Global Net Lease (NYSE:GNL) Price Target Raised to $10.00

Global Net Lease (NYSE:GNL) had its price target lifted by Citizens Jmp from $9.00 to $10.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a market outperform rating on the financial services provider’s stock.

GNL has been the subject of a number of other research reports. Wall Street Zen upgraded Global Net Lease from a “sell” rating to a “hold” rating in a report on Saturday, December 20th. Citigroup reiterated an “outperform” rating on shares of Global Net Lease in a research report on Monday. Five research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, Global Net Lease currently has an average rating of “Moderate Buy” and an average price target of $9.60.

Global Net Lease Trading Up 1.6%

Global Net Lease stock opened at $9.16 on Monday. The stock has a market cap of $2.01 billion, a PE ratio of -6.40 and a beta of 1.13. Global Net Lease has a 52 week low of $6.51 and a 52 week high of $9.18. The company has a current ratio of 0.15, a quick ratio of 0.15 and a debt-to-equity ratio of 0.93. The stock has a 50-day moving average price of $8.33 and a 200 day moving average price of $7.91.

Global Net Lease (NYSE:GNL) last announced its quarterly earnings data on Wednesday, November 5th. The financial services provider reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.03. The business had revenue of $121.01 million during the quarter, compared to the consensus estimate of $118.86 million. Global Net Lease had a negative return on equity of 10.27% and a negative net margin of 48.52%.Global Net Lease has set its FY 2025 guidance at 0.950-0.970 EPS. Equities research analysts predict that Global Net Lease will post 1.26 earnings per share for the current fiscal year.

Global Net Lease Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 16th. Investors of record on Monday, January 12th will be paid a $0.19 dividend. The ex-dividend date of this dividend is Monday, January 12th. This represents a $0.76 annualized dividend and a dividend yield of 8.3%. Global Net Lease’s payout ratio is presently -53.15%.

Institutional Trading of Global Net Lease

Institutional investors and hedge funds have recently modified their holdings of the company. Corient Private Wealth LLC boosted its position in Global Net Lease by 4,854.4% during the second quarter. Corient Private Wealth LLC now owns 2,263,808 shares of the financial services provider’s stock worth $17,092,000 after purchasing an additional 2,218,115 shares during the period. Strs Ohio acquired a new position in Global Net Lease in the 1st quarter valued at about $302,000. Waterfall Asset Management LLC bought a new position in Global Net Lease in the 2nd quarter valued at about $1,510,000. Bank of New York Mellon Corp lifted its position in Global Net Lease by 2.3% during the second quarter. Bank of New York Mellon Corp now owns 1,325,305 shares of the financial services provider’s stock worth $10,006,000 after acquiring an additional 30,342 shares during the last quarter. Finally, Greenland Capital Management LP bought a new stake in shares of Global Net Lease during the second quarter worth approximately $3,033,000. 61.19% of the stock is currently owned by institutional investors and hedge funds.

About Global Net Lease

Global Net Lease (NYSE: GNL) is a real estate investment trust (REIT) that focuses on acquiring and managing a diversified portfolio of single-tenant, net-lease commercial properties. The company’s business model centers on establishing long-term, triple-net leases with creditworthy tenants, enabling the pass-through of property operating expenses while aiming to provide predictable rental income and stable cash flows. Global Net Lease’s portfolio spans retail, industrial, office and light-industrial assets, each selected for its strategic location and tenant credit quality.

Since launching its initial public offering in April 2016, Global Net Lease has built a presence in key markets throughout the United States and Western Europe.