Global Net Lease (NYSE:GNL) Rating Increased to Strong-Buy at Citizens Jmp

Global Net Lease (NYSE:GNLGet Free Report) was upgraded by stock analysts at Citizens Jmp from a “hold” rating to a “strong-buy” rating in a research note issued on Tuesday,Zacks.com reports.

Several other research firms have also recently commented on GNL. JMP Securities raised Global Net Lease from a “market perform” rating to an “outperform” rating and set a $9.00 target price for the company in a research note on Tuesday. Truist Financial lowered their price objective on shares of Global Net Lease from $8.50 to $8.00 and set a “hold” rating for the company in a research note on Friday, November 29th. Three investment analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Global Net Lease has a consensus rating of “Moderate Buy” and an average price target of $9.50.

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Global Net Lease Trading Down 3.4 %

NYSE GNL opened at $7.04 on Tuesday. Global Net Lease has a 12 month low of $6.52 and a 12 month high of $10.19. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 0.70. The firm has a market capitalization of $1.62 billion, a PE ratio of -7.49, a price-to-earnings-growth ratio of 0.93 and a beta of 1.34. The business’s 50-day moving average price is $7.68 and its two-hundred day moving average price is $7.98.

Global Net Lease (NYSE:GNLGet Free Report) last released its quarterly earnings results on Wednesday, November 6th. The financial services provider reported ($0.33) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.65). The firm had revenue of $196.56 million for the quarter, compared to the consensus estimate of $198.76 million. Global Net Lease had a negative return on equity of 7.04% and a negative net margin of 21.37%. During the same quarter in the previous year, the business posted $0.36 EPS. On average, analysts expect that Global Net Lease will post 1.27 EPS for the current year.

Insiders Place Their Bets

In other news, major shareholder Nicholas S. Schorsch purchased 100,000 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The shares were bought at an average cost of $7.72 per share, with a total value of $772,000.00. Following the completion of the transaction, the insider now directly owns 1,829,073 shares of the company’s stock, valued at approximately $14,120,443.56. This trade represents a 5.78 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.31% of the company’s stock.

Hedge Funds Weigh In On Global Net Lease

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Virtu Financial LLC bought a new stake in shares of Global Net Lease during the 3rd quarter worth $114,000. McIlrath & Eck LLC purchased a new stake in shares of Global Net Lease during the 3rd quarter valued at approximately $67,000. Sunbelt Securities Inc. lifted its position in shares of Global Net Lease by 10.9% during the third quarter. Sunbelt Securities Inc. now owns 16,023 shares of the financial services provider’s stock worth $135,000 after acquiring an additional 1,574 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Global Net Lease by 1.9% during the 3rd quarter. Geode Capital Management LLC now owns 5,093,659 shares of the financial services provider’s stock worth $42,897,000 after purchasing an additional 95,769 shares in the last quarter. Finally, Abel Hall LLC bought a new position in shares of Global Net Lease in the third quarter valued at approximately $93,000. Hedge funds and other institutional investors own 61.19% of the company’s stock.

About Global Net Lease

(Get Free Report)

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.

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