Global Net Lease (NYSE:GNL) Hits New 12-Month Low at $8.84

Global Net Lease, Inc. (NYSE:GNL – Get Rating) reached a new 52-week low during trading on Wednesday . The company traded as low as $8.84 and last traded at $9.08, with a volume of 1371505 shares changing hands. The stock had previously closed at $10.56.

Analyst Ratings Changes

Several brokerages have recently issued reports on GNL. StockNews.com began coverage on shares of Global Net Lease in a research report on Thursday, May 18th. They set a “hold” rating on the stock. BNP Paribas began coverage on shares of Global Net Lease in a research report on Thursday, March 16th. They set an “underperform” rating and a $13.00 price target on the stock. Finally, B. Riley reduced their price target on shares of Global Net Lease from $17.00 to $15.00 in a research report on Monday, May 15th.

Global Net Lease Trading Down 1.4 %

The company’s fifty day moving average is $11.44 and its two-hundred day moving average is $12.88. The stock has a market cap of $959.57 million, a price-to-earnings ratio of -46.20, a PEG ratio of 1.24 and a beta of 1.28. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 0.54.

Global Net Lease Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 17th. Investors of record on Thursday, April 13th were issued a $0.40 dividend. This is a boost from Global Net Lease’s previous quarterly dividend of $0.06. The ex-dividend date was Wednesday, April 12th. This represents a $1.60 annualized dividend and a yield of 17.32%. Global Net Lease’s dividend payout ratio (DPR) is -799.96%.

Institutional Trading of Global Net Lease

Several hedge funds have recently added to or reduced their stakes in the company. Kovack Advisors Inc. raised its holdings in Global Net Lease by 2.3% in the third quarter. Kovack Advisors Inc. now owns 38,032 shares of the financial services provider’s stock valued at $405,000 after acquiring an additional 851 shares in the last quarter. Toroso Investments LLC increased its stake 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 valued at $199,000 after purchasing an additional 879 shares during the last quarter. Signaturefd LLC increased its stake in Global Net Lease by 55.8% in the first quarter. Signaturefd LLC now owns 2,741 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 982 shares during the last quarter. LPL Financial LLC increased its stake in Global Net Lease by 1.2% in the second quarter. LPL Financial LLC now owns 80,748 shares of the financial services provider’s stock valued at $1,143,000 after purchasing an additional 982 shares during the last quarter. Finally, Great West Life Assurance Co. Can increased its stake in Global Net Lease by 0.5% in the first quarter. Great West Life Assurance Co. Can now owns 199,399 shares of the financial services provider’s stock valued at $2,563,000 after purchasing an additional 994 shares during the last quarter. Institutional investors and hedge funds own 70.40% of the company’s stock.

About Global Net Lease

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Global Net Lease, Inc engages in real estate investment service. It focuses 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.