Global Net Lease (NYSE:GNL) Now Covered by Analysts at Truist Financial

Analysts at Truist Financial started coverage on shares of Global Net Lease (NYSE:GNL) in a research note issued to investors on Thursday, MarketBeat.com reports. The brokerage set a “hold” rating and a $7.00 price target on the financial services provider’s stock. Truist Financial’s target price would suggest a potential downside of 8.26% from the stock’s current price.

A number of other research firms also recently issued reports on GNL. BTIG Research downgraded shares of Global Net Lease from a “buy” rating to a “neutral” rating in a research report on Friday, March 8th. BMO Capital Markets began coverage on shares of Global Net Lease in a research report on Tuesday, February 13th. They issued an “outperform” rating and a $11.00 target price for the company. One research analyst has rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $12.00.

Global Net Lease Stock Up 4.1 %

Shares of NYSE:GNL opened at $7.63 on Thursday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.05 and a current ratio of 0.05. The company has a market cap of $1.76 billion, a PE ratio of -4.41, a price-to-earnings-growth ratio of 0.94 and a beta of 1.33. Global Net Lease has a 52 week low of $6.83 and a 52 week high of $13.10. The firm has a 50 day simple moving average of $7.91 and a 200 day simple moving average of $8.71.

Insiders Place Their Bets

In other news, major shareholder Nicholas S. Schorsch sold 150,000 shares of the firm’s stock in a transaction dated Friday, January 19th. The shares were sold at an average price of $8.90, for a total transaction of $1,335,000.00. Following the completion of the transaction, the insider now directly owns 4,255,042 shares of the company’s stock, valued at approximately $37,869,873.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, major shareholder Nicholas S. Schorsch sold 220,564 shares of Global Net Lease stock in a transaction dated Wednesday, January 10th. The shares were sold at an average price of $10.01, for a total transaction of $2,207,845.64. Following the completion of the transaction, the insider now directly owns 4,405,042 shares of the company’s stock, valued at approximately $44,094,470.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Nicholas S. Schorsch sold 150,000 shares of the business’s stock in a transaction dated Friday, January 19th. The stock was sold at an average price of $8.90, for a total transaction of $1,335,000.00. Following the completion of the transaction, the insider now directly owns 4,255,042 shares of the company’s stock, valued at $37,869,873.80. The disclosure for this sale can be found here. Insiders have sold 571,978 shares of company stock worth $5,362,151 in the last ninety days. Insiders own 0.22% of the company’s stock.

Hedge Funds Weigh In On Global Net Lease

Institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its position in shares of Global Net Lease by 10.3% during the 4th quarter. Vanguard Group Inc. now owns 33,932,387 shares of the financial services provider’s stock worth $337,627,000 after buying an additional 3,162,310 shares during the period. Scarborough Advisors LLC acquired a new position in Global Net Lease during the fourth quarter valued at approximately $25,000. Teachers Retirement System of The State of Kentucky grew its holdings in Global Net Lease by 87.7% during the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 63,145 shares of the financial services provider’s stock valued at $629,000 after purchasing an additional 29,500 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in Global Net Lease by 31.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 109,232 shares of the financial services provider’s stock valued at $1,087,000 after purchasing an additional 26,428 shares during the period. Finally, Public Employees Retirement System of Ohio grew its holdings in Global Net Lease by 0.9% during the fourth quarter. Public Employees Retirement System of Ohio now owns 285,583 shares of the financial services provider’s stock valued at $2,842,000 after purchasing an additional 2,662 shares during the period. 61.19% of the stock is owned by institutional investors.

Global Net Lease Company Profile

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.