Global Net Lease (NYSE:GNL) Downgraded to “Hold” Rating by Wall Street Zen

Wall Street Zen cut shares of Global Net Lease (NYSE:GNL) from a buy rating to a hold rating in a research report released on Saturday.

A number of other brokerages also recently commented on GNL. Cantor Fitzgerald raised Global Net Lease to a “strong-buy” rating in a research report on Wednesday, February 4th. Citigroup reissued an “outperform” rating on shares of Global Net Lease in a research report on Monday, January 12th. Finally, Citizens Jmp upped their price objective on Global Net Lease from $9.00 to $10.00 and gave the company a “market outperform” rating in a research note on Monday, January 12th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $10.00.

Global Net Lease Stock Performance

NYSE:GNL opened at $9.17 on Friday. Global Net Lease has a 52 week low of $6.51 and a 52 week high of $10.04. The firm has a 50-day moving average price of $9.52 and a two-hundred day moving average price of $8.64. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.09 and a current ratio of 0.09. The firm has a market cap of $1.96 billion, a price-to-earnings ratio of -7.71 and a beta of 1.11.

Global Net Lease Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 16th. Stockholders of record on Monday, January 12th were paid a dividend of $0.19 per share. The ex-dividend date was Monday, January 12th. This represents a $0.76 annualized dividend and a dividend yield of 8.3%. Global Net Lease’s dividend payout ratio (DPR) is presently -63.87%.

Hedge Funds Weigh In On Global Net Lease

Several institutional investors have recently bought and sold shares of GNL. Corient Private Wealth LLC raised its stake in Global Net Lease by 4,854.4% in the 2nd quarter. Corient Private Wealth LLC now owns 2,263,808 shares of the financial services provider’s stock valued at $17,092,000 after acquiring an additional 2,218,115 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Global Net Lease during the third quarter worth about $15,933,000. Brown Advisory Inc. boosted its position in Global Net Lease by 83.5% during the second quarter. Brown Advisory Inc. now owns 4,229,269 shares of the financial services provider’s stock worth $31,931,000 after purchasing an additional 1,924,238 shares during the period. Conversant Capital LLC increased its stake in shares of Global Net Lease by 69.9% in the second quarter. Conversant Capital LLC now owns 4,343,500 shares of the financial services provider’s stock worth $32,793,000 after purchasing an additional 1,786,902 shares in the last quarter. Finally, Marshall Wace LLP purchased a new position in shares of Global Net Lease in the second quarter worth about $7,525,000. 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.