Global Net Lease (GNL) Downgraded to Sell at Zacks Investment Research

Zacks Investment Research downgraded shares of Global Net Lease (NYSE:GNL) from a hold rating to a sell rating in a report issued on Wednesday.

According to Zacks, “Global Net Lease, Inc. is a real estate investment trust which focused on sale-leaseback properties primarily in the United States and Europe. Global Net Lease, Inc. is based in New York, United States. “

Several other research firms also recently commented on GNL. B. Riley set a $24.00 price target on shares of Global Net Lease and gave the stock a hold rating in a research note on Friday, August 10th. ValuEngine raised shares of Global Net Lease from a sell rating to a hold rating in a research note on Wednesday, July 4th.

GNL stock traded down $0.14 during trading on Wednesday, hitting $19.55. The company had a trading volume of 9,437 shares, compared to its average volume of 595,683. The company has a market capitalization of $1.49 billion, a PE ratio of 9.73 and a beta of 0.54. Global Net Lease has a 52-week low of $15.55 and a 52-week high of $22.53. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.08 and a quick ratio of 0.08.

Global Net Lease (NYSE:GNL) last posted its quarterly earnings results on Wednesday, August 8th. The financial services provider reported $0.08 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.52 by ($0.44). The company had revenue of $70.97 million during the quarter, compared to analysts’ expectations of $68.81 million. Global Net Lease had a return on equity of 1.69% and a net margin of 8.68%. Sell-side analysts forecast that Global Net Lease will post 2.05 EPS for the current fiscal year.

The firm also recently announced a monthly dividend, which will be paid on Thursday, November 15th. Shareholders of record on Tuesday, November 13th will be given a dividend of $0.1775 per share. This represents a $2.13 dividend on an annualized basis and a yield of 10.90%. The ex-dividend date of this dividend is Friday, November 9th. Global Net Lease’s dividend payout ratio (DPR) is 105.97%.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Eii Capital Management Inc. purchased a new position in shares of Global Net Lease in the 2nd quarter worth approximately $112,000. Clarus Wealth Advisors purchased a new position in shares of Global Net Lease in the 2nd quarter worth approximately $128,000. Advisors Asset Management Inc. grew its position in shares of Global Net Lease by 352.8% in the 2nd quarter. Advisors Asset Management Inc. now owns 20,659 shares of the financial services provider’s stock worth $188,000 after buying an additional 16,096 shares during the last quarter. Amalgamated Bank purchased a new position in shares of Global Net Lease in the 2nd quarter worth approximately $202,000. Finally, Profund Advisors LLC purchased a new position in shares of Global Net Lease in the 1st quarter worth approximately $220,000. 56.01% of the stock is currently owned by institutional investors and hedge funds.

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.

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