Global Net Lease (NYSE:GNL) Issues 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 Stock Up 2.4 %

GNL traded up $0.18 during midday trading on Wednesday, reaching $7.94. 1,603,850 shares of the company were exchanged, compared to its average volume of 1,482,695. The company has a market cap of $1.83 billion, a price-to-earnings ratio of -4.51, a price-to-earnings-growth ratio of 1.00 and a beta of 1.38. Global Net Lease has a one year low of $6.52 and a one year high of $10.19. The company’s fifty day moving average price is $8.43 and its 200 day moving average price is $7.97. 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 earnings results on Tuesday, August 6th. The financial services provider reported ($0.20) earnings per share (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 analysts’ expectations of $204.80 million. Global Net Lease had a negative net margin of 33.26% and a negative return on equity of 9.41%. During the same period in the previous year, the firm earned $0.40 EPS. As a group, analysts expect that Global Net Lease will post 1.27 EPS for the current year.

Global Net Lease Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 16th. Shareholders of record on Friday, October 11th were issued a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 13.86%. The ex-dividend date of this dividend was Friday, October 11th. Global Net Lease’s dividend payout ratio is -63.95%.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In other news, major shareholder Nicholas S. Schorsch purchased 100,000 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The shares were purchased at an average price 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 of the company’s stock, valued at approximately $14,524,213.20. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.31% of the stock is currently owned by 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.