Global Net Lease (NYSE:GNL) Stock Passes Above 50-Day Moving Average – What’s Next?

Global Net Lease, Inc. (NYSE:GNL) shares passed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $9.46 and traded as high as $9.69. Global Net Lease shares last traded at $9.6250, with a volume of 2,113,417 shares traded.

Analysts Set New Price Targets

Several equities analysts recently issued reports on GNL shares. Cantor Fitzgerald raised Global Net Lease to a “strong-buy” rating in a report on Wednesday, February 4th. Citizens Jmp upped their target price on Global Net Lease from $9.00 to $10.00 and gave the company a “market outperform” rating in a report on Monday, January 12th. Wall Street Zen upgraded Global Net Lease from a “sell” rating to a “buy” rating in a research report on Saturday, February 28th. Finally, Citigroup reaffirmed an “outperform” rating on shares of Global Net Lease in a research note on Monday, January 12th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, Global Net Lease currently has a consensus rating of “Buy” and a consensus price target of $10.00.

Global Net Lease Stock Up 2.5%

The company has a debt-to-equity ratio of 0.19, a current ratio of 0.09 and a quick ratio of 0.09. The firm’s 50-day moving average price is $9.46 and its 200 day moving average price is $8.56. The firm has a market capitalization of $2.06 billion, a price-to-earnings ratio of -8.09 and a beta of 1.11.

Global Net Lease Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 16th. Shareholders of record on Monday, January 12th were issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 7.9%. The ex-dividend date was Monday, January 12th. Global Net Lease’s dividend payout ratio is -63.87%.

Hedge Funds Weigh In On Global Net Lease

Several hedge funds have recently bought and sold shares of the stock. Aberdeen Group plc raised its stake in Global Net Lease by 86.9% in the 3rd quarter. Aberdeen Group plc now owns 241,385 shares of the financial services provider’s stock valued at $1,949,000 after purchasing an additional 112,203 shares during the last quarter. Waterfall Asset Management LLC boosted its stake in shares of Global Net Lease by 71.1% during the 3rd quarter. Waterfall Asset Management LLC now owns 342,259 shares of the financial services provider’s stock worth $2,783,000 after purchasing an additional 142,259 shares during the last quarter. Corient Private Wealth LLC grew its holdings in shares of 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 buying an additional 2,218,115 shares in the last quarter. Teacher Retirement System of Texas grew its holdings in shares of Global Net Lease by 199.5% during the third quarter. Teacher Retirement System of Texas now owns 207,314 shares of the financial services provider’s stock worth $1,685,000 after buying an additional 138,092 shares in the last quarter. Finally, Ritholtz Wealth Management raised its position in shares of Global Net Lease by 49.2% in the third quarter. Ritholtz Wealth Management now owns 330,354 shares of the financial services provider’s stock valued at $2,686,000 after buying an additional 108,972 shares during the last quarter. Hedge funds and other institutional investors own 61.19% of the company’s stock.

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.