Global Net Lease (NYSE:GNL) Stock Price Target Cut by Cantor Fitzgerald

Global Net Lease (NYSE:GNL) had its price target decreased by equities research analysts at Cantor Fitzgerald from $11.00 to $9.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage presently has an “overweight” rating on the financial services provider’s stock. Cantor Fitzgerald‘s price objective points to a potential upside of 26.78% from the stock’s current price.

A number of other research analysts also recently weighed in on GNL. Huntington initiated coverage on shares of Global Net Lease in a research report on Wednesday. They issued a “hold” rating for the company. BMO Capital Markets raised 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. Finally, Citizens Jmp restated a “market outperform” rating and set a $10.00 price objective on shares of Global Net Lease in a research note on Monday, August 31st. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $9.75.

Global Net Lease Price Performance

NYSE GNL opened at $7.10 on Friday. The firm’s 50 day moving average is $8.15 and its 200-day moving average is $9.02. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.94. The company has a market capitalization of $1.50 billion, a PE ratio of -26.29 and a beta of 1.09. Global Net Lease has a 12-month low of $6.81 and a 12-month high of $10.04.

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). Global Net Lease had a negative net margin of 2.28% and a negative return on equity of 0.81%. The business had revenue of $112.47 million during the quarter, compared to analysts’ expectations of $109.68 million.

Hedge Funds Weigh In On Global Net Lease

Hedge funds and other institutional investors have recently bought and sold shares of the business. Private Management Group Inc. increased its position in Global Net Lease by 56.3% during the third quarter. Private Management Group Inc. now owns 5,115,564 shares of the financial services provider’s stock worth $42,255,000 after buying an additional 1,843,181 shares during the last quarter. Renaissance Technologies LLC raised its stake in Global Net Lease by 158.9% in the first quarter. Renaissance Technologies LLC now owns 1,366,133 shares of the financial services provider’s stock valued at $12,787,000 after buying an additional 838,500 shares during the period. Bank of New York Mellon Corp bought a new stake in Global Net Lease in the second quarter valued at approximately $11,232,000. Principal Financial Group Inc. raised its stake in Global Net Lease by 2.0% in the first quarter. Principal Financial Group Inc. now owns 958,365 shares of the financial services provider’s stock valued at $8,970,000 after buying an additional 18,661 shares during the period. Finally, First Trust Advisors LP lifted its position in shares of Global Net Lease by 282.7% in the first quarter. First Trust Advisors LP now owns 614,335 shares of the financial services provider’s stock valued at $5,750,000 after buying an additional 453,808 shares during the last quarter. Institutional investors own 61.19% of the company’s stock.

Global Net Lease Company Profile

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.