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

Shares of Global Net Lease, Inc. (NYSE:GNL) hit 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 changing hands. The stock had previously closed at $6.73.

Analyst Ratings Changes

A number of analysts have recently weighed in on GNL shares. Truist Financial assumed coverage on Global Net Lease in a research report on Thursday, March 28th. They set a “hold” rating and a $7.00 price objective on the stock. BTIG Research downgraded Global Net Lease from a “buy” rating to a “neutral” rating in a report on Friday, March 8th. Finally, BMO Capital Markets started coverage on Global Net Lease in a research note on Tuesday, February 13th. They issued an “outperform” rating and a $11.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $12.00.

Global Net Lease Stock Down 1.6 %

The firm has a fifty day moving average price of $7.55 and a 200 day moving average price of $8.41. The firm has a market capitalization of $1.52 billion, a price-to-earnings ratio of -3.79, a PEG ratio of 0.87 and a beta of 1.34. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.05 and a current ratio of 0.05.

Global Net Lease Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 16th. Shareholders of record on Thursday, April 11th will be issued a $0.275 dividend. The ex-dividend date of this dividend is Wednesday, April 10th. This represents a $1.10 dividend on an annualized basis and a yield of 16.62%. This is an increase from Global Net Lease’s previous quarterly dividend of $0.06. Global Net Lease’s dividend payout ratio (DPR) is -63.58%.

Insider Transactions at Global Net Lease

In other Global Net Lease news, 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 transaction, the insider now directly owns 3,861,472 shares in the company, valued at $34,367,100.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, major shareholder Nicholas S. Schorsch sold 4,837 shares of the company’s stock in a transaction on Friday, January 26th. The stock was sold at an average price of $8.90, for a total value of $43,049.30. Following the completion of the transaction, the insider now directly owns 3,861,472 shares in the company, valued at $34,367,100.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Nicholas S. Schorsch sold 176,577 shares of the business’s stock in a transaction on 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 sale, the insider now directly owns 4,078,465 shares of the company’s stock, valued at $36,869,323.60. The disclosure for this sale can be found here. Insiders have sold a total of 351,414 shares of company stock valued at $3,154,305 in the last ninety days. 0.22% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in GNL. Toroso Investments LLC raised its position in Global Net Lease by 5.9% in the fourth quarter. Toroso Investments LLC now owns 15,823 shares of the financial services provider’s stock worth $199,000 after acquiring an additional 879 shares in the last quarter. LPL Financial LLC increased its stake in shares of Global Net Lease by 1.2% during the 2nd quarter. LPL Financial LLC now owns 80,748 shares of the financial services provider’s stock worth $1,143,000 after purchasing an additional 982 shares during the last quarter. Great West Life Assurance Co. Can increased its position in Global Net Lease by 0.5% during the first quarter. Great West Life Assurance Co. Can now owns 199,399 shares of the financial services provider’s stock worth $2,563,000 after buying an additional 994 shares during the last quarter. Harbour Investments Inc. raised its stake in shares of Global Net Lease by 5.3% in the 2nd quarter. Harbour Investments Inc. now owns 20,156 shares of the financial services provider’s stock valued at $207,000 after acquiring an additional 1,015 shares in the last quarter. Finally, Cetera Investment Advisers lifted its stake in shares of Global Net Lease by 3.0% in the first quarter. Cetera Investment Advisers now owns 36,037 shares of the financial services provider’s stock worth $567,000 after buying an additional 1,047 shares during the last quarter. Institutional investors and hedge funds 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.