Zacks Investment Research Upgrades Global Net Lease (GNL) to “Hold”

Global Net Lease (NYSE:GNL) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Monday.

According to Zacks, “Global Net Lease, Inc. is a real estate investment trust which focused on sale-leaseback properties primarily in the United States and Europe. Global Net Lease, Inc. is based in New York, United States. “

A number of other analysts have also recently commented on GNL. ValuEngine upgraded Global Net Lease from a “sell” rating to a “hold” rating in a research report on Wednesday, July 4th. B. Riley set a $24.00 target price on Global Net Lease and gave the stock a “hold” rating in a research report on Friday, August 10th.

Global Net Lease stock traded down $0.27 during midday trading on Monday, reaching $19.38. The company’s stock had a trading volume of 303,684 shares, compared to its average volume of 588,942. Global Net Lease has a fifty-two week low of $15.55 and a fifty-two week high of $22.53. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.08 and a quick ratio of 0.08. The stock has a market cap of $1.40 billion, a PE ratio of 9.64 and a beta of 0.54.

Global Net Lease (NYSE:GNL) last posted its quarterly earnings results on Wednesday, August 8th. The financial services provider reported $0.08 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.52 by ($0.44). Global Net Lease had a net margin of 8.68% and a return on equity of 1.69%. The business had revenue of $70.97 million during the quarter, compared to analyst estimates of $68.81 million. On average, research analysts expect that Global Net Lease will post 2.05 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently bought and sold shares of GNL. Northern Trust Corp increased its position in shares of Global Net Lease by 5.6% during the first quarter. Northern Trust Corp now owns 1,205,918 shares of the financial services provider’s stock worth $20,356,000 after purchasing an additional 64,229 shares in the last quarter. California Public Employees Retirement System increased its position in shares of Global Net Lease by 4.9% during the first quarter. California Public Employees Retirement System now owns 63,555 shares of the financial services provider’s stock worth $1,073,000 after purchasing an additional 2,975 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Global Net Lease by 10.8% during the first quarter. Dimensional Fund Advisors LP now owns 848,394 shares of the financial services provider’s stock worth $14,321,000 after purchasing an additional 82,599 shares in the last quarter. BNP Paribas Arbitrage SA increased its position in shares of Global Net Lease by 91.8% during the first quarter. BNP Paribas Arbitrage SA now owns 28,782 shares of the financial services provider’s stock worth $486,000 after purchasing an additional 13,777 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its position in shares of Global Net Lease by 183.7% during the first quarter. Russell Investments Group Ltd. now owns 36,600 shares of the financial services provider’s stock worth $618,000 after purchasing an additional 23,700 shares in the last quarter. Institutional investors and hedge funds own 56.15% 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 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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