JMP Securities Reiterates Market Outperform Rating for Global Net Lease (NYSE:GNL)

Global Net Lease (NYSE:GNL)‘s stock had its “market outperform” rating reissued by stock analysts at JMP Securities in a research note issued to investors on Thursday,Benzinga reports. They currently have a $9.00 price target on the financial services provider’s stock. JMP Securities’ target price would suggest a potential upside of 22.12% from the company’s previous close.

Separately, B. Riley began coverage on Global Net Lease in a research report on Tuesday, April 22nd. They issued a “neutral” rating and a $8.00 target price for the company. Three research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $9.00.

Global Net Lease Stock Performance

NYSE GNL opened at $7.37 on Thursday. The company has a market cap of $1.69 billion, a P/E ratio of -7.84 and a beta of 1.22. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.06 and a quick ratio of 0.06. The stock has a 50-day moving average of $7.60 and a two-hundred day moving average of $7.49. Global Net Lease has a 1-year low of $6.51 and a 1-year high of $9.11.

Global Net Lease (NYSE:GNL) last released its earnings results on Wednesday, May 7th. The financial services provider reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.06. The company had revenue of $132.42 million during the quarter, compared to the consensus estimate of $187.40 million. Global Net Lease had a negative return on equity of 7.04% and a negative net margin of 21.37%. As a group, analysts anticipate that Global Net Lease will post 1.26 EPS for the current year.

Insider Transactions at Global Net Lease

In related news, insider Nicholas S. Schorsch sold 7,103,000 shares of the business’s stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $7.43, for a total transaction of $52,775,290.00. Following the completion of the sale, the insider now owns 19,907,384 shares in the company, valued at $147,911,863.12. The trade was a 26.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last ninety days, insiders sold 7,703,000 shares of company stock valued at $57,363,290. 0.37% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Global Net Lease

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. CoreCap Advisors LLC purchased a new stake in Global Net Lease in the fourth quarter valued at approximately $25,000. Ameriflex Group Inc. purchased a new stake in Global Net Lease in the fourth quarter valued at approximately $25,000. GF Fund Management CO. LTD. purchased a new stake in Global Net Lease in the fourth quarter valued at approximately $26,000. US Bancorp DE lifted its stake in Global Net Lease by 363.2% in the fourth quarter. US Bancorp DE now owns 6,072 shares of the financial services provider’s stock valued at $44,000 after buying an additional 4,761 shares during the last quarter. Finally, Creative Financial Designs Inc. ADV lifted its stake in Global Net Lease by 119.4% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 6,659 shares of the financial services provider’s stock valued at $49,000 after buying an additional 3,624 shares during the last quarter. Hedge funds and other institutional investors 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.