Global Net Lease (NYSE:GNL) Releases FY 2024 Earnings Guidance

Global Net Lease (NYSE:GNL) updated its FY 2024 earnings guidance on Wednesday. The company provided EPS guidance of 1.300-1.400 for the period, compared to the consensus EPS estimate of 1.310. The company issued revenue guidance of -.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Truist Financial boosted their price objective on Global Net Lease from $8.00 to $8.50 and gave the company a “hold” rating in a research report on Wednesday, August 21st. B. Riley cut their target price on shares of Global Net Lease from $11.00 to $10.00 and set a “buy” rating for the company in a research note on Monday, August 12th. Finally, StockNews.com upgraded shares of Global Net Lease from a “sell” rating to a “hold” rating in a research report on Thursday, August 8th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Global Net Lease has a consensus rating of “Hold” and a consensus price target of $9.83.

Global Net Lease Trading Down 0.9 %

Shares of GNL traded down $0.07 on Friday, reaching $7.89. 2,248,878 shares of the company’s stock were exchanged, compared to its average volume of 1,314,238. The business has a 50 day moving average price of $8.39 and a two-hundred day moving average price of $7.98. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.72. Global Net Lease has a 12 month low of $6.52 and a 12 month high of $10.19. The stock has a market capitalization of $1.82 billion, a P/E ratio of -8.39, a price-to-earnings-growth ratio of 1.04 and a beta of 1.38.

Global Net Lease (NYSE:GNL) last posted its earnings results on Tuesday, August 6th. The financial services provider reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.52). Global Net Lease had a negative return on equity of 6.86% and a negative net margin of 21.37%. The company had revenue of $203.29 million for the quarter, compared to analyst estimates of $204.80 million. During the same quarter in the previous year, the firm posted $0.40 earnings per share. Research analysts anticipate that Global Net Lease will post 1.27 earnings per share for the current year.

Global Net Lease Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 16th. Stockholders of record on Friday, October 11th were issued a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 13.94%. The ex-dividend date of this dividend was Friday, October 11th. Global Net Lease’s dividend payout ratio (DPR) is -117.02%.

Insiders Place Their Bets

In other Global Net Lease news, major shareholder Nicholas S. Schorsch acquired 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was acquired at an average cost of $8.40 per share, for a total transaction of $840,000.00. Following the transaction, the insider now owns 1,729,073 shares of the company’s stock, valued at $14,524,213.20. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.31% of the company’s stock.

About Global Net Lease

Global Net Lease, Inc (NYSE: GNL) is a publicly traded real estate investment trust listed on the NYSE. The firm focused on acquiring a diversified global portfolio of commercial properties, with an emphasis on sale-leaseback transactions involving single tenant, mission critical income producing net-leased assets across the United States, Western and Northern Europe.