Global Net Lease (NYSE:GNL) Upgraded to Hold by Zacks Investment Research

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 Tuesday morning, Zacks.com reports.

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 opened at $19.04 on Tuesday. The company’s fifty day moving average price is $19.36. The firm has a market cap of $1.60 billion, a price-to-earnings ratio of 8.90 and a beta of 0.71. Global Net Lease has a twelve month low of $16.95 and a twelve month high of $22.53. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.08 and a current ratio of 0.08.

Global Net Lease (NYSE:GNL) last released its quarterly earnings results on Thursday, May 9th. The financial services provider reported $0.07 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.50 by ($0.43). The firm had revenue of $75.47 million for the quarter, compared to analyst estimates of $75.92 million. Global Net Lease had a net margin of 4.96% and a return on equity of 1.00%. Analysts forecast that Global Net Lease will post 1.92 earnings per share for the current year.

The company also recently declared a monthly dividend, which was paid on Monday, July 15th. Investors of record on Thursday, July 11th were issued a dividend of $0.533 per share. This represents a $6.40 dividend on an annualized basis and a yield of 33.59%. This is a positive change from Global Net Lease’s previous monthly dividend of $0.06. The ex-dividend date of this dividend was Wednesday, July 10th. Global Net Lease’s dividend payout ratio (DPR) is presently 298.60%.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Oregon Public Employees Retirement Fund grew its holdings in Global Net Lease by 1.8% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 29,462 shares of the financial services provider’s stock worth $557,000 after acquiring an additional 532 shares in the last quarter. 6 Meridian grew its holdings in Global Net Lease by 2.8% during the 2nd quarter. 6 Meridian now owns 24,337 shares of the financial services provider’s stock worth $477,000 after acquiring an additional 656 shares in the last quarter. Belpointe Asset Management LLC grew its holdings in Global Net Lease by 11.5% during the 1st quarter. Belpointe Asset Management LLC now owns 6,868 shares of the financial services provider’s stock worth $130,000 after acquiring an additional 711 shares in the last quarter. New York State Teachers Retirement System grew its holdings in Global Net Lease by 2.0% during the 2nd quarter. New York State Teachers Retirement System now owns 56,706 shares of the financial services provider’s stock worth $1,113,000 after acquiring an additional 1,100 shares in the last quarter. Finally, Versant Capital Management Inc grew its holdings in Global Net Lease by 274.7% during the 1st quarter. Versant Capital Management Inc now owns 1,641 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 1,203 shares in the last quarter. 63.31% 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.

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