Pictet Asset Management Ltd. bought a new position in shares of Global Net Lease Inc (NYSE:GNL) during the 1st quarter, according to its most recent 13F filing with the SEC. The fund bought 13,100 shares of the financial services provider’s stock, valued at approximately $248,000.
Several other hedge funds and other institutional investors also recently modified their holdings of the business. Neuburgh Advisers LLC purchased a new stake in shares of Global Net Lease in the 4th quarter worth about $25,000. Oregon Public Employees Retirement Fund purchased a new stake in shares of Global Net Lease in the 4th quarter worth about $29,000. Quantamental Technologies LLC purchased a new stake in shares of Global Net Lease in the 4th quarter worth about $31,000. Lindbrook Capital LLC purchased a new stake in shares of Global Net Lease in the 4th quarter worth about $31,000. Finally, Versant Capital Management Inc boosted its position in shares of Global Net Lease by 274.7% in the 1st quarter. Versant Capital Management Inc now owns 1,641 shares of the financial services provider’s stock worth $31,000 after buying an additional 1,203 shares in the last quarter. Institutional investors own 63.48% of the company’s stock.
Several research firms recently commented on GNL. Zacks Investment Research upgraded shares of Global Net Lease from a “sell” rating to a “hold” rating in a research report on Wednesday, May 15th. B. Riley upgraded shares of Global Net Lease from a “neutral” rating to a “buy” rating and decreased their price objective for the stock from $25.00 to $24.00 in a research report on Friday, March 15th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $24.00.
Shares of GNL stock opened at $19.39 on Thursday. Global Net Lease Inc has a twelve month low of $16.95 and a twelve month high of $22.53. The stock has a market capitalization of $1.61 billion, a P/E ratio of 9.06 and a beta of 0.69. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.08 and a quick ratio of 0.08.
Global Net Lease (NYSE:GNL) last announced its earnings results on Thursday, May 9th. The financial services provider reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.43). Global Net Lease had a net margin of 4.96% and a return on equity of 1.00%. The firm had revenue of $75.47 million during the quarter, compared to analyst estimates of $75.92 million. On average, analysts expect that Global Net Lease Inc will post 1.92 EPS for the current year.
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About Global Net Lease
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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