Citizens Jmp Upgrades Global Net Lease (NYSE:GNL) to Strong-Buy

Global Net Lease (NYSE:GNL - Get Free Report) was upgraded by analysts at Citizens Jmp from a "hold" rating to a "strong-buy" rating in a research note issued on Tuesday,Zacks.com reports.

Several other research firms have also recently issued reports on GNL. JMP Securities raised shares of Global Net Lease from a "market perform" rating to an "outperform" rating and set a $9.00 price objective for the company in a research report on Tuesday. Truist Financial decreased their price target on Global Net Lease from $8.50 to $8.00 and set a "hold" rating for the company in a report on Friday, November 29th. Three equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $9.50.

Global Net Lease Stock Down 3.4 %

NYSE GNL traded down $0.25 during trading hours on Tuesday, hitting $7.04. 2,393,767 shares of the company were exchanged, compared to its average volume of 1,462,308. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 0.70. The firm has a market cap of $1.62 billion, a price-to-earnings ratio of -7.49, a PEG ratio of 0.93 and a beta of 1.34. The company has a 50 day moving average of $7.68 and a two-hundred day moving average of $7.98. Global Net Lease has a 52-week low of $6.52 and a 52-week high of $10.19.

Global Net Lease (NYSE:GNL - Get Free Report) last released its earnings results on Wednesday, November 6th. The financial services provider reported ($0.33) earnings per share for the quarter, missing analysts' consensus estimates of $0.32 by ($0.65). The firm had revenue of $196.56 million for the quarter, compared to analysts' expectations of $198.76 million. Global Net Lease had a negative return on equity of 7.04% and a negative net margin of 21.37%. During the same quarter in the previous year, the company posted $0.36 earnings per share. Equities research analysts anticipate that Global Net Lease will post 1.27 earnings per share for the current year.

Insider Activity at Global Net Lease

In related news, major shareholder Nicholas S. Schorsch purchased 100,000 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The shares were purchased at an average price of $8.40 per share, with a total value of $840,000.00. Following the completion of the acquisition, the insider now directly owns 1,729,073 shares in the company, valued at $14,524,213.20. This represents a 6.14 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.31% of the company's stock.

Institutional Trading of Global Net Lease

Hedge funds have recently added to or reduced their stakes in the stock. American Capital Advisory LLC purchased a new stake in shares of Global Net Lease during the third quarter worth approximately $34,000. Park Place Capital Corp acquired a new position in Global Net Lease during the third quarter worth $35,000. GAMMA Investing LLC lifted its holdings in Global Net Lease by 60.1% in the third quarter. GAMMA Investing LLC now owns 5,054 shares of the financial services provider's stock valued at $43,000 after acquiring an additional 1,897 shares during the period. McIlrath & Eck LLC purchased a new stake in shares of Global Net Lease in the third quarter valued at about $67,000. Finally, Verus Capital Partners LLC acquired a new stake in shares of Global Net Lease in the second quarter valued at approximately $74,000. 61.19% of the stock is 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. The firm 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.