Global Net Lease (NYSE:GNL) Receives New Coverage from Analysts at Truist Financial

Truist Financial initiated coverage on shares of Global Net Lease (NYSE:GNL) in a research note published on Thursday, MarketBeat Ratings reports. The brokerage issued a hold rating and a $7.00 price objective on the financial services provider’s stock.

Several other analysts also recently issued reports on the stock. BTIG Research downgraded shares of Global Net Lease from a buy rating to a neutral rating in a research note on Friday, March 8th. BMO Capital Markets began coverage on shares of 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 investment analyst has rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of Hold and a consensus price target of $12.00.

Global Net Lease Stock Up 1.8 %

Shares of NYSE GNL opened at $7.77 on Thursday. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.05 and a quick ratio of 0.05. The company has a market cap of $1.79 billion, a P/E ratio of -4.49, a PEG ratio of 0.94 and a beta of 1.33. Global Net Lease has a 1 year low of $6.83 and a 1 year high of $13.10. The firm has a 50-day simple moving average of $7.89 and a two-hundred day simple moving average of $8.71.

Global Net Lease Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 16th. Stockholders of record on Friday, January 12th were given a dividend of $0.354 per share. The ex-dividend date of this dividend was Thursday, January 11th. This is a positive change from Global Net Lease’s previous quarterly dividend of $0.06. This represents a $1.42 dividend on an annualized basis and a dividend yield of 18.22%. Global Net Lease’s dividend payout ratio (DPR) is -82.08%.

Insider Transactions at Global Net Lease

In related news, major shareholder Nicholas S. Schorsch sold 150,000 shares of Global Net Lease stock in a transaction that occurred on Friday, January 19th. The shares were sold at an average price of $8.90, for a total transaction of $1,335,000.00. Following the transaction, the insider now directly owns 4,255,042 shares of the company’s stock, valued at $37,869,873.80. The sale was disclosed in a filing with the SEC, which is accessible through 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 transaction, the insider now directly owns 3,861,472 shares of the company’s stock, valued at approximately $34,367,100.80. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Nicholas S. Schorsch sold 150,000 shares of the company’s stock in a transaction on Friday, January 19th. The shares were sold at an average price of $8.90, for a total value of $1,335,000.00. Following the completion of the transaction, the insider now directly owns 4,255,042 shares in the company, valued at $37,869,873.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 571,978 shares of company stock valued at $5,362,151. 0.22% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Global Net Lease

Hedge funds have recently made changes to their positions in the company. Scarborough Advisors LLC acquired a new position in shares of Global Net Lease in the 4th quarter valued at $25,000. Beaird Harris Wealth Management LLC purchased a new stake in Global Net Lease in the third quarter valued at $26,000. Tower Research Capital LLC TRC boosted its holdings in Global Net Lease by 232.8% in the first quarter. Tower Research Capital LLC TRC now owns 2,702 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 1,890 shares during the last quarter. Gradient Investments LLC boosted its holdings in Global Net Lease by 98.9% in the third quarter. Gradient Investments LLC now owns 2,942 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 1,463 shares during the last quarter. Finally, Turtle Creek Wealth Advisors LLC purchased a new stake in Global Net Lease in the fourth quarter valued at $31,000. 61.19% of the stock is owned by institutional investors and hedge funds.

Global Net Lease Company Profile

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.