Zacks Investment Research lowered shares of Global Net Lease (NYSE:GNL) from a hold rating to a sell rating in a research note published on Wednesday morning, 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 reaffirmed a buy rating on shares of RumbleON in a report on Friday, March 15th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average target price of $24.00.

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

Global Net Lease (NYSE:GNL) last released its quarterly earnings data 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 business had revenue of $75.47 million during the quarter, compared to analysts’ expectations 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 year.

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

Several hedge funds have recently added to or reduced their stakes in GNL. Oregon Public Employees Retirement Fund boosted its holdings in Global Net Lease by 1.8% during the first quarter. Oregon Public Employees Retirement Fund now owns 29,462 shares of the financial services provider’s stock worth $557,000 after buying an additional 532 shares in the last quarter. 6 Meridian boosted its holdings in Global Net Lease by 2.8% during the second quarter. 6 Meridian now owns 24,337 shares of the financial services provider’s stock worth $477,000 after buying an additional 656 shares in the last quarter. Belpointe Asset Management LLC boosted its holdings in 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 worth $130,000 after buying an additional 711 shares in the last quarter. Versant Capital Management Inc boosted its holdings in Global Net Lease by 274.7% during the first quarter. Versant Capital Management Inc now owns 1,641 shares of the financial services provider’s stock worth $31,000 after buying an additional 1,203 shares in the last quarter. Finally, Stevens Capital Management LP boosted its holdings in Global Net Lease by 7.8% during the first quarter. Stevens Capital Management LP now owns 19,163 shares of the financial services provider’s stock worth $362,000 after buying an additional 1,391 shares in the last quarter. 63.32% 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 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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