Citizens Jmp Upgrades Global Net Lease (NYSE:GNL) to “Strong-Buy”

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

Other research analysts have also issued reports about the company. Truist Financial cut their target price on Global Net Lease from $8.50 to $8.00 and set a “hold” rating on the stock in a research report on Friday, November 29th. JMP Securities upgraded Global Net Lease from a “market perform” rating to an “outperform” rating and set a $9.00 price objective on the stock in a report on Tuesday. Three equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $9.50.

Global Net Lease Stock Performance

Shares of GNL opened at $7.29 on Tuesday. The company has a 50-day simple moving average of $7.71 and a 200-day simple moving average of $7.99. Global Net Lease has a 52-week low of $6.52 and a 52-week high of $10.19. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 0.70. The company has a market capitalization of $1.68 billion, a PE ratio of -7.76, a P/E/G ratio of 0.93 and a beta of 1.34.

Global Net Lease (NYSE:GNL) last issued 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 for 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 firm earned $0.36 earnings per share. Equities research analysts predict that Global Net Lease will post 1.27 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Global Net Lease news, major shareholder Nicholas S. Schorsch bought 100,000 shares of Global Net Lease stock in a transaction dated Wednesday, October 2nd. The shares were acquired at an average cost of $8.40 per share, with a total value of $840,000.00. Following the acquisition, the insider now directly owns 1,729,073 shares of the company’s stock, valued at $14,524,213.20. The trade was a 6.14 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.31% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Geode Capital Management LLC raised its holdings 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 buying an additional 95,769 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Global Net Lease by 4.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,058,850 shares of the financial services provider’s stock worth $34,176,000 after acquiring an additional 166,247 shares in the last quarter. Bank of Montreal Can boosted its holdings in shares of Global Net Lease by 12,401.0% in the 2nd 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 during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of 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 acquiring an additional 6,715 shares during the last quarter. Finally, Advisors Asset Management Inc. increased its holdings in shares of Global Net Lease by 12.2% in the third quarter. Advisors Asset Management Inc. now owns 1,109,842 shares of the financial services provider’s stock valued at $9,345,000 after purchasing an additional 120,610 shares during the last quarter. 61.19% of the stock is owned by institutional investors and hedge funds.

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.