Global Net Lease (NYSE:GNL) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Thursday.
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. “
Several other equities research analysts also recently weighed in on GNL. B. Riley set a $22.00 price target on shares of Global Net Lease and gave the company a “buy” rating in a research report on Tuesday, February 27th. ValuEngine downgraded shares of Global Net Lease from a “buy” rating to a “hold” rating in a research report on Monday, April 2nd. Two investment analysts have rated the stock with a sell rating and three have given a hold rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $22.00.
Shares of NYSE GNL remained flat at $$18.53 on Thursday. 375,001 shares of the company’s stock were exchanged, compared to its average volume of 723,849. Global Net Lease has a fifty-two week low of $18.42 and a fifty-two week high of $18.61. The company has a market capitalization of $1.23 billion, a P/E ratio of 9.22 and a beta of 0.47. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.25.
Global Net Lease (NYSE:GNL) last announced its earnings results on Tuesday, February 27th. The financial services provider reported $0.09 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.51 by ($0.42). Global Net Lease had a net margin of 7.92% and a return on equity of 1.51%. The business had revenue of $66.60 million for the quarter, compared to the consensus estimate of $64.93 million. research analysts forecast that Global Net Lease will post 2.1 earnings per share for the current year.
In other news, Director Edward M. Jr. Weil purchased 6,000 shares of Global Net Lease stock in a transaction that occurred on Friday, March 16th. The stock was bought at an average price of $16.72 per share, with a total value of $100,320.00. Following the completion of the transaction, the director now directly owns 22,018 shares of the company’s stock, valued at $368,140.96. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.19% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently made changes to their positions in GNL. SG Americas Securities LLC bought a new stake in shares of Global Net Lease during the fourth quarter valued at approximately $151,000. Atria Investments LLC bought a new stake in Global Net Lease in the 1st quarter worth approximately $170,000. Profund Advisors LLC bought a new stake in Global Net Lease in the 1st quarter worth approximately $220,000. Resources Investment Advisors Inc. grew its position in Global Net Lease by 342.9% in the 1st quarter. Resources Investment Advisors Inc. now owns 13,477 shares of the financial services provider’s stock worth $227,000 after purchasing an additional 10,434 shares during the period. Finally, Virtu Financial LLC bought a new stake in Global Net Lease in the 4th quarter worth approximately $231,000. 50.53% of the stock is owned by institutional investors.
About Global Net Lease
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.
Get a free copy of the Zacks research report on Global Net Lease (GNL)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Global Net Lease Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Global Net Lease and related companies with MarketBeat.com's FREE daily email newsletter.