Zacks Investment Research Lowers Global Net Lease (NYSE:GNL) to Sell

Zacks Investment Research lowered shares of Global Net Lease (NYSE:GNL) from a hold rating to a sell rating in a research report released on Wednesday, Zacks.com reports.

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. “

Separately, B. Riley reiterated a buy rating on shares of RumbleON in a report on Friday, March 15th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. The company has an average rating of Hold and a consensus price target of $24.00.



Shares of GNL opened at $19.10 on Wednesday. Global Net Lease has a 12-month low of $16.95 and a 12-month high of $22.53. The stock has a 50-day moving average price of $19.34. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.35. The firm has a market cap of $1.60 billion, a PE ratio of 8.93 and a beta of 0.71.

Global Net Lease (NYSE:GNL) last posted its earnings results on Thursday, May 9th. The financial services provider reported $0.07 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.43). The firm had revenue of $75.47 million during the quarter, compared to the consensus estimate of $75.92 million. Global Net Lease had a net margin of 4.96% and a return on equity of 1.00%. As a group, equities analysts forecast that Global Net Lease will post 1.92 earnings per share for the current fiscal year.

The firm also recently declared a monthly dividend, which will be paid on Monday, July 15th. Stockholders of record on Thursday, July 11th will be issued a dividend of $0.533 per share. This represents a $6.40 dividend on an annualized basis and a dividend yield of 33.49%. The ex-dividend date of this dividend is Wednesday, July 10th. This is a positive change from Global Net Lease’s previous monthly dividend of $0.06. Global Net Lease’s payout ratio is 298.60%.

Several institutional investors have recently modified their holdings of GNL. 6 Meridian raised its holdings in shares of Global Net Lease by 2.8% in the 2nd quarter. 6 Meridian now owns 24,337 shares of the financial services provider’s stock worth $477,000 after acquiring an additional 656 shares during the last quarter. Amundi Pioneer Asset Management Inc. raised its stake in shares of Global Net Lease by 8.0% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 37,189 shares of the financial services provider’s stock worth $703,000 after purchasing an additional 2,758 shares during the last quarter. Metropolitan Life Insurance Co NY lifted its holdings in shares of Global Net Lease by 6.9% in the first quarter. Metropolitan Life Insurance Co NY now owns 29,236 shares of the financial services provider’s stock valued at $552,000 after purchasing an additional 1,896 shares in the last quarter. Marshall Wace LLP lifted its holdings in shares of Global Net Lease by 3,684.4% in the first quarter. Marshall Wace LLP now owns 99,114 shares of the financial services provider’s stock valued at $1,873,000 after purchasing an additional 96,495 shares in the last quarter. Finally, Belpointe Asset Management LLC boosted its position in shares of Global Net Lease by 11.5% during the first quarter. Belpointe Asset Management LLC now owns 6,868 shares of the financial services provider’s stock valued at $130,000 after buying an additional 711 shares during the last quarter. 63.32% of the stock is currently owned by institutional investors.

Global Net Lease Company Profile

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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