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

Global Net Lease (NYSE:GNL) released its quarterly earnings data on Wednesday. The financial services provider reported ($0.31) EPS 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 the consensus estimate of $113.50 million.

Global Net Lease Stock Performance

NYSE:GNL traded up $0.17 on Wednesday, hitting $7.09. The stock had a trading volume of 4,388,706 shares, compared to its average volume of 3,024,352. The stock has a market cap of $1.49 billion, a price-to-earnings ratio of 7.21 and a beta of 1.09. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.94. The business’s 50-day simple moving average is $8.19 and its two-hundred day simple moving average is $9.03. Global Net Lease has a 52-week low of $6.81 and a 52-week high of $10.04.

Global Net Lease Dividend Announcement

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

Wall Street Analyst Weigh In

GNL has been the subject of several research reports. BMO Capital Markets raised shares of Global Net Lease from a “market perform” rating to an “outperform” rating and set a $10.00 price objective for the company in a report on Monday, August 17th. Citizens Jmp reaffirmed a “market outperform” rating and issued a $10.00 target price on shares of Global Net Lease in a research report on Monday, August 31st. Finally, Huntington started coverage on shares of Global Net Lease in a research report on Wednesday, July 15th. They issued a “market perform” rating and a $10.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $10.25.

About Global Net Lease

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.