Global Net Lease (NYSE:GNL) Releases 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 1.090. The company issued revenue guidance of -.

Analyst Ratings Changes

Several research firms have recently commented on GNL. BMO Capital Markets began coverage on Global Net Lease in a research note on Tuesday, February 13th. They set an outperform rating and a $11.00 target price for the company. JMP Securities restated a market perform rating on shares of Global Net Lease in a research note on Thursday, April 18th. Truist Financial began coverage on Global Net Lease in a research note on Thursday, March 28th. They set a hold rating and a $7.00 price objective on the stock. Finally, BTIG Research cut Global Net Lease from a buy rating to a neutral rating in a research note on Friday, March 8th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of Hold and an average price target of $12.00.

Global Net Lease Price Performance

Shares of GNL opened at $7.20 on Wednesday. The firm has a market capitalization of $1.66 billion, a price-to-earnings ratio of -4.16, a price-to-earnings-growth ratio of 0.92 and a beta of 1.34. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.05 and a current ratio of 0.05. Global Net Lease has a one year low of $6.52 and a one year high of $11.58. The stock’s fifty day moving average is $7.24 and its 200-day moving average is $8.23.

Global Net Lease Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 16th. Stockholders of record on Thursday, April 11th were issued a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 15.28%. This is a positive change from Global Net Lease’s previous quarterly dividend of $0.06. The ex-dividend date was Wednesday, April 10th. Global Net Lease’s dividend payout ratio (DPR) is -63.58%.

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.