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

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

A number of other research analysts have also recently issued reports on the company. Citizens Jmp reaffirmed a “market outperform” rating and issued a $10.00 price target on shares of Global Net Lease in a report on Monday, August 31st. BMO Capital Markets upgraded shares of Global Net Lease from a “market perform” rating to an “outperform” rating and set a $10.00 price target on the stock in a research 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 data from MarketBeat, Global Net Lease currently has a consensus rating of “Buy” and a consensus price target of $10.25.

Global Net Lease Trading Up 0.1%

Shares of GNL opened at $7.10 on Wednesday. The stock has a fifty day moving average price of $8.15 and a two-hundred day moving average price of $9.02. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.16 and a current ratio of 0.16. Global Net Lease has a 52-week low of $6.81 and a 52-week high of $10.04. 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 announced its earnings results on Wednesday, August 5th. The financial services provider reported ($0.05) EPS for the quarter, hitting the consensus estimate of ($0.05). The company had revenue of $112.47 million for the quarter, compared to analysts’ expectations of $109.68 million. Global Net Lease had a negative return on equity of 0.81% and a negative net margin of 2.28%.

Hedge Funds Weigh In On Global Net Lease

Large investors have recently made changes to their positions in the company. Private Management Group Inc. boosted its holdings 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 valued at $42,255,000 after acquiring an additional 1,843,181 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in Global Net Lease in the second quarter worth about $11,232,000. Renaissance Technologies LLC raised its holdings in Global Net Lease by 158.9% during the 1st quarter. Renaissance Technologies LLC now owns 1,366,133 shares of the financial services provider’s stock worth $12,787,000 after purchasing an additional 838,500 shares during the last quarter. First Trust Advisors LP raised its holdings in 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 during the last quarter. Finally, North Star Investment Management Corp. raised its holdings in Global Net Lease by 180.5% during the 3rd quarter. North Star Investment Management Corp. now owns 422,151 shares of the financial services provider’s stock worth $3,487,000 after purchasing an additional 271,670 shares during the last quarter. Institutional investors and hedge funds 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.