Global Net Lease (NYSE:GNL) Price Target Lowered to $10.00 at B. Riley

Global Net Lease (NYSE:GNL) had its target price decreased by B. Riley from $11.00 to $10.00 in a research report report published on Monday, Benzinga reports. B. Riley currently has a buy rating on the financial services provider’s stock.

GNL has been the topic of several other research reports. JMP Securities restated a market perform rating on shares of Global Net Lease in a report on Wednesday, June 12th. StockNews.com raised shares of Global Net Lease from a sell rating to a hold rating in a research note on Thursday, August 8th. Finally, BMO Capital Markets reaffirmed an outperform rating and set a $11.00 price target on shares of Global Net Lease in a research note on Friday, June 28th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Global Net Lease currently has an average rating of Hold and a consensus price target of $10.75.

Global Net Lease Price Performance

GNL stock opened at $7.99 on Monday. The company has a fifty day simple moving average of $7.83 and a two-hundred day simple moving average of $7.62. Global Net Lease has a 52 week low of $6.52 and a 52 week high of $11.58. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.70. The firm has a market capitalization of $1.84 billion, a P/E ratio of -4.39, a price-to-earnings-growth ratio of 1.11 and a beta of 1.37.

Global Net Lease (NYSE:GNL) last released its quarterly earnings results on Tuesday, August 6th. The financial services provider reported ($0.20) EPS for the quarter, missing the consensus estimate of $0.32 by ($0.52). Global Net Lease had a negative return on equity of 10.08% and a negative net margin of 37.46%. The company had revenue of $203.29 million during the quarter, compared to analysts’ expectations of $204.80 million. During the same quarter in the prior year, the business posted $0.40 EPS. Analysts anticipate that Global Net Lease will post 1.29 earnings per share for the current fiscal year.

Global Net Lease Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 16th. Shareholders of record on Thursday, July 11th were paid a $0.275 dividend. This is an increase from Global Net Lease’s previous quarterly dividend of $0.06. This represents a $1.10 dividend on an annualized basis and a yield of 13.77%. The ex-dividend date of this dividend was Thursday, July 11th. Global Net Lease’s dividend payout ratio is currently -60.44%.

Insider Transactions at Global Net Lease

In related news, major shareholder Nicholas S. Schorsch sold 100,000 shares of the stock in a transaction that occurred on Wednesday, June 26th. The stock was sold at an average price of $7.02, for a total value of $702,000.00. Following the transaction, the insider now owns 1,829,073 shares of the company’s stock, valued at $12,840,092.46. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, major shareholder Nicholas S. Schorsch sold 100,000 shares of the company’s stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $7.02, for a total value of $702,000.00. Following the completion of the sale, the insider now directly owns 1,829,073 shares of the company’s stock, valued at $12,840,092.46. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Nicholas S. Schorsch sold 150,000 shares of the firm’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $7.19, for a total transaction of $1,078,500.00. Following the transaction, the insider now directly owns 2,079,073 shares in the company, valued at approximately $14,948,534.87. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,043,070 shares of company stock valued at $7,497,437. 0.31% of the stock is currently owned by company insiders.

Institutional Trading of Global Net Lease

A number of hedge funds have recently bought and sold shares of the stock. Scarborough Advisors LLC bought a new position in Global Net Lease in the fourth quarter worth about $25,000. GAMMA Investing LLC bought a new position in shares of Global Net Lease during the 4th quarter worth approximately $62,000. Verus Capital Partners LLC acquired a new stake in Global Net Lease in the second quarter valued at approximately $74,000. Atomi Financial Group Inc. acquired a new stake in Global Net Lease in the first quarter valued at approximately $81,000. Finally, Principal Securities Inc. purchased a new position in Global Net Lease in the fourth quarter worth $86,000. Hedge funds and other institutional investors 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 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.