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

Global Net Lease (NYSE:GNL) announced 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 net margin of 2.94% and a negative return on equity of 1.00%. The firm had revenue of $112.87 million for the quarter, compared to analysts’ expectations of $113.50 million.

Global Net Lease Stock Up 2.4%

Global Net Lease stock traded up $0.17 during mid-day trading on Wednesday, hitting $7.09. The company had a trading volume of 4,388,706 shares, compared to its average volume of 3,024,352. Global Net Lease has a 12 month low of $6.81 and a 12 month high of $10.04. The company has a market capitalization of $1.49 billion, a PE ratio of 7.21 and a beta of 1.09. The stock’s 50 day moving average price is $8.19 and its two-hundred day moving average price is $9.03. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.94.

Global Net Lease Dividend Announcement

The business 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. This represents a $0.76 annualized dividend and a yield of 10.7%. The ex-dividend date of this dividend was Friday, October 9th. Global Net Lease’s payout ratio is -271.43%.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Huntington began coverage on shares of Global Net Lease in a research note on Wednesday, July 15th. They issued a “market perform” rating and a $10.00 price target for the company. Citizens Jmp reissued a “market outperform” rating and set a $10.00 price objective on shares of Global Net Lease in a research note on Monday, August 31st. Finally, BMO Capital Markets upgraded shares of Global Net Lease from a “market perform” rating to an “outperform” rating and set a $10.00 price objective on the stock in a report on Monday, August 17th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Global Net Lease has an average rating of “Buy” and an average target price of $10.25.

Global Net Lease Company Profile

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.