Zacks Investment Research Lowers Global Net Lease (GNL) to Sell

Global Net Lease (NYSE:GNL) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Tuesday, Zacks.com reports.

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. “

Separately, B. Riley raised Global Net Lease from a “neutral” rating to a “buy” rating and cut their price objective for the company from $25.00 to $24.00 in a research report on Friday, March 15th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. Global Net Lease presently has a consensus rating of “Hold” and a consensus price target of $24.00.

Shares of Global Net Lease stock opened at $19.04 on Tuesday. The firm has a market capitalization of $1.60 billion, a price-to-earnings ratio of 8.90 and a beta of 0.70. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.09 and a current ratio of 0.08. Global Net Lease has a 52 week low of $16.95 and a 52 week high of $22.53.

Global Net Lease (NYSE:GNL) last announced its quarterly earnings data on Thursday, May 9th. The financial services provider reported $0.07 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.50 by ($0.43). The business had revenue of $75.47 million during the quarter, compared to the consensus estimate of $75.92 million. Global Net Lease had a net margin of 4.96% and a return on equity of 1.00%. On average, equities analysts expect that Global Net Lease will post 1.92 EPS for the current fiscal year.

In other news, CEO James Larry Nelson purchased 6,000 shares of the company’s stock in a transaction dated Tuesday, March 5th. The shares were acquired at an average price of $18.41 per share, with a total value of $110,460.00. Following the transaction, the chief executive officer now owns 14,000 shares of the company’s stock, valued at $257,740. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.16% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Bank of Montreal Can grew its position in shares of Global Net Lease by 5.1% during the 4th quarter. Bank of Montreal Can now owns 10,655 shares of the financial services provider’s stock worth $188,000 after buying an additional 517 shares in the last quarter. Oregon Public Employees Retirement Fund grew its position in shares of Global Net Lease by 1.8% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 29,462 shares of the financial services provider’s stock worth $557,000 after buying an additional 532 shares in the last quarter. Capital Investment Advisory Services LLC grew its position in shares of Global Net Lease by 5.8% during the 4th quarter. Capital Investment Advisory Services LLC now owns 11,177 shares of the financial services provider’s stock worth $197,000 after buying an additional 609 shares in the last quarter. New York State Teachers Retirement System grew its position in shares of Global Net Lease by 2.4% during the 4th quarter. New York State Teachers Retirement System now owns 51,656 shares of the financial services provider’s stock worth $910,000 after buying an additional 1,190 shares in the last quarter. Finally, Versant Capital Management Inc grew its position in shares of Global Net Lease by 274.7% during the 1st quarter. Versant Capital Management Inc now owns 1,641 shares of the financial services provider’s stock worth $31,000 after buying an additional 1,203 shares in the last quarter. 58.15% of the stock is currently 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 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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