Global Net Lease (NYSE:GNL) Reaches New 12-Month High – Here’s What Happened

Global Net Lease, Inc. (NYSE:GNL) shares reached a new 52-week high during trading on Wednesday . The stock traded as high as $8.38 and last traded at $8.3450, with a volume of 983897 shares. The stock had previously closed at $8.18.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Wall Street Zen lowered shares of Global Net Lease from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. KeyCorp raised Global Net Lease from a “sector weight” rating to an “overweight” rating and set a $9.00 price target for the company in a report on Tuesday, August 19th. Finally, Colliers Securities upgraded Global Net Lease from a “neutral” rating to a “buy” rating and set a $12.00 price objective on the stock in a research note on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $9.20.

Global Net Lease Stock Up 2.0%

The stock has a 50-day moving average of $7.88 and a 200-day moving average of $7.70. The company has a quick ratio of 0.15, a current ratio of 0.15 and a debt-to-equity ratio of 0.93. The company has a market cap of $1.83 billion, a PE ratio of -5.84 and a beta of 1.19.

Global Net Lease (NYSE:GNL) last posted its earnings results on Wednesday, November 5th. The financial services provider reported $0.24 EPS for the quarter, topping the consensus estimate of $0.21 by $0.03. Global Net Lease had a negative return on equity of 10.27% and a negative net margin of 48.52%.The business had revenue of $121.01 million during the quarter, compared to analysts’ expectations of $118.86 million. Global Net Lease has set its FY 2025 guidance at 0.950-0.970 EPS. Sell-side analysts predict that Global Net Lease, Inc. will post 1.26 earnings per share for the current fiscal year.

Global Net Lease Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 16th. Investors of record on Monday, October 13th were paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 9.1%. The ex-dividend date of this dividend was Friday, October 10th. Global Net Lease’s dividend payout ratio (DPR) is currently -53.15%.

Hedge Funds Weigh In On Global Net Lease

Institutional investors have recently made changes to their positions in the stock. Conversant Capital LLC purchased a new position in shares of Global Net Lease in the 1st quarter worth about $20,555,000. Corient Private Wealth LLC lifted its position 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 worth $17,092,000 after buying an additional 2,218,115 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in Global Net Lease in the third quarter worth approximately $15,933,000. Brown Advisory Inc. grew 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 valued at $31,931,000 after acquiring an additional 1,924,238 shares during the last quarter. Finally, Marshall Wace LLP bought a new position in Global Net Lease during the second quarter valued at approximately $7,525,000. Institutional investors own 61.19% of the company’s stock.

Global Net Lease Company Profile

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.