Global Net Lease (NYSE:GNL) Coverage Initiated at B. Riley

Analysts at B. Riley started coverage on shares of Global Net Lease (NYSE:GNL) in a research note issued to investors on Tuesday. The firm set a “neutral” rating and a $8.00 price target on the financial services provider’s stock. B. Riley’s price target would indicate a potential upside of 6.24% from the company’s previous close.

Global Net Lease Trading Down 0.7 %

NYSE GNL opened at $7.53 on Tuesday. Global Net Lease has a one year low of $6.51 and a one year high of $9.11. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.06 and a current ratio of 0.06. The company has a market capitalization of $1.72 billion, a price-to-earnings ratio of -8.01 and a beta of 1.19. The company’s 50-day simple moving average is $7.65 and its two-hundred day simple moving average is $7.54.

Insider Buying and Selling at Global Net Lease

In related news, major shareholder Nicholas S. Schorsch sold 200,000 shares of the business’s stock in a transaction that occurred on Thursday, April 3rd. The shares were sold at an average price of $7.95, for a total transaction of $1,590,000.00. Following the completion of the transaction, the insider now owns 1,629,073 shares in the company, valued at $12,951,130.35. The trade was a 10.93 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.37% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Geode Capital Management LLC grew its stake in shares of Global Net Lease by 1.9% during the third quarter. Geode Capital Management LLC now owns 5,093,659 shares of the financial services provider’s stock worth $42,897,000 after acquiring an additional 95,769 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Global Net Lease by 2.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,171,758 shares of the financial services provider’s stock worth $30,454,000 after purchasing an additional 112,908 shares in the last quarter. Invesco Ltd. boosted its stake in Global Net Lease by 14.8% in the 4th quarter. Invesco Ltd. now owns 3,575,498 shares of the financial services provider’s stock worth $26,101,000 after purchasing an additional 461,173 shares in the last quarter. Helix Partners Management LP purchased a new stake in Global Net Lease during the 4th quarter worth approximately $24,455,000. Finally, Northern Trust Corp increased its stake in Global Net Lease by 26.3% during the 4th quarter. Northern Trust Corp now owns 2,612,357 shares of the financial services provider’s stock valued at $19,070,000 after purchasing an additional 544,719 shares in the last quarter. 61.19% of the stock is currently owned by hedge funds and other institutional investors.

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.