Global Net Lease (NYSE:GNL) raised to buy from Zacks Investment Research
Global Net Lease (NYSE:GNL – Get a Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report released Friday to clients and investors, Zacks.com reports. The company currently has a price target of $17.00 on shares of the financial services provider. Zacks Investment Research’s price target suggests a potential upside of 12.73% from the stock’s previous close.
According to Zacks, “Global Net Lease, Inc. is a real estate investment trust that focuses on sale-leaseback properties primarily in the United States and Europe. Global Net Lease, Inc. is based in New York, USA. “
Several other brokerages have also recently released reports on LNG. StockNews.com supported coverage of Global Net Lease in a Thursday, March 31 research report. They have placed a “holding” rating on the stock. BTIG Research lowered its price target on Global Net Lease from $23.00 to $19.00 and placed a “buy” rating on the stock in a Monday, March 14 research report. Three analysts have rated the stock with a hold rating and three have issued a buy rating for the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $19.76.
LNG shares traded down $0.15 during the midday session on Friday, hitting $15.08. 373,990 shares of the stock traded in hands, compared to its average volume of 855,527. Global Net Lease has a 12-month low of $13.52 and a 12-month high of $20.11. The company has a market capitalization of $1.57 billion, a price-to-earnings ratio of -71.81, a growth price-to-earnings ratio of 1.41 and a beta of 1.12. The company’s 50-day simple moving average is $14.97 and its 200-day simple moving average is $15.12. The company has a debt ratio of 0.31, a quick ratio of 0.05 and a current ratio of 0.05.
Global Net Lease (NYSE:GNL – Get Rating) last released its quarterly results on Thursday, February 24. The financial services provider reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 per ($0.49). Global Net Lease posted a net margin of 2.91% and a return on equity of 0.69%. During the same period last year, the company achieved EPS of $0.45. Analysts expect Global Net Lease to post 1.79 earnings per share for the current year.
Hedge funds and other institutional investors have recently changed their stock holdings. Daiwa Securities Group Inc. increased its position in Global Net Lease shares by 9.8% in the fourth quarter. Daiwa Securities Group Inc. now owns 29,743 shares of the financial services provider worth $454,000 after purchasing an additional 2,655 shares during the period. Sound Income Strategies LLC increased its position in Global Net Lease shares by 29.0% in the fourth quarter. Sound Income Strategies LLC now owns 270,266 shares of the financial services provider worth $4,130,000 after purchasing an additional 60,820 shares during the period. Cetera Advisors LLC increased its position in Global Net Lease shares by 5.7% in the third quarter. Cetera Advisors LLC now owns 15,919 shares of the financial services provider worth $255,000 after purchasing an additional 865 shares during the period. Centaurus Financial Inc. acquired a new equity stake in Global Net Lease in the fourth quarter valued at $102,000. Finally, BOKF NA acquired a new equity stake in Global Net Lease in the third quarter at a value of $438,000. Institutional investors and hedge funds hold 69.31% of the company’s shares.
About Global Net Lease (Get a rating)
Global Net Lease, Inc (NYSE: GNL) is a publicly traded, NYSE-listed real estate investment trust focused on acquiring a diversified global portfolio of commercial properties, with an emphasis on disposal transactions -lease involving a single tenant, net revenues generating mission-critical revenue. – leased assets across the United States, Western and Northern Europe.
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