Global Net Lease (NYSE:GNL) Stock Rating Upgraded by JMP Securities

Global Net Lease (NYSE:GNL) was upgraded by research analysts at JMP Securities from a “market perform” rating to an “outperform” rating in a research note issued to investors on Tuesday, MarketBeat Ratings reports. The firm presently has a $9.00 price objective on the financial services provider’s stock. JMP Securities’ price objective would suggest a potential upside of 27.84% from the company’s previous close.

Separately, 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 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. According to data from MarketBeat, Global Net Lease has an average rating of “Moderate Buy” and an average target price of $9.50.

Global Net Lease Stock Down 3.4 %

GNL opened at $7.04 on Tuesday. The company has a market cap 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 company has a debt-to-equity ratio of 0.70, a quick ratio of 0.06 and a current ratio of 0.06. Global Net Lease has a 1 year low of $6.52 and a 1 year high of $10.19. The firm has a 50 day moving average price of $7.68 and a 200 day moving average price of $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 analysts’ consensus estimates 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 business had revenue of $196.56 million during the quarter, compared to analysts’ expectations of $198.76 million. During the same period in the prior year, the business posted $0.36 EPS. Sell-side analysts expect that Global Net Lease will post 1.27 earnings per share for the current year.

Insider Activity at Global Net Lease

In other Global Net Lease news, major shareholder Nicholas S. Schorsch bought 100,000 shares of the business’s stock in a transaction on Wednesday, October 2nd. The shares were bought at an average cost of $8.40 per share, with a total value of $840,000.00. Following the transaction, the insider now directly owns 1,729,073 shares in the company, valued at approximately $14,524,213.20. This trade represents a 6.14 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.31% of the stock is currently owned by company insiders.

Institutional Trading of Global Net Lease

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Geode Capital Management LLC increased its position in shares of Global Net Lease by 1.9% in 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 during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Global Net Lease by 4.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,058,850 shares of the financial services provider’s stock valued at $34,176,000 after buying an additional 166,247 shares during the last quarter. Bank of Montreal Can raised its stake 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 valued at $22,986,000 after buying an additional 3,093,924 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Global Net Lease by 0.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,607,268 shares of the financial services provider’s stock worth $11,813,000 after buying an additional 6,715 shares during the last quarter. Finally, Advisors Asset Management Inc. grew its position in shares of Global Net Lease by 12.2% in the 3rd quarter. Advisors Asset Management Inc. now owns 1,109,842 shares of the financial services provider’s stock worth $9,345,000 after acquiring an additional 120,610 shares in 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. 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.