Global Net Lease (GNL) Raised to “Buy” at B. Riley

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Global Net Lease (NYSE:GNL) was upgraded by B. Riley from a “neutral” rating to a “buy” rating in a report released on Friday, The Fly reports. The firm currently has a $24.00 price objective on the financial services provider’s stock, down from their previous price objective of $25.00. B. Riley’s price target would suggest a potential upside of 30.86% from the stock’s previous close.

GNL has been the topic of a number of other reports. Zacks Investment Research raised shares of Global Net Lease from a “hold” rating to a “strong-buy” rating and set a $24.00 price objective on the stock in a research note on Thursday, November 15th. JMP Securities initiated coverage on shares of Global Net Lease in a research report on Tuesday, December 11th. They issued a “market perform” rating on the stock. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Global Net Lease currently has a consensus rating of “Hold” and an average price target of $24.00.

Shares of NYSE:GNL opened at $18.34 on Friday. The company has a market capitalization of $1.55 billion, a P/E ratio of 8.55 and a beta of 0.69. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.45. Global Net Lease has a 1 year low of $16.22 and a 1 year high of $22.53.

In related news, CEO James Larry Nelson bought 6,000 shares of the business’s stock in a transaction on Tuesday, March 5th. The shares were purchased at an average price of $18.41 per share, for a total transaction of $110,460.00. Following the completion of the transaction, the chief executive officer now directly owns 14,000 shares of the company’s stock, valued at approximately $257,740. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.16% of the company’s stock.

Several large investors have recently modified their holdings of the company. Bank of Montreal Can lifted its holdings in Global Net Lease by 5.1% in the fourth quarter. Bank of Montreal Can now owns 10,655 shares of the financial services provider’s stock valued at $188,000 after buying an additional 517 shares during the period. Capital Investment Advisory Services LLC lifted its holdings in Global Net Lease by 5.8% in the fourth quarter. Capital Investment Advisory Services LLC now owns 11,177 shares of the financial services provider’s stock valued at $197,000 after buying an additional 609 shares during the period. New York State Teachers Retirement System lifted its holdings in Global Net Lease by 2.4% in the fourth quarter. New York State Teachers Retirement System now owns 51,656 shares of the financial services provider’s stock valued at $910,000 after buying an additional 1,190 shares during the period. Daiwa Securities Group Inc. lifted its holdings in Global Net Lease by 13.4% in the fourth quarter. Daiwa Securities Group Inc. now owns 11,866 shares of the financial services provider’s stock valued at $209,000 after buying an additional 1,400 shares during the period. Finally, Neuburgh Advisers LLC acquired a new position in Global Net Lease in the fourth quarter valued at $25,000. Institutional investors own 65.24% 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.

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