Global Net Lease (NYSE:GNL) Reaches New 1-Year High – What’s Next?

Shares of Global Net Lease, Inc. (NYSE:GNL) hit a new 52-week high during trading on Thursday . The stock traded as high as $10.01 and last traded at $9.8750, with a volume of 1792521 shares changing hands. The stock had previously closed at $9.96.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on GNL. Cantor Fitzgerald raised shares of Global Net Lease to a “strong-buy” rating in a research report on Wednesday, February 4th. Wall Street Zen cut Global Net Lease from a “hold” rating to a “sell” rating in a research report on Saturday, February 7th. Citigroup reaffirmed an “outperform” rating on shares of Global Net Lease in a research report on Monday, January 12th. Finally, Citizens Jmp lifted their target price on 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 assigned a Hold rating to the stock. Based on data from MarketBeat.com, Global Net Lease has a consensus rating of “Buy” and an average price target of $9.83.

Global Net Lease Price Performance

The firm’s 50 day moving average price is $8.93 and its two-hundred day moving average price is $8.20. 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 stock has a market cap of $2.16 billion, a PE ratio of -6.91 and a beta of 1.13.

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 given a dividend of $0.19 per share. The ex-dividend date was Monday, January 12th. This represents a $0.76 annualized dividend and a dividend yield of 7.7%. Global Net Lease’s dividend payout ratio is currently -53.15%.

Institutional Trading of Global Net Lease

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Corient Private Wealth LLC lifted its holdings in Global Net Lease by 4,854.4% during the 2nd 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 in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Global Net Lease during the third quarter valued at about $15,933,000. Brown Advisory Inc. lifted its holdings in shares of Global Net Lease by 83.5% in the second 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 in the last quarter. Conversant Capital LLC boosted its position in shares of Global Net Lease by 69.9% in the second quarter. Conversant Capital LLC now owns 4,343,500 shares of the financial services provider’s stock valued at $32,793,000 after acquiring an additional 1,786,902 shares during the period. Finally, Marshall Wace LLP purchased a new position in Global Net Lease during the second quarter valued at approximately $7,525,000. 61.19% of the stock is currently owned by institutional investors.

About Global Net Lease

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.