Global Net Lease (NYSE:GNL – Get Free Report) had its price objective decreased by Truist Financial from $8.50 to $8.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has a “hold” rating on the financial services provider’s stock. Truist Financial’s price target would suggest a potential upside of 7.96% from the company’s previous close.
A number of other equities analysts also recently issued reports on the company. StockNews.com raised Global Net Lease from a “sell” rating to a “hold” rating in a report on Thursday, August 8th. B. Riley reduced their target price on Global Net Lease from $11.00 to $10.00 and set a “buy” rating for the company in a report on Monday, August 12th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Global Net Lease presently has an average rating of “Hold” and an average target price of $9.67.
Check Out Our Latest Stock Report on Global Net Lease
Global Net Lease Trading Down 1.5 %
Global Net Lease (NYSE:GNL – Get Free Report) last announced its quarterly earnings data 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 company had revenue of $196.56 million during the quarter, compared to analyst estimates of $198.76 million. Global Net Lease had a negative net margin of 21.37% and a negative return on equity of 7.04%. During the same quarter in the previous year, the business posted $0.36 earnings per share. Research analysts expect that Global Net Lease will post 1.27 earnings per share for the current fiscal year.
Insider Buying and Selling at Global Net Lease
In other news, major shareholder Nicholas S. Schorsch purchased 100,000 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were acquired at an average price of $7.72 per share, for a total transaction of $772,000.00. Following the acquisition, the insider now directly owns 1,829,073 shares in the company, valued at approximately $14,120,443.56. The trade was a 5.78 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.31% of the stock is owned by corporate insiders.
Institutional Trading of Global Net Lease
Several large investors have recently bought and sold shares of the company. Bank of Montreal Can raised its position in Global Net Lease by 12,401.0% during the second 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 last quarter. 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 buying an additional 835,830 shares in the last quarter. TrueMark Investments LLC acquired a new position in shares of Global Net Lease in the second quarter worth $3,367,000. Waterfall Asset Management LLC acquired a new stake in shares of Global Net Lease during the second quarter valued at $2,122,000. Finally, Edgestream Partners L.P. increased its position in 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 worth $5,678,000 after purchasing an additional 283,739 shares in the last quarter. Institutional investors and hedge funds 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. 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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