BNP Paribas Initiates Coverage on Global Net Lease (NYSE:GNL)

BNP Paribas initiated coverage on shares of Global Net Lease (NYSE:GNL – Get Rating) in a research note released on Thursday, MarketBeat reports. The brokerage issued an underperform rating and a $13.00 price objective on the financial services provider’s stock.

Separately, StockNews.com assumed coverage on shares of Global Net Lease in a research note on Thursday. They issued a hold rating on the stock.

Global Net Lease Stock Down 3.3 %

NYSE GNL opened at $12.27 on Thursday. Global Net Lease has a 1-year low of $9.82 and a 1-year high of $16.01. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 0.46. The firm’s fifty day simple moving average is $14.09 and its 200-day simple moving average is $13.07.

Global Net Lease Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 17th. Shareholders of record on Friday, January 13th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 13.04%. This is an increase from Global Net Lease’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend was Thursday, January 12th. Global Net Lease’s dividend payout ratio is presently -1,777.58%.

Hedge Funds Weigh In On Global Net Lease

Hedge funds have recently bought and sold shares of the business. Parallel Advisors LLC increased its position in Global Net Lease by 41,628.6% during the fourth quarter. Parallel Advisors LLC now owns 2,921 shares of the financial services provider’s stock worth $37,000 after buying an additional 2,914 shares during the last quarter. Point72 Hong Kong Ltd acquired a new position in Global Net Lease during the third quarter worth $39,000. Belpointe Asset Management LLC acquired a new position in Global Net Lease during the fourth quarter worth $52,000. Quadrant Capital Group LLC increased its position in Global Net Lease by 165.1% during the fourth quarter. Quadrant Capital Group LLC now owns 4,755 shares of the financial services provider’s stock worth $60,000 after buying an additional 2,961 shares during the last quarter. Finally, Raleigh Capital Management Inc. increased its position in Global Net Lease by 100.0% during the fourth quarter. Raleigh Capital Management Inc. now owns 5,340 shares of the financial services provider’s stock worth $67,000 after buying an additional 2,670 shares during the last quarter. 70.40% of the stock is owned by institutional investors and hedge funds.

Global Net Lease Company Profile

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Global Net Lease, Inc engages in real estate investment service. It focuses 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.