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

Global Net Lease (NYSE:GNL) was upgraded by equities researchers at Citizens Jmp from a “hold” rating to a “strong-buy” rating in a report issued on Tuesday,Zacks.com reports.

A number of other research firms have also recently issued reports on GNL. Truist Financial lowered their target price on Global Net Lease from $8.50 to $8.00 and set a “hold” rating for the company in a report on Friday, November 29th. JMP Securities raised Global Net Lease from a “market perform” rating to an “outperform” rating and set a $9.00 price target for the company in a research report on Tuesday. Three investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $9.50.

Global Net Lease Trading Down 3.4 %

NYSE:GNL opened at $7.04 on Tuesday. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 0.70. Global Net Lease has a 1-year low of $6.52 and a 1-year high of $10.19. The firm has a market capitalization of $1.62 billion, a price-to-earnings ratio of -7.49, a PEG 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:GNL) last issued its earnings results on Wednesday, November 6th. The financial services provider reported ($0.33) EPS for the quarter, missing the consensus estimate of $0.32 by ($0.65). Global Net Lease had a negative net margin of 21.37% and a negative return on equity of 7.04%. The firm had revenue of $196.56 million during the quarter, compared to the consensus estimate of $198.76 million. During the same period in the previous year, the company posted $0.36 EPS. On average, equities analysts expect that Global Net Lease will post 1.27 earnings per share for the current year.

Insider Transactions at Global Net Lease

In other Global Net Lease news, major shareholder Nicholas S. Schorsch acquired 100,000 shares of the business’s stock in a transaction on Monday, November 11th. The stock was purchased at an average price of $7.72 per share, with a total value of $772,000.00. Following the acquisition, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.31% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Global Net Lease

Several hedge funds have recently bought and sold shares of the company. Virtu Financial LLC acquired a new stake in shares of Global Net Lease in the 3rd quarter valued at approximately $114,000. McIlrath & Eck LLC acquired a new position in shares of Global Net Lease during the third quarter worth $67,000. Sunbelt Securities Inc. lifted its stake in shares of Global Net Lease by 10.9% in the 3rd quarter. Sunbelt Securities Inc. now owns 16,023 shares of the financial services provider’s stock valued at $135,000 after acquiring an additional 1,574 shares during the last quarter. Geode Capital Management LLC grew its position 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 acquiring an additional 95,769 shares during the last quarter. Finally, Abel Hall LLC acquired a new position in Global Net Lease in the 3rd quarter worth about $93,000. 61.19% of the stock is owned by institutional investors.

About Global Net Lease

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.