Global Net Lease (NYSE:GNL) Raised to Outperform at JMP Securities

Global Net Lease (NYSE:GNL) was upgraded by JMP Securities from a “market perform” rating to an “outperform” rating in a research note issued to investors on Tuesday,Briefing.com Automated Import reports. The firm presently has a $9.00 target price on the financial services provider’s stock. JMP Securities’ target price would suggest a potential upside of 26.40% from the company’s previous close.

Separately, Truist Financial reduced their target price on shares of 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 and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $9.50.

Global Net Lease Price Performance

Shares of NYSE GNL opened at $7.12 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. The stock has a fifty day simple moving average of $7.71 and a two-hundred day simple moving average of $7.99. Global Net Lease has a 1-year low of $6.52 and a 1-year high of $10.19. The firm has a market cap of $1.64 billion, a price-to-earnings ratio of -7.57, a price-to-earnings-growth ratio of 0.93 and a beta of 1.34.

Global Net Lease (NYSE:GNL) last posted its quarterly earnings results on Wednesday, November 6th. The financial services provider reported ($0.33) earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.65). Global Net Lease had a negative return on equity of 7.04% and a negative net margin of 21.37%. The firm had revenue of $196.56 million for the quarter, compared to the consensus estimate of $198.76 million. During the same quarter in the previous year, the company posted $0.36 EPS. Analysts anticipate that Global Net Lease will post 1.27 earnings per share for the current year.

Insider Transactions at Global Net Lease

In other news, major shareholder Nicholas S. Schorsch acquired 100,000 shares of Global Net Lease stock in a transaction that occurred on Wednesday, October 2nd. The stock was bought at an average price of $8.40 per share, with a total value of $840,000.00. Following the completion of the purchase, the insider now owns 1,729,073 shares in the company, valued at approximately $14,524,213.20. The trade was a 6.14 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.31% of the company’s stock.

Hedge Funds Weigh In On Global Net Lease

Several hedge funds have recently bought and sold shares of the company. Virtu Financial LLC purchased a new position in Global Net Lease during the third quarter valued at approximately $114,000. McIlrath & Eck LLC purchased a new position in Global Net Lease during the third quarter valued at approximately $67,000. Sunbelt Securities Inc. grew its stake in 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 worth $135,000 after buying an additional 1,574 shares in the last quarter. Geode Capital Management LLC grew its stake in 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 buying an additional 95,769 shares in the last quarter. Finally, Abel Hall LLC purchased a new position in Global Net Lease in the 3rd quarter worth approximately $93,000. 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.