Zacks Investment Research upgraded shares of Global Net Lease (NYSE:GNL) from a sell rating to a hold rating in a research report sent to investors on Tuesday morning.
According to Zacks, “Global Net Lease, Inc. is a real estate investment trust which focused on sale-leaseback properties primarily in the United States and Europe. Global Net Lease, Inc. is based in New York, United States. “
Several other research analysts also recently weighed in on the company. B. Riley reiterated a neutral rating and issued a $26.00 target price on shares of Global Net Lease in a research note on Tuesday, November 7th. FBR & Co reiterated a hold rating on shares of Global Net Lease in a research note on Tuesday, October 10th.
Shares of Global Net Lease (NYSE:GNL) traded down $0.23 during mid-day trading on Tuesday, hitting $19.32. The company’s stock had a trading volume of 386,682 shares, compared to its average volume of 403,937. Global Net Lease has a one year low of $19.28 and a one year high of $25.25. The stock has a market cap of $1,315.46, a P/E ratio of 39.43 and a beta of 0.68. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 0.30.
The business also recently announced a monthly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Thursday, February 8th will be paid a $0.1775 dividend. The ex-dividend date of this dividend is Wednesday, February 7th. This represents a $2.13 annualized dividend and a dividend yield of 11.02%. Global Net Lease’s dividend payout ratio (DPR) is currently 434.68%.
In related news, CEO James Larry Nelson bought 2,000 shares of the stock in a transaction on Monday, November 20th. The shares were bought at an average cost of $21.48 per share, for a total transaction of $42,960.00. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.19% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Nisa Investment Advisors LLC lifted its holdings in shares of Global Net Lease by 218.5% in the 4th quarter. Nisa Investment Advisors LLC now owns 11,370 shares of the financial services provider’s stock valued at $234,000 after buying an additional 7,800 shares during the period. Belpointe Asset Management LLC acquired a new stake in shares of Global Net Lease in the 3rd quarter valued at approximately $272,000. Eii Capital Management Inc. acquired a new stake in shares of Global Net Lease in the 3rd quarter valued at approximately $891,000. Asset Management One Co. Ltd. lifted its holdings in shares of Global Net Lease by 25.6% in the 3rd quarter. Asset Management One Co. Ltd. now owns 139,782 shares of the financial services provider’s stock valued at $3,064,000 after buying an additional 28,460 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Global Net Lease by 13.4% in the 3rd quarter. Dimensional Fund Advisors LP now owns 698,820 shares of the financial services provider’s stock valued at $15,297,000 after buying an additional 82,637 shares during the period. 44.28% of the stock is owned by institutional investors and hedge funds.
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Global Net Lease Company Profile
Global Net Lease, Inc is a real estate investment trust. The Company’s business consists of owning, managing, operating, leasing, acquiring, investing in and disposing of real estate assets. It owns and invests in commercial properties principally in the United States, the United Kingdom and continental Europe that are then leased to companies.
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