B.Riley FBR Remains a Hold on Global Net Lease

By Carrie Williams

In a report released today, David Corak from B.Riley FBR reiterated a Hold rating on Global Net Lease (NYSE: GNL), with a price target of $22. The company’s shares opened today at $15.67, close to its 52-week low of $15.66.

Corak commented:

“GNL reported 4Q core FFO that came in line with our estimate and acquired eight properties, seven industrial/distribution and one office, for roughly $61 million. The company also announced a very robust pipeline for 2018, consisting of seven different deals for an aggregate purchase price of roughly $293.0 million. Going forward, the company reiterated its intention of shifting the portfolio mix towards a higher U.S. exposure, encompassed primarily by industrial assets. From a balance sheet perspective, the company entered into an $187.0 million CMBS agreement with a 10-year term, which helped to extend its weighted average debt maturity to 3.7 years (from 3.1 as of 3Q).”

According to TipRanks.com, Corak is a 1-star analyst with an average return of -2.5% and a 36.6% success rate. Corak covers the Financial sector, focusing on stocks such as National Storage Affiliates Trust, Preferred Apartment Communities, and NorthStar Realty Europe Corp.

Global Net Lease has an analyst consensus of Hold, with a price target consensus of $22.

Global Net Lease’s market cap is currently $1.1B and has a P/E ratio of 33.49. The company has a book value ratio of 0.7890.

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Global Net Lease, Inc. is a real estate investment trust company that engages in the acquisition of diversified global portfolio of commercial properties with an emphasis on sale leaseback transactions involving single tenant, mission critical income producing net leased assets across Western Europe and the United States. It owns properties located in the United States, the United Kingdom, and the Commonwealth of Puerto Rico. The company was founded on July 13, 2011 and is headquartered in New York, NY.