several research firms recently commented on GNL. BMO Capital Markets began coverage on shares of Global Net Lease in a research report on Tuesday, February 13th. They issued an “outperform” rating and a $11.00 price objective on the stock. BTIG Research cut shares of Global Net Lease from a “buy” rating to a “neutral” rating in a research report on Friday, March 8th. Finally, Truist Financial began coverage on shares of Global Net Lease in a research report on Thursday, March 28th. They issued a “hold” rating and a $7.00 price objective on the stock. One analyst has rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $12.00.

Global Net Lease Stock Up 0.2 %

The company has a market capitalization of $1.52 billion, a price-to-earnings ratio of -3.80, a price-to-earnings-growth ratio of 0.87 and a beta of 1.34. The firm’s 50 day moving average price is $7.49 and its two-hundred day moving average price is $8.38. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.66.

Global Net Lease Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 16th. Stockholders of record on Thursday, April 11th were paid a dividend of $0.275 per share. The ex-dividend date was Wednesday, April 10th. This is a positive change from Global Net Lease’s previous quarterly dividend of $0.06. This represents a $1.10 annualized dividend and a dividend yield of 16.72%. Global Net Lease’s payout ratio is currently -63.58%.

Insider Transactions at Global Net Lease

In other news, major shareholder Nicholas S. Schorsch sold 176,577 shares of the business’s stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $9.04, for a total transaction of $1,596,256.08. Following the transaction, the insider now directly owns 4,078,465 shares in the company, valued at approximately $36,869,323.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, major shareholder Nicholas S. Schorsch sold 176,577 shares of the company’s stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $9.04, for a total value of $1,596,256.08. Following the transaction, the insider now owns 4,078,465 shares in the company, valued at approximately $36,869,323.60. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, major shareholder Nicholas S. Schorsch sold 4,837 shares of the company’s stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $8.90, for a total transaction of $43,049.30. Following the completion of the transaction, the insider now owns 3,861,472 shares in the company, valued at approximately $34,367,100.80. The disclosure for this sale can be found here. Insiders have sold 351,414 shares of company stock worth $3,154,305 in the last ninety days. Insiders own 0.22% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Kingswood Wealth Advisors LLC acquired a new position in shares of Global Net Lease during the 1st quarter worth approximately $119,000. Sound Income Strategies LLC grew its position in shares of Global Net Lease by 17.9% during the 1st quarter. Sound Income Strategies LLC now owns 1,022,526 shares of the financial services provider’s stock worth $7,945,000 after purchasing an additional 155,377 shares in the last quarter. BTC Capital Management Inc. acquired a new position in shares of Global Net Lease during the 1st quarter worth approximately $302,000. Newbridge Financial Services Group Inc. grew its position in shares of Global Net Lease by 59.1% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 183,722 shares of the financial services provider’s stock worth $1,828,000 after purchasing an additional 68,246 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in shares of Global Net Lease by 10.3% during the 4th quarter. Vanguard Group Inc. now owns 33,932,387 shares of the financial services provider’s stock worth $337,627,000 after purchasing an additional 3,162,310 shares in the last quarter. Institutional investors and hedge funds own 61.19% 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.