Global Net Lease (NYSE:GNL) Now Covered by Huntington

Huntington started coverage on shares of Global Net Lease (NYSE:GNL) in a research note issued to investors on Wednesday, Zacks reports. The firm set a “hold” rating on the financial services provider’s stock.

A number of other brokerages also recently commented on GNL. BMO Capital Markets upgraded Global Net Lease from a “market perform” rating to an “outperform” rating and set a $10.00 price objective for the company in a research report on Monday, August 17th. Citizens Jmp restated a “market outperform” rating and set a $10.00 price objective on shares of Global Net Lease in a research report on Monday, August 31st. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $10.25.

Global Net Lease Stock Performance

NYSE:GNL opened at $7.10 on Wednesday. The firm’s 50-day moving average is $8.15 and its 200-day moving average is $9.02. Global Net Lease has a 52-week low of $6.81 and a 52-week high of $10.04. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.16 and a current ratio of 0.16. The company has a market cap of $1.50 billion, a price-to-earnings ratio of 7.54 and a beta of 1.09.

Global Net Lease (NYSE:GNL) last released its earnings results on Wednesday, August 5th. The financial services provider reported ($0.05) earnings per share for the quarter, meeting the consensus estimate of ($0.05). Global Net Lease had a negative net margin of 2.28% and a negative return on equity of 0.81%. The business had revenue of $112.47 million during the quarter, compared to analysts’ expectations of $109.68 million.

Institutional Trading of Global Net Lease

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GNL. Private Management Group Inc. increased its position in shares of Global Net Lease by 56.3% during the 3rd quarter. Private Management Group Inc. now owns 5,115,564 shares of the financial services provider’s stock worth $42,255,000 after purchasing an additional 1,843,181 shares in the last quarter. Renaissance Technologies LLC boosted its position in 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 valued at $12,787,000 after buying an additional 838,500 shares in the last quarter. Bank of New York Mellon Corp acquired a new position in Global Net Lease in the second quarter valued at about $11,232,000. Principal Financial Group Inc. boosted its position in Global Net Lease by 2.0% in the first quarter. Principal Financial Group Inc. now owns 958,365 shares of the financial services provider’s stock valued at $8,970,000 after buying an additional 18,661 shares in the last quarter. Finally, First Trust Advisors LP grew its stake in Global Net Lease by 282.7% during the first quarter. First Trust Advisors LP now owns 614,335 shares of the financial services provider’s stock worth $5,750,000 after buying an additional 453,808 shares during the last quarter. Institutional investors own 61.19% of the company’s stock.

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.