Zacks: Global Net Lease, Inc. (GNL) Given $26.00 Average Target Price by Brokerages
Shares of Global Net Lease, Inc. (NYSE:GNL) have earned an average broker rating score of 3.00 (Hold) from the one brokers that cover the company, Zacks Investment Research reports. One investment analyst has rated the stock with a hold rating.
Brokerages have set a 12-month consensus price objective of $26.00 for the company and are expecting that the company will post $0.52 earnings per share for the current quarter, according to Zacks. Zacks has also given Global Net Lease an industry rank of 189 out of 265 based on the ratings given to related companies.
A number of analysts have recently weighed in on GNL shares. Zacks Investment Research raised Global Net Lease from a “strong sell” rating to a “hold” rating in a research note on Monday, July 10th. BidaskClub lowered Global Net Lease from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Finally, FBR & Co reaffirmed a “hold” rating on shares of Global Net Lease in a research note on Tuesday, October 10th.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. boosted its position in Global Net Lease by 166.9% in the first quarter. Goldman Sachs Group Inc. now owns 275,497 shares of the financial services provider’s stock worth $6,634,000 after purchasing an additional 172,266 shares during the last quarter. Balyasny Asset Management LLC purchased a new position in Global Net Lease in the second quarter worth about $7,074,000. IndexIQ Advisors LLC boosted its position in Global Net Lease by 12.0% in the second quarter. IndexIQ Advisors LLC now owns 80,435 shares of the financial services provider’s stock worth $1,789,000 after purchasing an additional 8,603 shares during the last quarter. State of Alaska Department of Revenue boosted its position in Global Net Lease by 11.3% in the second quarter. State of Alaska Department of Revenue now owns 35,276 shares of the financial services provider’s stock worth $784,000 after purchasing an additional 3,570 shares during the last quarter. Finally, BNP Paribas Arbitrage SA boosted its position in Global Net Lease by 41.0% in the second quarter. BNP Paribas Arbitrage SA now owns 30,811 shares of the financial services provider’s stock worth $685,000 after purchasing an additional 8,953 shares during the last quarter. Institutional investors own 42.55% of the company’s stock.
Shares of Global Net Lease (GNL) traded down $0.12 on Friday, reaching $21.80. The company’s stock had a trading volume of 179,622 shares, compared to its average volume of 215,353. The firm has a market cap of $1,466.86, a PE ratio of 9.65 and a beta of 0.68. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.09 and a quick ratio of 0.09.
The business also recently declared a monthly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Wednesday, November 8th will be issued a dividend of $0.1775 per share. The ex-dividend date is Tuesday, November 7th. This represents a $2.13 annualized dividend and a dividend yield of 9.77%. Global Net Lease’s payout ratio is presently 349.16%.
About Global Net Lease
Global Net Lease, Inc is a real estate investment trust. The Company’s business consists of owning, managing, operating, leasing, acquiring, investing in and disposing of real estate assets. It owns and invests in commercial properties principally in the United States, the United Kingdom and continental Europe that are then leased to companies.
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