Global Net Lease (NYSE:GNL) Hits New 12-Month High – Here’s Why

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

Analysts Set New Price Targets

A number of equities analysts have weighed in on GNL shares. Cantor Fitzgerald upgraded shares of Global Net Lease to a “strong-buy” rating in a report on Wednesday. Citigroup reaffirmed an “outperform” rating on shares of Global Net Lease in a research report on Monday, January 12th. Citizens Jmp lifted their target price on Global Net Lease from $9.00 to $10.00 and gave the company a “market outperform” rating in a report on Monday, January 12th. Finally, Wall Street Zen raised Global Net Lease from a “sell” rating to a “hold” rating in a research report on Saturday, December 20th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $9.83.

Global Net Lease Price Performance

The company has a debt-to-equity ratio of 0.93, a current ratio of 0.15 and a quick ratio of 0.15. The company has a market cap of $2.11 billion, a PE ratio of -6.73 and a beta of 1.13. The company has a 50-day moving average price of $8.80 and a two-hundred day moving average price of $8.12.

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

Global Net Lease Dividend Announcement

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

Institutional Investors Weigh In On Global Net Lease

Several hedge funds and other institutional investors have recently bought and sold shares of GNL. Pacific Ridge Capital Partners LLC boosted its stake in shares of Global Net Lease by 4.7% during the 4th quarter. Pacific Ridge Capital Partners LLC now owns 78,156 shares of the financial services provider’s stock valued at $672,000 after buying an additional 3,490 shares during the last quarter. Versor Investments LP increased its stake in shares of Global Net Lease by 19.0% in the fourth quarter. Versor Investments LP now owns 79,600 shares of the financial services provider’s stock worth $685,000 after buying an additional 12,700 shares during the last quarter. Heffernan Advisory Inc. acquired a new stake in Global Net Lease in the fourth quarter valued at $123,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Global Net Lease by 5.7% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 156,946 shares of the financial services provider’s stock valued at $1,384,000 after acquiring an additional 8,509 shares during the last quarter. Finally, McIlrath & Eck LLC acquired a new position in Global Net Lease during the 4th quarter worth $89,000. 61.19% of the stock is currently owned by hedge funds and other institutional investors.

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.