Global Net Lease (NYSE:GNL) Given “Market Perform” Rating at JMP Securities

JMP Securities reaffirmed their market perform rating on shares of Global Net Lease (NYSE:GNL) in a research note published on Thursday morning, Benzinga reports.

GNL has been the topic of several other reports. Truist Financial initiated coverage on Global Net Lease in a report on Thursday, March 28th. They set a hold rating and a $7.00 price objective on the stock. BMO Capital Markets initiated coverage on Global Net Lease in a report on Tuesday, February 13th. They set an outperform rating and a $11.00 price objective on the stock. Finally, BTIG Research cut Global Net Lease from a buy rating to a neutral rating in a report on Friday, March 8th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, Global Net Lease presently has an average rating of Hold and an average target price of $12.00.

Global Net Lease Stock Performance

NYSE GNL opened at $6.63 on Thursday. The firm has a market cap of $1.53 billion, a price-to-earnings ratio of -3.83, a price-to-earnings-growth ratio of 0.85 and a beta of 1.34. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.66. The business has a 50-day moving average price of $7.46 and a 200-day moving average price of $8.36. Global Net Lease has a twelve month low of $6.52 and a twelve month high of $11.58.

Global Net Lease Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 16th. Shareholders of record on Thursday, April 11th were given a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 16.60%. The ex-dividend date of this dividend was Wednesday, April 10th. This is an increase from Global Net Lease’s previous quarterly dividend of $0.06. Global Net Lease’s dividend payout ratio is -63.58%.

Insider Buying and Selling at Global Net Lease

In other Global Net Lease news, major shareholder Nicholas S. Schorsch sold 20,000 shares of the company’s stock in a transaction on Wednesday, January 24th. The stock was sold at an average price of $9.00, for a total value of $180,000.00. Following the transaction, the insider now owns 4,024,330 shares of the company’s stock, valued at approximately $36,218,970. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, major shareholder Nicholas S. Schorsch sold 4,837 shares of the stock in a transaction on Friday, January 26th. The stock was sold at an average price of $8.90, for a total transaction of $43,049.30. Following the transaction, the insider now owns 3,861,472 shares of the company’s stock, valued at approximately $34,367,100.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Nicholas S. Schorsch sold 20,000 shares of the stock in a transaction on Wednesday, January 24th. The stock was sold at an average price of $9.00, for a total value of $180,000.00. Following the transaction, the insider now directly owns 4,024,330 shares in the company, valued at approximately $36,218,970. The disclosure for this sale can be found here. Insiders have sold 201,414 shares of company stock valued at $1,819,305 in the last quarter. 0.22% of the stock is owned by insiders.

Institutional Investors Weigh In On Global Net Lease

A number of hedge funds have recently made changes to their positions in the stock. Kingswood Wealth Advisors LLC purchased a new stake in shares of Global Net Lease during the 1st quarter worth $119,000. Sound Income Strategies LLC lifted its stake in shares of Global Net Lease by 17.9% during the 1st quarter. Sound Income Strategies LLC now owns 1,022,526 shares of the financial services provider’s stock worth $7,945,000 after purchasing an additional 155,377 shares during the last quarter. BTC Capital Management Inc. purchased a new stake in shares of Global Net Lease during the 1st quarter worth $302,000. Newbridge Financial Services Group Inc. lifted its stake in shares of Global Net Lease by 59.1% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 183,722 shares of the financial services provider’s stock worth $1,828,000 after purchasing an additional 68,246 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in shares of Global Net Lease by 10.3% during the 4th quarter. Vanguard Group Inc. now owns 33,932,387 shares of the financial services provider’s stock worth $337,627,000 after purchasing an additional 3,162,310 shares during the last quarter. 61.19% of the stock is currently owned by hedge funds and other institutional investors.

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.