Global Net Lease (NYSE:GNL) Updates 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 Down 0.9 %

GNL traded down $0.07 on Friday, hitting $7.89. 2,248,878 shares of the company were exchanged, compared to its average volume of 1,314,238. The stock’s fifty day moving average is $8.39 and its 200-day moving average is $7.98. Global Net Lease has a 12 month low of $6.52 and a 12 month high of $10.19. The company has a market cap of $1.82 billion, a PE ratio of -8.39, a PEG ratio of 1.04 and a beta of 1.38. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.05 and a current ratio of 0.05.

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

Global Net Lease Announces Dividend

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

Wall Street Analysts Forecast Growth

GNL has been the topic of a number of analyst reports. Truist Financial upped their target price on shares of Global Net Lease from $8.00 to $8.50 and gave the stock a “hold” rating in a report on Wednesday, August 21st. StockNews.com raised shares of Global Net Lease from a “sell” rating to a “hold” rating in a report on Thursday, August 8th. Finally, B. Riley lowered their price target on Global Net Lease from $11.00 to $10.00 and set a “buy” rating on the stock in a research report on Monday, August 12th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Global Net Lease currently has a consensus rating of “Hold” and a consensus price target of $9.83.

Insider Buying and Selling

In related news, major shareholder Nicholas S. Schorsch acquired 100,000 shares of the stock in a transaction on Wednesday, October 2nd. The stock was bought at an average cost of $8.40 per share, with a total value of $840,000.00. Following the transaction, the insider now directly owns 1,729,073 shares in the company, valued at approximately $14,524,213.20. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.31% of the stock is owned by company insiders.

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.