Global Net Lease (NYSE:GNL) Sets New 12-Month Low – Here’s What Happened

Global Net Lease, Inc. (NYSE:GNL)’s stock price hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $6.51 and last traded at $6.60, with a volume of 465947 shares traded. The stock had previously closed at $6.82.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. JMP Securities upgraded Global Net Lease from a “market perform” rating to an “outperform” rating and set a $9.00 price target on the stock in a research report on Tuesday, December 17th. Citizens Jmp raised shares of Global Net Lease from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 17th. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Global Net Lease has a consensus rating of “Moderate Buy” and an average target price of $9.50.

Global Net Lease Trading Down 4.1 %

The stock’s 50 day moving average is $7.60 and its 200-day moving average is $7.62. The company has a market cap of $1.51 billion, a P/E ratio of -6.98 and a beta of 1.19. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 0.70.

Global Net Lease Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 16th. Stockholders of record on Friday, April 11th will be issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 11.62%. The ex-dividend date is Friday, April 11th. Global Net Lease’s payout ratio is -100.00%.

Insider Activity at Global Net Lease

In other Global Net Lease news, major shareholder Nicholas S. Schorsch sold 200,000 shares of the stock in a transaction on Thursday, April 3rd. The stock was sold at an average price of $7.95, for a total transaction of $1,590,000.00. Following the sale, the insider now directly owns 1,629,073 shares in the company, valued at approximately $12,951,130.35. This trade represents a 10.93 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.31% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Geode Capital Management LLC raised its position in Global Net Lease by 1.9% in the 3rd quarter. Geode Capital Management LLC now owns 5,093,659 shares of the financial services provider’s stock worth $42,897,000 after buying an additional 95,769 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Global Net Lease by 31.8% during the third quarter. JPMorgan Chase & Co. now owns 612,228 shares of the financial services provider’s stock valued at $5,155,000 after purchasing an additional 147,803 shares during the last quarter. HB Wealth Management LLC purchased a new position in shares of Global Net Lease during the fourth quarter valued at approximately $81,000. PFG Investments LLC lifted its position in Global Net Lease by 177.2% during the fourth quarter. PFG Investments LLC now owns 86,497 shares of the financial services provider’s stock valued at $631,000 after purchasing an additional 55,293 shares during the period. Finally, Y Intercept Hong Kong Ltd purchased a new stake in Global Net Lease in the third quarter worth approximately $589,000. 61.19% of the stock is owned by 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. The firm 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.