Global Net Lease (NYSE:GNL) Coverage Initiated by Analysts at Huntington

Huntington initiated coverage on shares of Global Net Lease (NYSE:GNL) in a research report report published on Wednesday,Zacks reports. The firm issued a hold rating on the financial services provider’s stock.

A number of other research analysts also recently issued reports on the company. Citizens Jmp restated a “market outperform” rating and issued a $10.00 price objective on shares of Global Net Lease in a research note on Monday, August 31st. BMO Capital Markets raised Global Net Lease from a “market perform” rating to an “outperform” rating and set a $10.00 target price for the company in a research report on Monday, August 17th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $10.25.

Global Net Lease Trading Up 0.1%

NYSE:GNL opened at $7.10 on Wednesday. Global Net Lease has a 52 week low of $6.81 and a 52 week high of $10.04. The firm has a 50-day moving average price of $8.15 and a two-hundred day moving average price of $9.02. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.16 and a current ratio of 0.16. The firm has a market cap of $1.50 billion, a price-to-earnings ratio of -26.29 and a beta of 1.09.

Global Net Lease (NYSE:GNL) last announced its earnings results on Wednesday, August 5th. The financial services provider reported ($0.05) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.05). The firm had revenue of $112.47 million for the quarter, compared to the consensus estimate of $109.68 million. Global Net Lease had a negative return on equity of 0.81% and a negative net margin of 2.28%.

Global Net Lease Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 16th. Shareholders of record on Monday, October 12th were paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 10.7%. The ex-dividend date was Friday, October 9th. Global Net Lease’s payout ratio is presently -271.43%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Private Management Group Inc. raised its stake in Global Net Lease by 56.3% in the 3rd quarter. Private Management Group Inc. now owns 5,115,564 shares of the financial services provider’s stock valued at $42,255,000 after acquiring an additional 1,843,181 shares during the period. Renaissance Technologies LLC boosted its position in Global Net Lease by 158.9% during the first quarter. Renaissance Technologies LLC now owns 1,366,133 shares of the financial services provider’s stock worth $12,787,000 after purchasing an additional 838,500 shares during the period. Bank of New York Mellon Corp bought a new position in Global Net Lease during the second quarter worth about $11,232,000. Principal Financial Group Inc. increased its stake in shares of Global Net Lease by 2.0% in the first quarter. Principal Financial Group Inc. now owns 958,365 shares of the financial services provider’s stock worth $8,970,000 after purchasing an additional 18,661 shares in the last quarter. Finally, First Trust Advisors LP increased its stake in shares of Global Net Lease by 282.7% in the first quarter. First Trust Advisors LP now owns 614,335 shares of the financial services provider’s stock worth $5,750,000 after purchasing an additional 453,808 shares in the last quarter. 61.19% of the stock is owned by institutional investors.

Global Net Lease Company Profile

Global Net Lease, Inc (NYSE:GNL) is a real estate investment trust that owns and manages a diversified portfolio of commercial properties subject to long-term, net leases. Under these arrangements, tenants generally pay property operating expenses such as taxes, insurance and maintenance, which can provide the company with relatively predictable rental income.

The company invests primarily in single-tenant office, industrial and retail properties leased to corporate and other commercial tenants.