Zacks Investment Research upgraded shares of Global Net Lease (NYSE:GNL) from a sell rating to a hold rating in a research note released on Monday.
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. “
GNL has been the subject of several other reports. ValuEngine cut Global Net Lease from a buy rating to a hold rating in a report on Monday, April 2nd. B. Riley set a $22.00 price target on Global Net Lease and gave the stock a buy rating in a report on Tuesday, February 27th. Two research analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. Global Net Lease presently has a consensus rating of Hold and a consensus price target of $22.00.
NYSE:GNL opened at $19.65 on Monday. The company has a market cap of $1.32 billion, a P/E ratio of 9.82 and a beta of 0.50. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.25. Global Net Lease has a 1-year low of $15.55 and a 1-year high of $22.76.
Global Net Lease (NYSE:GNL) last released its quarterly earnings results on Tuesday, May 8th. The financial services provider reported $0.49 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.53 by ($0.04). The firm had revenue of $68.09 million for the quarter, compared to analyst estimates of $66.87 million. Global Net Lease had a return on equity of 1.51% and a net margin of 7.92%. equities research analysts forecast that Global Net Lease will post 2.05 earnings per share for the current year.
The business also recently disclosed a monthly dividend, which was paid on Friday, June 15th. Shareholders of record on Friday, June 8th were issued a $0.1775 dividend. The ex-dividend date of this dividend was Thursday, June 7th. This represents a $2.13 annualized dividend and a yield of 10.84%. Global Net Lease’s dividend payout ratio is presently 105.97%.
Hedge funds and other institutional investors have recently made changes to their positions in the business. SG Americas Securities LLC acquired a new position in Global Net Lease in the 4th quarter valued at $151,000. Atria Investments LLC acquired a new position in Global Net Lease in the 1st quarter valued at $170,000. Macquarie Group Ltd. raised its holdings in Global Net Lease by 89.8% in the 4th quarter. Macquarie Group Ltd. now owns 11,200 shares of the financial services provider’s stock valued at $269,000 after acquiring an additional 5,300 shares in the last quarter. Virtu Financial LLC acquired a new position in Global Net Lease in the 4th quarter valued at $231,000. Finally, Profund Advisors LLC acquired a new position in Global Net Lease in the 1st quarter valued at $220,000. 59.18% of the stock is 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.
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