Global Net Lease (NYSE:GNL) Given New $9.00 Price Target at Cantor Fitzgerald

Global Net Lease (NYSE:GNL) had its target price trimmed by Cantor Fitzgerald from $11.00 to $9.00 in a research note released on Friday,Benzinga reports. The firm currently has an overweight rating on the financial services provider’s stock.

A number of other equities analysts have also commented on GNL. BMO Capital Markets upgraded shares of Global Net Lease from a “market perform” rating to an “outperform” rating and set a $10.00 price objective on the stock in a report on Monday, August 17th. Huntington assumed coverage on Global Net Lease in a research note on Wednesday. They set a “hold” rating for the company. Finally, Citizens Jmp reaffirmed a “market outperform” rating and set a $10.00 target price on shares of Global Net Lease in a research report 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 company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $9.75.

Global Net Lease Stock Down 3.6%

NYSE:GNL traded down $0.26 during trading hours on Friday, hitting $6.86. The stock had a trading volume of 5,125,034 shares, compared to its average volume of 2,998,252. The company has a market cap of $1.45 billion, a PE ratio of -25.39 and a beta of 1.09. The business has a 50 day simple moving average of $8.10 and a two-hundred day simple moving average of $9.00. Global Net Lease has a 1-year low of $6.81 and a 1-year high of $10.04. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.94.

Global Net Lease (NYSE:GNL) last posted its earnings results on Wednesday, August 5th. The financial services provider reported ($0.05) EPS for the quarter, hitting analysts’ consensus estimates of ($0.05). The business had revenue of $112.47 million for the quarter, compared to analysts’ expectations of $109.68 million. Global Net Lease had a negative net margin of 2.94% and a negative return on equity of 1.00%.

Global Net Lease Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 16th. Stockholders of record on Monday, October 12th were given a dividend of $0.19 per share. The ex-dividend date of this dividend was Friday, October 9th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 11.1%. Global Net Lease’s dividend payout ratio (DPR) is presently -271.43%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in GNL. Private Management Group Inc. grew its holdings in Global Net Lease by 56.3% during the 3rd quarter. Private Management Group Inc. now owns 5,115,564 shares of the financial services provider’s stock worth $42,255,000 after acquiring an additional 1,843,181 shares in the last quarter. 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 in the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of Global Net Lease in the 2nd quarter valued at about $11,232,000. Principal Financial Group Inc. lifted its position in shares of Global Net Lease by 2.0% during the first quarter. Principal Financial Group Inc. now owns 958,365 shares of the financial services provider’s stock worth $8,970,000 after purchasing an additional 18,661 shares during the last quarter. Finally, First Trust Advisors LP lifted its position in shares of Global Net Lease by 282.7% during the first quarter. First Trust Advisors LP now owns 614,335 shares of the financial services provider’s stock worth $5,750,000 after purchasing an additional 453,808 shares during the last quarter. 61.19% of the stock is currently owned by institutional investors.

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.