Global Net Lease (NYSE:GNL) Hits New 12-Month Low - Time to Sell?

Global Net Lease, Inc. (NYSE:GNL - Get Free Report) shares hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $6.51 and last traded at $6.60, with a volume of 465947 shares changing hands. The stock had previously closed at $6.82.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Citizens Jmp upgraded Global Net Lease from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, December 17th. JMP Securities upgraded shares of Global Net Lease from a "market perform" rating to an "outperform" rating and set a $9.00 price target on the stock in a research note on Tuesday, December 17th. Two analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $9.50.

Global Net Lease Price Performance

The company has a 50 day moving average price of $7.59 and a 200-day moving average price of $7.58. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 0.70. The company has a market cap of $1.63 billion, a price-to-earnings ratio of -7.60 and a beta of 1.19.

Global Net Lease Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 16th. Investors of record on Friday, April 11th will be paid a $0.19 dividend. The ex-dividend date is Friday, April 11th. This represents a $0.76 annualized dividend and a dividend yield of 10.64%. Global Net Lease's dividend payout ratio is -100.00%.

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Insiders Place Their Bets

In other news, major shareholder Nicholas S. Schorsch sold 200,000 shares of the business's stock in a transaction that occurred on Thursday, April 3rd. The shares were sold at an average price of $7.95, for a total value of $1,590,000.00. Following the transaction, the insider now owns 1,629,073 shares in the company, valued at approximately $12,951,130.35. The trade was a 10.93 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.31% of the company's stock.

Hedge Funds Weigh In On Global Net Lease

A number of hedge funds have recently bought and sold shares of the company. Helix Partners Management LP bought a new position in shares of Global Net Lease in the 4th quarter worth about $24,455,000. Taconic Capital Advisors LP acquired a new stake in Global Net Lease during the fourth quarter worth approximately $7,300,000. JPMorgan Chase & Co. increased its holdings in Global Net Lease by 107.3% in the fourth quarter. JPMorgan Chase & Co. now owns 1,269,118 shares of the financial services provider's stock worth $9,265,000 after purchasing an additional 656,890 shares in the last quarter. Marshall Wace LLP acquired a new position in Global Net Lease in the fourth quarter valued at approximately $4,021,000. Finally, Northern Trust Corp boosted its holdings in shares of Global Net Lease by 26.3% during the 4th quarter. Northern Trust Corp now owns 2,612,357 shares of the financial services provider's stock worth $19,070,000 after buying an additional 544,719 shares in the last quarter. Institutional investors own 61.19% of the company's stock.

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.