Truist Financial Lowers Global Net Lease (NYSE:GNL) Price Target to $8.00

Global Net Lease (NYSE:GNL) had its price target decreased by equities researchers at Truist Financial from $8.50 to $8.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a “hold” rating on the financial services provider’s stock. Truist Financial’s price target would indicate a potential upside of 7.96% from the stock’s current price.

Several other brokerages have also recently issued reports on GNL. B. Riley decreased their price objective on Global Net Lease from $11.00 to $10.00 and set a “buy” rating for the company in a report on Monday, August 12th. StockNews.com raised shares of Global Net Lease from a “sell” rating to a “hold” rating in a report on Thursday, August 8th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $9.67.

Global Net Lease Stock Performance

Shares of GNL traded down $0.11 during trading hours on Friday, reaching $7.41. 869,231 shares of the company traded hands, compared to its average volume of 1,465,603. 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 business has a fifty day moving average price of $8.02 and a 200-day moving average price of $8.01. Global Net Lease has a 12-month low of $6.52 and a 12-month high of $10.19. The stock has a market capitalization of $1.71 billion, a P/E ratio of -7.88, a P/E/G ratio of 0.99 and a beta of 1.38.

Global Net Lease (NYSE:GNL) last announced its quarterly earnings data 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 during the quarter, compared to analyst estimates of $198.76 million. Global Net Lease had a negative net margin of 21.37% and a negative return on equity of 7.04%. During the same period in the prior year, the company posted $0.36 earnings per share. Equities analysts anticipate that Global Net Lease will post 1.27 EPS for the current fiscal year.

Insider Activity

In related news, major shareholder Nicholas S. Schorsch purchased 100,000 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were purchased at an average cost of $7.72 per share, with a total value of $772,000.00. Following the purchase, the insider now owns 1,829,073 shares of the company’s stock, valued at $14,120,443.56. This represents a 5.78 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.31% of the company’s stock.

Hedge Funds Weigh In On Global Net Lease

Hedge funds have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD grew its position in shares of Global Net Lease by 6.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 116,384 shares of the financial services provider’s stock valued at $905,000 after purchasing an additional 7,152 shares in the last quarter. Cetera Advisors LLC raised its holdings in shares of Global Net Lease by 130.6% during the 1st quarter. Cetera Advisors LLC now owns 57,315 shares of the financial services provider’s stock worth $445,000 after acquiring an additional 32,457 shares during the period. Thompson Investment Management Inc. boosted its position in shares of Global Net Lease by 21.0% during the 2nd quarter. Thompson Investment Management Inc. now owns 86,314 shares of the financial services provider’s stock valued at $634,000 after acquiring an additional 15,000 shares during the last quarter. Fiduciary Alliance LLC purchased a new stake in shares of Global Net Lease in the second quarter valued at about $229,000. Finally, CWM LLC increased its position in Global Net Lease by 23.6% during the second quarter. CWM LLC now owns 23,183 shares of the financial services provider’s stock worth $170,000 after purchasing an additional 4,423 shares during 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. 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.