Global Net Lease (NYSE:GNL) Shares Gap Down – Here’s What Happened

Global Net Lease, Inc. (NYSE:GNL)’s share price gapped down prior to trading on Monday . The stock had previously closed at $9.53, but opened at $9.10. Global Net Lease shares last traded at $9.1650, with a volume of 201,819 shares.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Wall Street Zen lowered Global Net Lease from a “buy” rating to a “hold” rating in a research note on Saturday, March 28th. Citigroup reaffirmed an “outperform” rating on shares of Global Net Lease in a research note on Monday, January 12th. Cantor Fitzgerald raised Global Net Lease to a “strong-buy” rating in a research note on Wednesday, February 4th. Citizens Jmp lifted their price objective on Global Net Lease from $9.00 to $10.00 and gave the stock a “market outperform” rating in a research note on Monday, January 12th. Finally, BMO Capital Markets lowered Global Net Lease from an “outperform” rating to a “market perform” rating and set a $10.00 price objective on the stock. in a research note on Friday, April 17th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $10.40.

Global Net Lease Stock Performance

The firm has a market capitalization of $1.95 billion, a P/E ratio of -7.70 and a beta of 1.03. The stock has a fifty day simple moving average of $9.47 and a two-hundred day simple moving average of $8.89. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.09 and a quick ratio of 0.09.

Global Net Lease Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 17th. Shareholders of record on Monday, April 13th were issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 8.3%. The ex-dividend date was Monday, April 13th. Global Net Lease’s payout ratio is presently -63.87%.

Institutional Investors Weigh In On Global Net Lease

A number of hedge funds have recently added to or reduced their stakes in the business. Sound Income Strategies LLC increased its holdings in shares of Global Net Lease by 18.4% during the fourth quarter. Sound Income Strategies LLC now owns 7,971 shares of the financial services provider’s stock valued at $75,000 after acquiring an additional 1,239 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Global Net Lease by 31.4% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,913 shares of the financial services provider’s stock valued at $51,000 after acquiring an additional 1,412 shares in the last quarter. BTC Capital Management Inc. increased its holdings in shares of Global Net Lease by 1.6% during the fourth quarter. BTC Capital Management Inc. now owns 94,574 shares of the financial services provider’s stock valued at $814,000 after acquiring an additional 1,482 shares in the last quarter. Arrow Investment Advisors LLC grew its holdings in Global Net Lease by 5.7% during the fourth quarter. Arrow Investment Advisors LLC now owns 27,969 shares of the financial services provider’s stock worth $241,000 after buying an additional 1,518 shares in the last quarter. Finally, Essex Financial Services Inc. grew its holdings in Global Net Lease by 9.6% during the first quarter. Essex Financial Services Inc. now owns 18,005 shares of the financial services provider’s stock worth $169,000 after buying an additional 1,577 shares in the last quarter. 61.19% of the stock is currently owned by institutional investors.

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.