Global Net Lease (NYSE:GNL) Earns “Market Outperform” Rating from JMP Securities

JMP Securities reaffirmed their market outperform rating on shares of Global Net Lease (NYSE:GNL) in a research report released on Thursday,Benzinga reports. The brokerage currently has a $9.00 price target on the financial services provider’s stock.

Separately, B. Riley started coverage on Global Net Lease in a research report on Tuesday, April 22nd. They issued a “neutral” rating and a $8.00 target price on the stock. Three analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Global Net Lease presently has a consensus rating of “Moderate Buy” and a consensus price target of $9.00.

Global Net Lease Trading Down 1.7%

Shares of NYSE:GNL opened at $7.37 on Thursday. The firm has a market cap of $1.69 billion, a price-to-earnings ratio of -7.84 and a beta of 1.22. Global Net Lease has a 12 month low of $6.51 and a 12 month high of $9.11. The company’s fifty day simple moving average is $7.60 and its 200 day simple moving average is $7.49. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 0.70.

Global Net Lease (NYSE:GNL) last released its quarterly earnings results on Wednesday, May 7th. The financial services provider reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.06. The firm had revenue of $132.42 million for the quarter, compared to the consensus estimate of $187.40 million. Global Net Lease had a negative return on equity of 7.04% and a negative net margin of 21.37%. As a group, research analysts forecast that Global Net Lease will post 1.26 EPS for the current fiscal year.

Global Net Lease Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 16th. Shareholders of record on Friday, April 11th were paid a $0.19 dividend. The ex-dividend date was Friday, April 11th. This represents a $0.76 annualized dividend and a yield of 10.31%. Global Net Lease’s payout ratio is currently -51.35%.

Insiders Place Their Bets

In other Global Net Lease news, major shareholder Nicholas S. Schorsch sold 100,000 shares of the business’s stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $7.99, for a total transaction of $799,000.00. Following the transaction, the insider now owns 1,529,073 shares of the company’s stock, valued at $12,217,293.27. The trade was a 6.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders have sold 7,703,000 shares of company stock valued at $57,363,290 in the last three months. 0.37% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Global Net Lease

Several large investors have recently made changes to their positions in GNL. CoreCap Advisors LLC acquired a new position in Global Net Lease during the fourth quarter worth $25,000. Ameriflex Group Inc. bought a new position in shares of Global Net Lease in the 4th quarter valued at about $25,000. GF Fund Management CO. LTD. acquired a new position in shares of Global Net Lease during the 4th quarter worth about $26,000. US Bancorp DE increased its stake in shares of Global Net Lease by 363.2% during the 4th quarter. US Bancorp DE now owns 6,072 shares of the financial services provider’s stock worth $44,000 after purchasing an additional 4,761 shares during the last quarter. Finally, Creative Financial Designs Inc. ADV raised its holdings in shares of Global Net Lease by 119.4% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 6,659 shares of the financial services provider’s stock valued at $49,000 after purchasing an additional 3,624 shares during the period. Institutional investors and hedge funds own 61.19% of the company’s stock.

About Global Net Lease

Global Net Lease, Inc (NYSE: GNL) is a publicly traded real estate investment trust listed on the NYSE. The firm focused on acquiring a diversified global portfolio of commercial properties, with an emphasis on sale-leaseback transactions involving single tenant, mission critical income producing net-leased assets across the United States, Western and Northern Europe.