Global Net Lease (NYSE:GNL) Raised to “Hold” at StockNews.com

Global Net Lease (NYSE:GNL) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Thursday.

Several other brokerages have also recently issued reports on GNL. BMO Capital Markets reaffirmed an “outperform” rating and set a $11.00 price objective on shares of Global Net Lease in a research note on Friday, June 28th. JMP Securities restated a “market perform” rating on shares of Global Net Lease in a report on Wednesday, June 12th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, Global Net Lease has a consensus rating of “Hold” and a consensus price target of $11.00.

Global Net Lease Stock Up 1.0 %

GNL stock traded up $0.08 during trading on Thursday, hitting $8.17. 1,240,126 shares of the company’s stock traded hands, compared to its average volume of 1,540,484. The firm has a market capitalization of $1.88 billion, a P/E ratio of -4.49, a PEG ratio of 1.11 and a beta of 1.37. Global Net Lease has a 1 year low of $6.52 and a 1 year high of $11.58. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.70. The business has a fifty day simple moving average of $7.81 and a two-hundred day simple moving average of $7.65.

Global Net Lease (NYSE:GNL) last posted its quarterly earnings data on Tuesday, August 6th. The financial services provider reported ($0.20) EPS for the quarter, missing the consensus estimate of $0.32 by ($0.52). Global Net Lease had a negative return on equity of 10.08% and a negative net margin of 37.46%. The company had revenue of $203.29 million for the quarter, compared to analyst estimates of $204.80 million. During the same quarter in the previous year, the firm posted $0.40 earnings per share. Sell-side analysts anticipate that Global Net Lease will post 1.29 EPS for the current year.

Insider Buying and Selling

In other news, major shareholder Nicholas S. Schorsch sold 200,000 shares of the firm’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of $7.16, for a total transaction of $1,432,000.00. Following the sale, the insider now owns 3,201,694 shares in the company, valued at $22,924,129.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, major shareholder Nicholas S. Schorsch sold 433,350 shares of the firm’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $7.19, for a total transaction of $3,115,786.50. Following the completion of the sale, the insider now directly owns 2,679,073 shares in the company, valued at $19,262,534.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Nicholas S. Schorsch sold 200,000 shares of the firm’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of $7.16, for a total transaction of $1,432,000.00. Following the transaction, the insider now directly owns 3,201,694 shares of the company’s stock, valued at $22,924,129.04. The disclosure for this sale can be found here. Insiders have sold a total of 1,043,070 shares of company stock worth $7,497,437 in the last quarter. Company insiders own 0.31% of the company’s stock.

Institutional Investors Weigh In On Global Net Lease

Institutional investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in shares of Global Net Lease by 10.3% in the fourth quarter. Vanguard Group Inc. now owns 33,932,387 shares of the financial services provider’s stock valued at $337,627,000 after acquiring an additional 3,162,310 shares in the last quarter. Corient Private Wealth LLC boosted its holdings in shares of Global Net Lease by 3,410.4% during the fourth quarter. Corient Private Wealth LLC now owns 2,688,951 shares of the financial services provider’s stock worth $26,755,000 after purchasing an additional 2,612,351 shares during the period. Norges Bank purchased a new position in shares of Global Net Lease during the 4th quarter valued at $9,378,000. Edgestream Partners L.P. purchased a new stake in shares of Global Net Lease during the 1st quarter worth about $3,798,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Global Net Lease by 25.9% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,236,299 shares of the financial services provider’s stock valued at $17,376,000 after buying an additional 460,717 shares during the last quarter. Institutional investors own 61.19% of the company’s stock.

About Global Net Lease

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.