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 earnings per share (EPS) guidance of 1.300-1.400 for the period, compared to the consensus estimate of 1.310. The company issued revenue guidance of -.

Global Net Lease Stock Performance

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

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

Global Net Lease Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 16th. Stockholders of record on Friday, October 11th were paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis 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 is presently -117.02%.

Analysts Set New Price Targets

Several analysts recently commented on GNL shares. 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. Truist Financial upped their price objective on shares of Global Net Lease from $8.00 to $8.50 and gave the company a “hold” rating in a research note on Wednesday, August 21st. Finally, StockNews.com raised shares of Global Net Lease from a “sell” rating to a “hold” rating in a research report on Thursday, August 8th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $9.83.

Insider Transactions at Global Net Lease

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

Global Net Lease Company Profile

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.