Cantor Fitzgerald Has Lowered Expectations for Global Net Lease (NYSE:GNL) Stock Price

Global Net Lease (NYSE:GNL) had its price target reduced by investment analysts at Cantor Fitzgerald from $11.00 to $9.00 in a report issued on Friday, Benzinga reports. The brokerage presently has an “overweight” rating on the financial services provider’s stock. Cantor Fitzgerald‘s price target would suggest a potential upside of 31.29% from the stock’s previous close.

A number of other research analysts have also recently issued reports on the company. BMO Capital Markets upgraded Global Net Lease from a “market perform” rating to an “outperform” rating and set a $10.00 price objective for the company in a research note on Monday, August 17th. Citizens Jmp reissued a “market outperform” rating and issued a $10.00 target price on shares of Global Net Lease in a research note on Monday, August 31st. Finally, Huntington began coverage on Global Net Lease in a research note on Wednesday. They issued a “hold” rating on the stock. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, Global Net Lease has a consensus rating of “Moderate Buy” and an average price target of $9.75.

Global Net Lease Price Performance

GNL stock opened at $6.86 on Friday. The firm has a 50 day moving average price of $8.10 and a 200-day moving average price of $9.00. Global Net Lease has a 52-week low of $6.81 and a 52-week high of $10.04. The firm has a market capitalization of $1.45 billion, a price-to-earnings ratio of -25.39 and a beta of 1.09. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.16 and a current ratio of 0.16.

Global Net Lease (NYSE:GNL) last issued its quarterly earnings results on Wednesday, August 5th. The financial services provider reported ($0.05) EPS for the quarter, hitting analysts’ consensus estimates of ($0.05). Global Net Lease had a negative return on equity of 0.81% and a negative net margin of 2.28%. The firm had revenue of $112.47 million for the quarter, compared to analysts’ expectations of $109.68 million.

Institutional Investors Weigh In On Global Net Lease

A number of institutional investors have recently made changes to their positions in GNL. Renaissance Technologies LLC boosted its stake in Global Net Lease by 158.9% during the 1st quarter. Renaissance Technologies LLC now owns 1,366,133 shares of the financial services provider’s stock valued at $12,787,000 after purchasing an additional 838,500 shares during the last quarter. Ameritas Advisory Services LLC increased its holdings in shares of Global Net Lease by 387.9% in the 2nd quarter. Ameritas Advisory Services LLC now owns 84,174 shares of the financial services provider’s stock worth $753,000 after purchasing an additional 66,921 shares in the last quarter. Quantinno Capital Management LP increased its holdings in shares of Global Net Lease by 107.9% in the 1st quarter. Quantinno Capital Management LP now owns 242,224 shares of the financial services provider’s stock worth $2,267,000 after purchasing an additional 125,721 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new position in shares of Global Net Lease in the second quarter worth $1,969,000. Finally, Bank of New York Mellon Corp purchased a new position in shares of Global Net Lease in the second quarter worth $11,232,000. Hedge funds and other 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.