Global Net Lease (NYSE:GNL) Posts Quarterly Earnings Results

Global Net Lease (NYSE:GNL) released its quarterly earnings data on Wednesday. The financial services provider reported ($0.31) earnings per share for the quarter, FiscalAI reports. Global Net Lease had a negative return on equity of 1.00% and a negative net margin of 2.94%. The business had revenue of $112.87 million during the quarter, compared to analysts’ expectations of $113.50 million.

Global Net Lease Stock Up 2.4%

NYSE:GNL traded up $0.17 during mid-day trading on Wednesday, hitting $7.09. 4,388,706 shares of the company’s stock traded hands, compared to its average volume of 3,024,352. The company has a fifty day moving average of $8.19 and a 200 day moving average of $9.03. Global Net Lease has a twelve month low of $6.81 and a twelve month high of $10.04. The company has a market capitalization of $1.49 billion, a P/E ratio of 7.21 and a beta of 1.09. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.16 and a current ratio of 0.16.

Global Net Lease Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 16th. Investors of record on Monday, October 12th were paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 10.7%. The ex-dividend date was Friday, October 9th. Global Net Lease’s payout ratio is -271.43%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on GNL. Huntington began coverage on shares of Global Net Lease in a research note on Wednesday, July 15th. They issued a “market perform” rating and a $10.00 price objective for the company. Citizens Jmp reaffirmed a “market outperform” rating and set a $10.00 target price on shares of Global Net Lease in a research report on Monday, August 31st. Finally, BMO Capital Markets upgraded Global Net Lease from a “market perform” rating to an “outperform” rating and set a $10.00 price target on the stock in a report on Monday, August 17th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, Global Net Lease currently has an average rating of “Buy” and an average target price of $10.25.

Global Net Lease Company Profile

Global Net Lease, Inc (NYSE:GNL) is a real estate investment trust that owns and manages a diversified portfolio of commercial properties subject to long-term, net leases. Under these arrangements, tenants generally pay property operating expenses such as taxes, insurance and maintenance, which can provide the company with relatively predictable rental income.

The company invests primarily in single-tenant office, industrial and retail properties leased to corporate and other commercial tenants.