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

Key Points

• Cantor Fitzgerald cut its price target on Global Net Lease from $11 to $9 but maintained an “overweight” rating, implying 26.78% upside from the stock’s current price.
• Analyst sentiment remains positive overall: GNL has a “Moderate Buy” consensus rating and an average price target of $9.75, with four Buy ratings and one Hold.
• In its latest reported quarter, the company met the consensus EPS estimate at a loss of $0.05 per share, while revenue of $112.47 million exceeded analysts’ $109.68 million estimate.

Global Net Lease (NYSE:GNL - Get Free Report) had its price objective dropped by investment analysts at Cantor Fitzgerald from $11.00 to $9.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has an "overweight" rating on the financial services provider's stock. Cantor Fitzgerald's target price would suggest a potential upside of 26.78% from the company's current price.

Several other research firms have also weighed in on GNL. Citizens Jmp reiterated a "market outperform" rating and set a $10.00 target price on shares of Global Net Lease in a report on Monday, August 31st. Huntington initiated coverage on Global Net Lease in a research note on Wednesday. They issued a "hold" rating for the company. Finally, BMO Capital Markets upgraded Global Net Lease from a "market perform" rating to an "outperform" rating and set a $10.00 price target for the company in a report on Monday, August 17th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $9.75.

Global Net Lease Trading Up 0.1%

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

Global Net Lease (NYSE:GNL - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The financial services provider reported ($0.05) earnings per share (EPS) for the quarter, meeting 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 company had revenue of $112.47 million during the quarter, compared to analyst estimates of $109.68 million.

Institutional Investors Weigh In On Global Net Lease

Several large investors have recently made changes to their positions in the stock. Renaissance Technologies LLC raised its stake in shares of Global Net Lease by 158.9% in 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 period. Ameritas Advisory Services LLC boosted its position in shares of Global Net Lease by 387.9% during the second quarter. Ameritas Advisory Services LLC now owns 84,174 shares of the financial services provider's stock worth $753,000 after buying an additional 66,921 shares during the period. Quantinno Capital Management LP boosted its position in shares of Global Net Lease by 107.9% during the first quarter. Quantinno Capital Management LP now owns 242,224 shares of the financial services provider's stock worth $2,267,000 after buying an additional 125,721 shares during the period. Public Employees Retirement System of Ohio acquired a new position in shares of Global Net Lease during the second quarter worth about $1,969,000. Finally, Bank of New York Mellon Corp bought a new position in shares of Global Net Lease during the second quarter worth about $11,232,000. Institutional investors own 61.19% of the company's stock.

About Global Net Lease

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.