Global Net Lease (NYSE:GNL) Issues 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 %

Shares of NYSE:GNL traded down $0.07 during midday trading on Friday, hitting $7.89. The stock had a trading volume of 2,248,878 shares, compared to its average volume of 1,314,238. The company has a market cap of $1.82 billion, a P/E ratio of -8.39, a PEG ratio of 1.04 and a beta of 1.38. Global Net Lease has a 12 month low of $6.52 and a 12 month high of $10.19. The business’s 50-day simple moving average is $8.39 and its 200-day simple moving average is $7.98. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.72.

Global Net Lease (NYSE:GNL) last announced its quarterly earnings data on Tuesday, August 6th. The financial services provider reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $203.29 million during the quarter, compared to the consensus estimate of $204.80 million. During the same period last year, the business earned $0.40 EPS. On average, sell-side analysts forecast that Global Net Lease will post 1.27 earnings per share for the current fiscal year.

Global Net Lease Announces Dividend

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

Wall Street Analyst Weigh In

GNL has been the subject of several research analyst reports. 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. B. Riley decreased their price objective on shares of Global Net Lease from $11.00 to $10.00 and set a “buy” rating on the stock in a report on Monday, August 12th. 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 research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $9.83.

Insider Buying and Selling at Global Net Lease

In other news, major shareholder Nicholas S. Schorsch bought 100,000 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The stock was bought at an average price of $8.40 per share, with a total value of $840,000.00. Following the completion of the acquisition, the insider now owns 1,729,073 shares of the company’s stock, valued at $14,524,213.20. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 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.