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 EPS guidance of 1.300-1.400 for the period, compared to the consensus EPS estimate of 1.090. The company issued revenue guidance of -.

Global Net Lease Trading Up 2.2 %

Shares of GNL traded up $0.16 during trading hours on Thursday, reaching $7.39. The stock had a trading volume of 1,242,390 shares, compared to its average volume of 1,604,761. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.66. Global Net Lease has a 52 week low of $6.52 and a 52 week high of $11.58. The firm has a 50-day moving average of $7.24 and a 200 day moving average of $8.22. The company has a market cap of $1.71 billion, a P/E ratio of -4.18, a P/E/G ratio of 0.92 and a beta of 1.34.

Global Net Lease Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 16th. Investors of record on Thursday, April 11th were given a $0.275 dividend. The ex-dividend date was Wednesday, April 10th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 14.88%. This is a boost from Global Net Lease’s previous quarterly dividend of $0.06. Global Net Lease’s dividend payout ratio is currently -63.58%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. BMO Capital Markets initiated coverage on Global Net Lease in a report on Tuesday, February 13th. They set an outperform rating and a $11.00 target price for the company. BTIG Research downgraded shares of Global Net Lease from a buy rating to a neutral rating in a research note on Friday, March 8th. Truist Financial initiated coverage on shares of Global Net Lease in a research note on Thursday, March 28th. They set a hold rating and a $7.00 price objective for the company. Finally, JMP Securities restated a market perform rating on shares of Global Net Lease in a research note on Thursday, April 18th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Global Net Lease has an average rating of Hold and a consensus target price of $12.00.

About Global Net Lease

Global Net Lease, Inc (NYSE: GNL) is a publicly traded real estate investment trust listed on the NYSE 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.