Global Net Lease (NYSE:GNL) Shares Gap Down – Should You Sell?

Global Net Lease, Inc. (NYSE:GNL)’s stock price gapped down before the market opened on Friday . The stock had previously closed at $8.39, but opened at $8.15. Global Net Lease shares last traded at $8.17, with a volume of 100,013 shares trading hands.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on GNL shares. BMO Capital Markets reissued an “outperform” rating and issued a $11.00 price target on shares of Global Net Lease in a report on Friday, June 28th. Truist Financial lifted their target price on shares of Global Net Lease from $8.00 to $8.50 and gave the company a “hold” rating in a research report on Wednesday, August 21st. B. Riley reduced their price target on shares of Global Net Lease from $11.00 to $10.00 and set a “buy” rating for the company in a research report on Monday, August 12th. Finally, StockNews.com raised shares of Global Net Lease from a “sell” rating to a “hold” rating in a research note on Thursday, August 8th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $9.83.

Global Net Lease Stock Up 0.7 %

The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.72. The business has a fifty day simple moving average of $8.50 and a two-hundred day simple moving average of $7.85. The company has a market cap of $1.89 billion, a PE ratio of -4.88, a price-to-earnings-growth ratio of 1.12 and a beta of 1.37.

Global Net Lease (NYSE:GNL) last posted its quarterly earnings results on Tuesday, August 6th. The financial services provider reported ($0.20) earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.52). The business had revenue of $203.29 million during the quarter, compared to analysts’ expectations of $204.80 million. Global Net Lease had a negative return on equity of 9.41% and a negative net margin of 33.26%. During the same period in the prior year, the business posted $0.40 earnings per share. As a group, equities research analysts predict that Global Net Lease, Inc. will post 1.27 earnings per share for the current year.

Global Net Lease Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 16th. Stockholders of record on Friday, October 11th will be issued a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 13.45%. The ex-dividend date is Friday, October 11th. Global Net Lease’s dividend payout ratio is currently -63.95%.

Insider Activity

In other news, major shareholder Nicholas S. Schorsch acquired 100,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was purchased at an average price of $8.40 per share, with a total value of $840,000.00. Following the completion of the acquisition, the insider now owns 1,729,073 shares of the company’s stock, valued at $14,524,213.20. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.31% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Sunbelt Securities Inc. raised its position in Global Net Lease by 10.3% in the second quarter. Sunbelt Securities Inc. now owns 14,449 shares of the financial services provider’s stock valued at $106,000 after purchasing an additional 1,351 shares during the period. Louisiana State Employees Retirement System raised its holdings in Global Net Lease by 1.7% in the 2nd quarter. Louisiana State Employees Retirement System now owns 98,300 shares of the financial services provider’s stock valued at $723,000 after buying an additional 1,600 shares during the period. Texas Permanent School Fund Corp raised its holdings in Global Net Lease by 1.0% in the 1st quarter. Texas Permanent School Fund Corp now owns 170,328 shares of the financial services provider’s stock valued at $1,323,000 after buying an additional 1,689 shares during the period. Arkadios Wealth Advisors lifted its position in Global Net Lease by 3.2% in the second quarter. Arkadios Wealth Advisors now owns 58,017 shares of the financial services provider’s stock valued at $426,000 after buying an additional 1,789 shares during the last quarter. Finally, GAMMA Investing LLC boosted its stake in Global Net Lease by 60.1% during the third quarter. GAMMA Investing LLC now owns 5,054 shares of the financial services provider’s stock worth $43,000 after buying an additional 1,897 shares during the period. 61.19% of the stock is currently owned by institutional investors and hedge funds.

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.