Global Net Lease (NYSE:GNL) Upgraded at Zacks Investment Research

Global Net Lease (NYSE:GNL) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Thursday, 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 upgraded shares of Global Net Lease from a “neutral” rating to a “buy” rating and cut their target price for the stock from $25.00 to $24.00 in a research note on Friday, March 15th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $24.00.

Shares of NYSE:GNL opened at $19.59 on Thursday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.08 and a current ratio of 0.08. The stock has a market cap of $1.63 billion, a price-to-earnings ratio of 9.15 and a beta of 0.69. Global Net Lease has a 1 year low of $16.95 and a 1 year high of $22.53.

Global Net Lease (NYSE:GNL) last released its earnings results on Thursday, May 9th. The financial services provider reported $0.07 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.50 by ($0.43). Global Net Lease had a return on equity of 1.00% and a net margin of 4.96%. The firm had revenue of $75.47 million for the quarter, compared to analysts’ expectations of $75.92 million. Analysts anticipate that Global Net Lease will post 1.92 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. boosted its holdings in Global Net Lease by 8.2% in the first quarter. BlackRock Inc. now owns 13,080,454 shares of the financial services provider’s stock valued at $247,219,000 after purchasing an additional 996,141 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in Global Net Lease by 24.9% in the first quarter. Renaissance Technologies LLC now owns 1,502,900 shares of the financial services provider’s stock valued at $28,405,000 after purchasing an additional 299,902 shares in the last quarter. Northern Trust Corp boosted its holdings in Global Net Lease by 1.9% in the first quarter. Northern Trust Corp now owns 1,239,367 shares of the financial services provider’s stock valued at $23,424,000 after purchasing an additional 23,496 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Global Net Lease by 8.5% in the first quarter. Dimensional Fund Advisors LP now owns 1,147,647 shares of the financial services provider’s stock valued at $21,692,000 after purchasing an additional 89,557 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in Global Net Lease by 38.7% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,144,361 shares of the financial services provider’s stock valued at $20,164,000 after purchasing an additional 319,281 shares in the last quarter. 63.48% of the stock is owned by hedge funds and other institutional investors.

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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