Global Net Lease (NYSE:GNL) Downgraded to Hold at ValuEngine

ValuEngine cut shares of Global Net Lease (NYSE:GNL) from a buy rating to a hold rating in a research note released on Tuesday, ValuEngine reports.

Several other equities analysts have also commented on the company. B. Riley set a $24.00 price target on Global Net Lease and gave the company a buy rating in a research note on Wednesday, August 7th. DA Davidson started coverage on Global Net Lease in a report on Thursday, September 26th. They issued a neutral rating and a $22.00 price objective for the company. Aegis began coverage on shares of Global Net Lease in a research note on Thursday, October 31st. They issued a buy rating and a $21.50 price objective for the company. Finally, Zacks Investment Research cut shares of Global Net Lease from a hold rating to a strong sell rating in a report on Thursday, November 14th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company’s stock. Global Net Lease has an average rating of Hold and a consensus price target of $22.50.

Shares of NYSE:GNL opened at $20.38 on Tuesday. The business’s 50 day moving average is $19.64 and its 200 day moving average is $19.44. The stock has a market cap of $1.82 billion, a P/E ratio of 11.08 and a beta of 0.72. Global Net Lease has a 52-week low of $16.95 and a 52-week high of $20.62. The company has a quick ratio of 0.22, a current ratio of 0.22 and a debt-to-equity ratio of 0.32.

Global Net Lease (NYSE:GNL) last issued its earnings results on Friday, November 8th. The financial services provider reported $0.08 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.48 by ($0.40). Global Net Lease had a net margin of 9.73% and a return on equity of 1.91%. The firm had revenue of $77.94 million for the quarter, compared to the consensus estimate of $78.18 million. On average, sell-side analysts anticipate that Global Net Lease will post 1.77 EPS for the current fiscal year.

A number of hedge funds have recently modified their holdings of the stock. Amundi Pioneer Asset Management Inc. raised its stake in Global Net Lease by 8.0% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 37,189 shares of the financial services provider’s stock worth $703,000 after buying an additional 2,758 shares in the last quarter. Oregon Public Employees Retirement Fund increased its holdings in shares of Global Net Lease by 13.9% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 33,562 shares of the financial services provider’s stock valued at $658,000 after acquiring an additional 4,100 shares during the period. New York State Teachers Retirement System raised its position in shares of Global Net Lease by 2.0% in the 2nd quarter. New York State Teachers Retirement System now owns 56,706 shares of the financial services provider’s stock worth $1,113,000 after acquiring an additional 1,100 shares in the last quarter. Arizona State Retirement System raised its position in shares of Global Net Lease by 0.6% in the 2nd quarter. Arizona State Retirement System now owns 130,055 shares of the financial services provider’s stock worth $2,552,000 after acquiring an additional 719 shares in the last quarter. Finally, Strs Ohio lifted its stake in shares of Global Net Lease by 4.2% during the 2nd quarter. Strs Ohio now owns 125,537 shares of the financial services provider’s stock worth $2,463,000 after purchasing an additional 5,092 shares during the last quarter. 64.86% of the stock is currently 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.

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