Truist Financial Issues Pessimistic Forecast for Global Net Lease (NYSE:GNL) Stock Price

Global Net Lease (NYSE:GNL) had its price objective decreased by research analysts at Truist Financial from $8.50 to $8.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a “hold” rating on the financial services provider’s stock. Truist Financial’s target price would indicate a potential upside of 7.96% from the company’s previous close.

Several other research analysts also recently issued reports on the company. StockNews.com raised Global Net Lease from a “sell” rating to a “hold” rating in a research note on Thursday, August 8th. B. Riley cut their target price on shares of Global Net Lease from $11.00 to $10.00 and set a “buy” rating for the company in a research report on Monday, August 12th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $9.67.

Global Net Lease Trading Down 1.5 %

Shares of GNL opened at $7.41 on Friday. Global Net Lease has a twelve month low of $6.52 and a twelve 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 $1.71 billion, a P/E ratio of -7.88, a PEG ratio of 0.99 and a beta of 1.38. The firm’s 50-day moving average is $8.00 and its two-hundred day moving average is $8.01.

Global Net Lease (NYSE:GNL) last released its quarterly earnings results on Wednesday, November 6th. The financial services provider reported ($0.33) earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.65). The firm had revenue of $196.56 million during the quarter, compared to analyst estimates 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 prior year, the company earned $0.36 EPS. On average, research analysts predict that Global Net Lease will post 1.27 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, major shareholder Nicholas S. Schorsch bought 100,000 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were purchased at an average price of $7.72 per share, for a total transaction of $772,000.00. Following the completion of the transaction, the insider now owns 1,829,073 shares in the company, valued at $14,120,443.56. The trade was a 5.78 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.31% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Bank of Montreal Can lifted its holdings in shares of Global Net Lease by 12,401.0% during the 2nd quarter. Bank of Montreal Can now owns 3,118,873 shares of the financial services provider’s stock worth $22,986,000 after acquiring an additional 3,093,924 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Global Net Lease by 392.8% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,048,596 shares of the financial services provider’s stock worth $8,829,000 after purchasing an additional 835,830 shares during the last quarter. TrueMark Investments LLC purchased a new position in Global Net Lease during the second quarter worth approximately $3,367,000. Waterfall Asset Management LLC acquired a new position in shares of Global Net Lease in the 2nd quarter valued at $2,122,000. Finally, Edgestream Partners L.P. grew its stake in shares of Global Net Lease by 58.1% during the 2nd quarter. Edgestream Partners L.P. now owns 772,479 shares of the financial services provider’s stock valued at $5,678,000 after buying an additional 283,739 shares during the period. Hedge funds and other 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.