BMO Capital Markets Reiterates “Outperform” Rating for Global Net Lease (NYSE:GNL)

BMO Capital Markets reaffirmed their outperform rating on shares of Global Net Lease (NYSE:GNL) in a research note issued to investors on Friday, Benzinga reports. They currently have a $11.00 price target on the financial services provider’s stock.

GNL has been the subject of several other research reports. Truist Financial assumed coverage on Global Net Lease in a research note on Thursday, March 28th. They issued a hold rating and a $7.00 target price for the company. BTIG Research lowered shares of Global Net Lease from a buy rating to a neutral rating in a report on Friday, March 8th. Finally, JMP Securities reiterated a market perform rating on shares of Global Net Lease in a research report on Wednesday, June 12th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of Hold and an average target price of $11.00.

Global Net Lease Trading Down 0.7 %

Shares of GNL stock opened at $7.30 on Friday. The business has a 50-day moving average price of $7.32 and a two-hundred day moving average price of $7.90. Global Net Lease has a 12-month low of $6.52 and a 12-month high of $11.58. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.70. The firm has a market cap of $1.68 billion, a P/E ratio of -4.01, a price-to-earnings-growth ratio of 0.94 and a beta of 1.38.

Insider Activity

In other Global Net Lease news, major shareholder Nicholas S. Schorsch sold 433,350 shares of the stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $7.19, for a total transaction of $3,115,786.50. Following the completion of the sale, the insider now owns 2,679,073 shares of the company’s stock, valued at approximately $19,262,534.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, major shareholder Nicholas S. Schorsch sold 433,350 shares of Global Net Lease stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $7.19, for a total value of $3,115,786.50. Following the sale, the insider now directly owns 2,679,073 shares in the company, valued at approximately $19,262,534.87. The sale was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Nicholas S. Schorsch sold 200,000 shares of the company’s stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $7.16, for a total value of $1,432,000.00. Following the transaction, the insider now owns 3,201,694 shares of the company’s stock, valued at approximately $22,924,129.04. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,043,070 shares of company stock valued at $7,497,437. 0.31% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Global Net Lease

Several institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in shares of Global Net Lease by 83.8% during the 3rd quarter. Vanguard Group Inc. now owns 30,770,077 shares of the financial services provider’s stock valued at $295,700,000 after buying an additional 14,033,117 shares in the last quarter. Corient Private Wealth LLC boosted its holdings in Global Net Lease by 3,410.4% in the fourth quarter. Corient Private Wealth LLC now owns 2,688,951 shares of the financial services provider’s stock worth $26,755,000 after acquiring an additional 2,612,351 shares in the last quarter. Northern Trust Corp grew its stake in shares of Global Net Lease by 83.8% in the third quarter. Northern Trust Corp now owns 2,217,620 shares of the financial services provider’s stock worth $21,311,000 after acquiring an additional 1,011,160 shares during the last quarter. Norges Bank bought a new position in shares of Global Net Lease during the fourth quarter valued at $9,378,000. Finally, Edgestream Partners L.P. bought a new position in Global Net Lease in the 1st quarter worth about $3,798,000. 61.19% of the stock is owned by hedge funds and other 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.