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

Global Net Lease (NYSE:GNL)‘s stock had its “outperform” rating reiterated by BMO Capital Markets in a research report issued to clients and investors on Friday, Benzinga reports. They currently have a $11.00 target price on the financial services provider’s stock. BMO Capital Markets’ price objective indicates a potential upside of 49.66% from the stock’s previous close.

A number of other equities research analysts have also issued reports on the company. Truist Financial initiated coverage on Global Net Lease in a research report on Thursday, March 28th. They issued a “hold” rating and a $7.00 price target on the stock. BTIG Research lowered Global Net Lease from a “buy” rating to a “neutral” rating in a research report on Friday, March 8th. Finally, JMP Securities reissued a “market perform” rating on shares of Global Net Lease in a research report on Wednesday, June 12th. One equities 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 company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $11.00.

Global Net Lease Price Performance

GNL stock opened at $7.35 on Friday. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.05 and a quick ratio of 0.05. The firm has a market capitalization of $1.69 billion, a P/E ratio of -4.04, a P/E/G ratio of 0.92 and a beta of 1.38. The business’s 50-day moving average is $7.31 and its two-hundred day moving average is $7.92. Global Net Lease has a 1 year low of $6.52 and a 1 year high of $11.58.

Insider Buying and Selling

In other Global Net Lease news, major shareholder Nicholas S. Schorsch sold 100,000 shares of Global Net Lease stock in a transaction that occurred on Wednesday, June 26th. The stock was sold at an average price of $7.02, for a total value of $702,000.00. Following the transaction, the insider now directly owns 1,829,073 shares in the company, valued at approximately $12,840,092.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, major shareholder Nicholas S. Schorsch sold 150,000 shares of Global Net Lease stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $7.19, for a total value of $1,078,500.00. Following the sale, the insider now directly owns 2,079,073 shares in the company, valued at $14,948,534.87. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, major shareholder Nicholas S. Schorsch sold 100,000 shares of Global Net Lease stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $7.02, for a total value of $702,000.00. Following the completion of the sale, the insider now owns 1,829,073 shares in the company, valued at $12,840,092.46. The disclosure for this sale can be found here. Insiders have sold 1,043,070 shares of company stock worth $7,497,437 in the last quarter. 0.31% of the stock is owned by insiders.

Institutional Trading of Global Net Lease

A number of institutional investors have recently modified their holdings of the business. Scarborough Advisors LLC acquired a new position in Global Net Lease during the fourth quarter worth $25,000. Beaird Harris Wealth Management LLC acquired a new position in Global Net Lease during the third quarter worth $26,000. Turtle Creek Wealth Advisors LLC acquired a new position in Global Net Lease during the fourth quarter worth $31,000. Raleigh Capital Management Inc. raised its holdings in Global Net Lease by 59.1% during the third quarter. Raleigh Capital Management Inc. now owns 4,249 shares of the financial services provider’s stock worth $41,000 after purchasing an additional 1,579 shares during the last quarter. Finally, Beacon Capital Management LLC acquired a new position in Global Net Lease during the fourth quarter worth $43,000. 61.19% of the stock is currently 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.