Analysts Set Global Net Lease, Inc. (NYSE:GNL) Target Price at $10.40

Global Net Lease, Inc. (NYSE:GNL) has been assigned an average rating of “Buy” from the six analysts that are presently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $10.40.

A number of equities analysts have weighed in on GNL shares. BMO Capital Markets downgraded shares of Global Net Lease from an “outperform” rating to a “market perform” rating and set a $10.00 target price for the company. in a research note on Friday, April 17th. Wall Street Zen downgraded shares of Global Net Lease from a “buy” rating to a “hold” rating in a research note on Saturday, March 28th. Citizens Jmp raised their target price on shares of 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. Cantor Fitzgerald raised shares of Global Net Lease to a “strong-buy” rating in a research note on Wednesday, February 4th. Finally, Citigroup reaffirmed an “outperform” rating on shares of Global Net Lease in a research note on Monday, January 12th.

Global Net Lease Price Performance

GNL stock opened at $9.50 on Wednesday. Global Net Lease has a 1 year low of $6.77 and a 1 year high of $10.04. The company has a market cap of $2.02 billion, a P/E ratio of -7.98 and a beta of 1.09. The firm has a 50-day moving average of $9.49 and a 200 day moving average of $8.82. 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 Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, April 17th. Shareholders of record on Monday, April 13th were paid a dividend of $0.19 per share. The ex-dividend date of this dividend was Monday, April 13th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 8.0%. Global Net Lease’s dividend payout ratio (DPR) is currently -63.87%.

Hedge Funds Weigh In On Global Net Lease

A number of institutional investors and hedge funds have recently made changes to their positions in GNL. Royal Bank of Canada increased its stake in shares of Global Net Lease by 60.7% during the first quarter. Royal Bank of Canada now owns 72,424 shares of the financial services provider’s stock valued at $582,000 after purchasing an additional 27,352 shares in the last quarter. Amundi increased its stake in shares of Global Net Lease by 12.3% during the first quarter. Amundi now owns 118,450 shares of the financial services provider’s stock valued at $924,000 after purchasing an additional 12,947 shares in the last quarter. AQR Capital Management LLC increased its stake in shares of Global Net Lease by 95.7% during the first quarter. AQR Capital Management LLC now owns 46,800 shares of the financial services provider’s stock valued at $376,000 after purchasing an additional 22,885 shares in the last quarter. Jones Financial Companies Lllp bought a new position in shares of Global Net Lease during the first quarter valued at approximately $296,000. Finally, United Services Automobile Association bought a new position in shares of Global Net Lease during the first quarter valued at approximately $94,000. 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.