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

Global Net Lease (NYSE:GNL) issued an update on its FY 2024 earnings guidance on Wednesday morning. 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 Price Performance

GNL stock traded down $0.07 during trading on Friday, hitting $7.89. The company had a trading volume of 2,248,878 shares, compared to its average volume of 1,314,238. The company has a fifty 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. The company has a market cap of $1.82 billion, a P/E ratio of -8.39, a P/E/G ratio of 1.04 and a beta of 1.38. Global Net Lease has a fifty-two week low of $6.52 and a fifty-two week high of $10.19.

Global Net Lease (NYSE:GNL) last released its earnings results on Tuesday, August 6th. The financial services provider reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $203.29 million for the quarter, compared to the consensus estimate of $204.80 million. During the same quarter in the previous year, the firm earned $0.40 EPS. Equities research analysts expect that Global Net Lease will post 1.27 earnings per share for the current fiscal year.

Global Net Lease Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 16th. Shareholders of record on Friday, October 11th were paid a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 13.94%. The ex-dividend date was Friday, October 11th. Global Net Lease’s payout ratio is -117.02%.

Analysts Set New Price Targets

GNL has been the subject of a number of research reports. StockNews.com upgraded Global Net Lease from a “sell” rating to a “hold” rating in a report on Thursday, August 8th. B. Riley reduced their target price on 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, Truist Financial lifted their target price on Global Net Lease from $8.00 to $8.50 and gave the stock a “hold” rating in a research note on Wednesday, August 21st. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $9.83.

Insider Buying and Selling at Global Net Lease

In other Global Net Lease news, major shareholder Nicholas S. Schorsch acquired 100,000 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The shares were bought at an average cost of $8.40 per share, with a total value of $840,000.00. Following the purchase, the insider now directly 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate 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.