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

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

Other equities analysts also recently issued reports about the stock. BTIG Research downgraded shares of Global Net Lease from a “buy” rating to a “neutral” rating in a report on Friday, March 8th. BMO Capital Markets initiated coverage on shares of Global Net Lease in a report on Tuesday, February 13th. They issued an “outperform” rating and a $11.00 price objective on the stock. 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 stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $12.00.

Global Net Lease Price Performance

Shares of GNL opened at $7.63 on Thursday. The company has a market cap of $1.76 billion, a price-to-earnings ratio of -4.41, a PEG ratio of 0.94 and a beta of 1.33. Global Net Lease has a 1-year low of $6.83 and a 1-year high of $13.10. The company’s fifty day simple moving average is $7.91 and its 200 day simple moving average is $8.71. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.66.

Insider Activity at Global Net Lease

In other Global Net Lease news, major shareholder Nicholas S. Schorsch sold 4,837 shares of the stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $8.90, for a total transaction of $43,049.30. Following the sale, the insider now directly owns 3,861,472 shares in the company, valued at $34,367,100.80. 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 220,564 shares of the firm’s stock in a transaction that occurred on Wednesday, January 10th. The shares were sold at an average price of $10.01, for a total value of $2,207,845.64. Following the sale, the insider now directly owns 4,405,042 shares in the company, valued at approximately $44,094,470.42. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Nicholas S. Schorsch sold 4,837 shares of the firm’s stock in a transaction that occurred on Friday, January 26th. The shares were sold at an average price of $8.90, for a total transaction of $43,049.30. Following the completion of the transaction, the insider now owns 3,861,472 shares of the company’s stock, valued at approximately $34,367,100.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 571,978 shares of company stock worth $5,362,151. Corporate insiders own 0.22% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in shares of Global Net Lease by 10.3% in the 4th quarter. Vanguard Group Inc. now owns 33,932,387 shares of the financial services provider’s stock valued at $337,627,000 after acquiring an additional 3,162,310 shares in the last quarter. BlackRock Inc. raised its position in Global Net Lease by 0.8% in the second quarter. BlackRock Inc. now owns 18,361,538 shares of the financial services provider’s stock worth $188,757,000 after acquiring an additional 151,335 shares during the period. State Street Corp raised its position in Global Net Lease by 14.5% in the first quarter. State Street Corp now owns 6,640,651 shares of the financial services provider’s stock worth $104,457,000 after acquiring an additional 839,449 shares during the period. Hsbc Holdings PLC raised its position in Global Net Lease by 8,487.0% in the third quarter. Hsbc Holdings PLC now owns 4,832,588 shares of the financial services provider’s stock worth $46,536,000 after acquiring an additional 4,776,310 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in Global Net Lease by 80.3% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,991,844 shares of the financial services provider’s stock worth $38,362,000 after acquiring an additional 1,778,131 shares during the period. 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 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.