Global Net Lease (NYSE:GNL) Stock Picked Up by Analysts at Huntington

Equities research analysts at Huntington initiated coverage on shares of Global Net Lease (NYSE:GNL) in a research report issued to clients and investors on Wednesday, Zacks reports. The brokerage set a “hold” rating on the financial services provider’s stock.

Several other brokerages also recently issued reports on GNL. Citizens Jmp reaffirmed a “market outperform” rating and issued a $10.00 price objective on shares of Global Net Lease in a research report on Monday, August 31st. BMO Capital Markets raised shares of Global Net Lease from a “market perform” rating to an “outperform” rating and set a $10.00 price objective for the company in a report on Monday, August 17th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, Global Net Lease presently has a consensus rating of “Buy” and a consensus target price of $10.25.

Global Net Lease Stock Up 0.1%

Shares of GNL opened at $7.10 on Wednesday. The company’s fifty day moving average is $8.15 and its two-hundred day moving average is $9.02. Global Net Lease has a fifty-two week low of $6.81 and a fifty-two week high of $10.04. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.94. The firm has a market cap of $1.50 billion, a PE ratio of -26.29 and a beta of 1.09.

Global Net Lease (NYSE:GNL) last announced its quarterly earnings results on Wednesday, August 5th. The financial services provider reported ($0.05) EPS for the quarter, hitting the consensus estimate of ($0.05). Global Net Lease had a negative return on equity of 0.81% and a negative net margin of 2.28%. The company had revenue of $112.47 million during the quarter, compared to analyst estimates of $109.68 million.

Institutional Investors Weigh In On Global Net Lease

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Private Management Group Inc. grew its position in Global Net Lease by 56.3% in the third quarter. Private Management Group Inc. now owns 5,115,564 shares of the financial services provider’s stock worth $42,255,000 after buying an additional 1,843,181 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of Global Net Lease during the second quarter worth approximately $11,232,000. Renaissance Technologies LLC increased its stake in shares of Global Net Lease by 158.9% in the first quarter. Renaissance Technologies LLC now owns 1,366,133 shares of the financial services provider’s stock worth $12,787,000 after acquiring an additional 838,500 shares during the last quarter. First Trust Advisors LP raised its stake in shares of Global Net Lease by 282.7% during the 1st quarter. First Trust Advisors LP now owns 614,335 shares of the financial services provider’s stock worth $5,750,000 after purchasing an additional 453,808 shares in the last quarter. Finally, North Star Investment Management Corp. grew its position in Global Net Lease by 180.5% in the third quarter. North Star Investment Management Corp. now owns 422,151 shares of the financial services provider’s stock worth $3,487,000 after acquiring an additional 271,670 shares in the last quarter. 61.19% of the stock is owned by institutional investors and hedge funds.

About Global Net Lease

Global Net Lease, Inc (NYSE:GNL) is a real estate investment trust that owns and manages a diversified portfolio of commercial properties subject to long-term, net leases. Under these arrangements, tenants generally pay property operating expenses such as taxes, insurance and maintenance, which can provide the company with relatively predictable rental income.

The company invests primarily in single-tenant office, industrial and retail properties leased to corporate and other commercial tenants.