Global Net Lease’s (GNL) Market Perform Rating Reiterated at JMP Securities

Global Net Lease (NYSE:GNL)‘s stock had its “market perform” rating restated by stock analysts at JMP Securities in a research note issued to investors on Thursday, Benzinga reports.

Several other brokerages have also commented on GNL. BMO Capital Markets assumed coverage on Global Net Lease in a report on Tuesday, February 13th. They issued an “outperform” rating and a $11.00 price objective on the stock. BTIG Research cut shares of Global Net Lease from a “buy” rating to a “neutral” rating in a research report on Friday, March 8th. Finally, Truist Financial started coverage on shares of Global Net Lease in a research note on Thursday, March 28th. They set a “hold” rating and a $7.00 target price for the company. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, Global Net Lease has an average rating of “Hold” and a consensus target price of $12.00.

Global Net Lease Price Performance

Shares of Global Net Lease stock traded up $0.08 during trading hours on Thursday, reaching $6.66. The stock had a trading volume of 255,999 shares, compared to its average volume of 1,630,673. The stock’s 50 day moving average is $7.49 and its 200 day moving average is $8.38. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.66. Global Net Lease has a twelve month low of $6.52 and a twelve month high of $11.58. The firm has a market capitalization of $1.53 billion, a PE ratio of -3.85, a PEG ratio of 0.85 and a beta of 1.34.

Insiders Place Their Bets

In other news, major shareholder Nicholas S. Schorsch sold 176,577 shares of Global Net Lease stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $9.04, for a total transaction of $1,596,256.08. Following the transaction, the insider now owns 4,078,465 shares in the company, valued at approximately $36,869,323.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, major shareholder Nicholas S. Schorsch sold 176,577 shares of Global Net Lease stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $9.04, for a total transaction of $1,596,256.08. Following the sale, the insider now owns 4,078,465 shares of the company’s stock, valued at approximately $36,869,323.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Nicholas S. Schorsch sold 20,000 shares of the firm’s stock in a transaction on Wednesday, January 24th. The stock was sold at an average price of $9.00, for a total value of $180,000.00. Following the sale, the insider now directly owns 4,024,330 shares of the company’s stock, valued at approximately $36,218,970. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 351,414 shares of company stock valued at $3,154,305. Insiders own 0.22% of the company’s stock.

Institutional Trading of Global Net Lease

Several institutional investors have recently added to or reduced their stakes in the stock. Raymond James & Associates boosted its position in shares of Global Net Lease by 11.8% during the first quarter. Raymond James & Associates now owns 74,749 shares of the financial services provider’s stock worth $1,176,000 after buying an additional 7,886 shares during the period. Bank of New York Mellon Corp increased its stake in Global Net Lease by 4.5% during the first quarter. Bank of New York Mellon Corp now owns 1,145,077 shares of the financial services provider’s stock worth $18,013,000 after purchasing an additional 48,896 shares during the period. Bank of Montreal Can lifted its position in shares of Global Net Lease by 5.3% during the first quarter. Bank of Montreal Can now owns 31,150 shares of the financial services provider’s stock worth $491,000 after purchasing an additional 1,581 shares in the last quarter. MetLife Investment Management LLC boosted its stake in shares of Global Net Lease by 57.8% in the first quarter. MetLife Investment Management LLC now owns 54,350 shares of the financial services provider’s stock valued at $855,000 after purchasing an additional 19,899 shares during the period. Finally, Rhumbline Advisers grew its holdings in shares of Global Net Lease by 1.6% in the first quarter. Rhumbline Advisers now owns 317,198 shares of the financial services provider’s stock valued at $4,990,000 after purchasing an additional 5,102 shares in the last quarter. Institutional investors and hedge funds 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 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.