Global Net Lease (NYSE:GNL) Hits New 12-Month Low – Here’s Why

Global Net Lease, Inc. (NYSE:GNL – Get Free Report)’s stock price reached a new 52-week low on Tuesday. The stock traded as low as $6.78 and last traded at $6.8650, with a volume of 86,556 shares changing hands. The stock had previously closed at $6.87.

Analyst Upgrades and Downgrades

GNL has been the subject of a number of recent analyst reports. Cantor Fitzgerald dropped their price objective on Global Net Lease from $11.00 to $9.00 and set an “overweight” rating for the company in a report on Friday. Huntington began coverage on shares of Global Net Lease in a report on Wednesday, November 4th. They set a “hold” rating on the stock. BMO Capital Markets upgraded shares of Global Net Lease from a “market perform” rating to an “outperform” rating and set a $10.00 target price for the company in a report on Monday, August 17th. Finally, Citizens Jmp reiterated a “market outperform” rating and set a $10.00 price objective on shares of Global Net Lease in a research note on Monday, August 31st. Four equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, Global Net Lease presently has a consensus rating of “Moderate Buy” and an average target price of $9.75.

View Our Latest Stock Analysis on Global Net Lease

Global Net Lease Stock Performance

The firm’s fifty day simple moving average is $8.06 and its 200 day simple moving average is $8.99. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.16 and a quick ratio of 0.16. The company has a market capitalization of $1.44 billion, a PE ratio of -25.35 and a beta of 1.09.

Global Net Lease Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 16th. Stockholders of record on Monday, October 12th were issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 11.1%. The ex-dividend date of this dividend was Friday, October 9th. Global Net Lease’s payout ratio is -281.48%.

Hedge Funds Weigh In On Global Net Lease

A number of large investors have recently bought and sold shares of GNL. Renaissance Technologies LLC lifted its stake in Global Net Lease by 158.9% in the 1st quarter. Renaissance Technologies LLC now owns 1,366,133 shares of the financial services provider’s stock valued at $12,787,000 after buying an additional 838,500 shares in the last quarter. Ameritas Advisory Services LLC increased its stake in Global Net Lease by 387.9% during the 2nd quarter. Ameritas Advisory Services LLC now owns 84,174 shares of the financial services provider’s stock worth $753,000 after buying an additional 66,921 shares in the last quarter. Quantinno Capital Management LP increased its stake in Global Net Lease by 107.9% during the 1st quarter. Quantinno Capital Management LP now owns 242,224 shares of the financial services provider’s stock worth $2,267,000 after buying an additional 125,721 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in Global Net Lease during the 2nd quarter worth approximately $1,969,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of Global Net Lease during the second quarter valued at approximately $11,232,000. Institutional investors and hedge funds own 61.19% of the company’s stock.

About Global Net Lease

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