Global Net Lease (NYSE:GNL) Issues FY 2024 Earnings Guidance

Global Net Lease (NYSE:GNL) updated its FY 2024 earnings guidance on Wednesday. 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 Stock Performance

GNL traded up $0.16 during trading on Thursday, hitting $7.39. 1,242,390 shares of the stock were exchanged, compared to its average volume of 1,604,761. The firm has a market capitalization of $1.71 billion, a P/E ratio of -4.18, a PEG ratio of 0.92 and a beta of 1.34. Global Net Lease has a 1-year low of $6.52 and a 1-year high of $11.58. The stock has a fifty day moving average price of $7.24 and a two-hundred day moving average price of $8.22. 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 Increases Dividend

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

Analyst Upgrades and Downgrades

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

Global Net Lease Company Profile

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.