Global Net Lease (NYSE:GNL) Raised to "Overweight" at KeyCorp

Key Points

Error: Response status code does not indicate success: 429 (Too Many Requests).

Global Net Lease (NYSE:GNL - Get Free Report) was upgraded by investment analysts at KeyCorp from a "sector weight" rating to an "overweight" rating in a research note issued on Tuesday, MarketBeat reports. The firm presently has a $9.00 price objective on the financial services provider's stock. KeyCorp's price objective would indicate a potential upside of 14.66% from the stock's current price.

GNL has been the topic of several other reports. B. Riley started coverage on Global Net Lease in a report on Tuesday, April 22nd. They set a "neutral" rating and a $8.00 target price on the stock. Colliers Securities upgraded Global Net Lease from a "neutral" rating to a "buy" rating and set a $12.00 target price on the stock in a report on Thursday, August 7th. Finally, JMP Securities restated a "market outperform" rating and set a $9.00 target price on shares of Global Net Lease in a report on Thursday, June 12th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $9.20.

Global Net Lease Stock Performance

Shares of GNL stock traded up $0.0890 on Tuesday, hitting $7.8490. The company had a trading volume of 1,306,357 shares, compared to its average volume of 1,663,371. The firm has a market cap of $1.73 billion, a P/E ratio of -5.45 and a beta of 1.20. The company has a 50-day moving average price of $7.39 and a 200-day moving average price of $7.54. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.90. Global Net Lease has a twelve month low of $6.51 and a twelve month high of $9.10.

Global Net Lease (NYSE:GNL - Get Free Report) last issued its earnings results on Wednesday, August 6th. The financial services provider reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.04. The business had revenue of $124.91 million for the quarter, compared to analysts' expectations of $138.38 million. Global Net Lease had a negative return on equity of 9.71% and a negative net margin of 43.75%. As a group, equities research analysts predict that Global Net Lease will post 1.26 earnings per share for the current fiscal year.

Insider Transactions at Global Net Lease

In related news, CEO Edward M. Jr. Weil sold 150,000 shares of the firm's stock in a transaction dated Thursday, July 10th. The stock was sold at an average price of $7.61, for a total transaction of $1,141,500.00. Following the transaction, the chief executive officer owned 584,053 shares of the company's stock, valued at $4,444,643.33. This trade represents a 20.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Nicholas S. Schorsch sold 7,103,000 shares of the firm's stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $7.43, for a total value of $52,775,290.00. Following the transaction, the insider directly owned 19,907,384 shares in the company, valued at approximately $147,911,863.12. This represents a 26.30% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,553,000 shares of company stock worth $56,115,790. Corporate insiders own 0.37% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of GNL. Wells Fargo & Company MN raised its position in shares of Global Net Lease by 33.8% during the 4th quarter. Wells Fargo & Company MN now owns 139,987 shares of the financial services provider's stock worth $1,022,000 after purchasing an additional 35,344 shares during the last quarter. Cerity Partners LLC grew its stake in Global Net Lease by 8.1% in the 4th quarter. Cerity Partners LLC now owns 54,517 shares of the financial services provider's stock worth $416,000 after acquiring an additional 4,082 shares during the period. Bank of Montreal Can grew its stake in Global Net Lease by 10.6% in the 4th quarter. Bank of Montreal Can now owns 31,694 shares of the financial services provider's stock worth $231,000 after acquiring an additional 3,040 shares during the period. Renaissance Technologies LLC purchased a new stake in Global Net Lease in the 4th quarter worth approximately $593,000. Finally, Raymond James Financial Inc. purchased a new stake in Global Net Lease in the 4th quarter worth approximately $227,000. 61.19% of the stock is currently owned by institutional investors and hedge funds.

About Global Net Lease

Global Net Lease, Inc NYSE: GNL is a publicly traded real estate investment trust listed on the NYSE. The firm 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.