Global Net Lease (NYSE:GNL) Sets New 1-Year Low – Here’s Why

Global Net Lease, Inc. (NYSE:GNL)’s share price reached a new 52-week low on Tuesday. The company traded as low as $6.78 and last traded at $6.8650, with a volume of 86,556 shares trading hands. The stock had previously closed at $6.87.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. BMO Capital Markets raised shares of Global Net Lease from a “market perform” rating to an “outperform” rating and set a $10.00 price target on the stock in a research report on Monday, August 17th. Huntington started coverage on Global Net Lease in a research report on Wednesday, November 4th. They issued a “hold” rating on the stock. Citizens Jmp reiterated a “market outperform” rating and set a $10.00 target price on shares of Global Net Lease in a report on Monday, August 31st. Finally, Cantor Fitzgerald dropped their target price on Global Net Lease from $11.00 to $9.00 and set an “overweight” rating on the stock in a report on Friday, November 6th. Four investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $9.75.

Global Net Lease Stock Performance

The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 1.13. The stock’s fifty day moving average is $7.96 and its two-hundred day moving average is $8.96. The firm has a market capitalization of $1.50 billion, a price-to-earnings ratio of 7.29 and a beta of 1.09.

Global Net Lease Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 16th. Stockholders of record on Monday, October 12th were paid a dividend of $0.19 per share. The ex-dividend date was Friday, October 9th. This represents a $0.76 annualized dividend and a dividend yield of 11.3%. Global Net Lease’s payout ratio is currently -281.48%.

Institutional Investors Weigh In On Global Net Lease

Several hedge funds have recently bought and sold shares of GNL. Private Management Group Inc. increased its position in Global Net Lease by 56.3% during the third quarter. Private Management Group Inc. now owns 5,115,564 shares of the financial services provider’s stock worth $42,255,000 after buying an additional 1,843,181 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of Global Net Lease in the second quarter valued at approximately $11,232,000. Renaissance Technologies LLC increased its holdings in shares of Global Net Lease by 158.9% during the 1st quarter. Renaissance Technologies LLC now owns 1,366,133 shares of the financial services provider’s stock worth $12,787,000 after acquiring an additional 838,500 shares during the last quarter. First Trust Advisors LP increased its holdings in shares of Global Net Lease by 282.7% during the 1st quarter. First Trust Advisors LP now owns 614,335 shares of the financial services provider’s stock worth $5,750,000 after acquiring an additional 453,808 shares during the last quarter. Finally, North Star Investment Management Corp. raised its stake in Global Net Lease by 180.5% in the 3rd quarter. North Star Investment Management Corp. now owns 422,151 shares of the financial services provider’s stock valued at $3,487,000 after acquiring an additional 271,670 shares during the period. 61.19% of the stock is currently owned by institutional investors and hedge funds.

Global Net Lease Company Profile

Global Net Lease, Inc. is a real estate investment trust (REIT) that acquires and manages commercial properties leased to businesses, generally under long-term net leases. These leases typically assign some property expenses to tenants, such as taxes, insurance and maintenance. The company’s portfolio includes industrial, office and retail properties in the United States and Europe. Global Net Lease was formed in 2011 and became publicly traded in 2012. Its 2023 merger with The Necessity Retail REIT expanded its portfolio to include additional retail properties.