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 Price Performance

GNL traded down $0.07 during trading on Friday, reaching $7.89. The stock had a trading volume of 2,248,878 shares, compared to its average volume of 1,314,238. The stock 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. Global Net Lease has a one year low of $6.52 and a one year high of $10.19. The business has a 50-day moving average of $8.39 and a 200-day moving average of $7.98. 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 firm had revenue of $203.29 million during the quarter, compared to the consensus estimate of $204.80 million. Global Net Lease had a negative return on equity of 6.86% and a negative net margin of 21.37%. During the same period in the prior year, the company posted $0.40 EPS. As a group, equities research analysts anticipate that Global Net Lease will post 1.27 EPS for the current fiscal year.

Global Net Lease Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 16th. Stockholders of record on Friday, October 11th were paid a $0.275 dividend. The ex-dividend date 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 presently -117.02%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on GNL shares. StockNews.com upgraded shares of Global Net Lease from a “sell” rating to a “hold” rating in a report on Thursday, August 8th. B. Riley lowered their target price on shares of 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 price objective on Global Net Lease from $8.00 to $8.50 and gave the company a “hold” rating in a research note on Wednesday, August 21st. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Global Net Lease presently has a consensus rating of “Hold” and an average target price of $9.83.

Insider Buying and Selling at Global Net Lease

In related news, major shareholder Nicholas S. Schorsch purchased 100,000 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The shares were bought at an average price of $8.40 per share, for a total transaction of $840,000.00. Following the acquisition, the insider now directly owns 1,729,073 shares in the company, valued at $14,524,213.20. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this link. 0.31% of the stock is currently owned by corporate 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.