Global Net Lease Inc (GNL) Given $24.00 Consensus Price Target by Brokerages

Global Net Lease Inc (NYSE:GNL) has earned a consensus broker rating score of 3.00 (Hold) from the one brokers that provide coverage for the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a hold recommendation.

Analysts have set a 12 month consensus price target of $24.00 for the company and are forecasting that the company will post $0.52 EPS for the current quarter, according to Zacks. Zacks has also assigned Global Net Lease an industry rank of 164 out of 255 based on the ratings given to related companies.

GNL has been the subject of a number of research analyst reports. Zacks Investment Research raised shares of Global Net Lease from a “hold” rating to a “buy” rating and set a $20.00 target price for the company in a report on Wednesday, April 25th. ValuEngine cut shares of Global Net Lease from a “hold” rating to a “sell” rating in a report on Saturday, June 2nd.

Global Net Lease stock traded down $0.19 during mid-day trading on Tuesday, reaching $21.72. The company had a trading volume of 450,878 shares, compared to its average volume of 362,480. Global Net Lease has a 1 year low of $15.55 and a 1 year high of $22.53. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.34. The stock has a market cap of $1.49 billion, a PE ratio of 10.81 and a beta of 0.52.

Global Net Lease (NYSE:GNL) last issued its earnings results on Wednesday, August 8th. The financial services provider reported $0.08 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.52 by ($0.44). Global Net Lease had a net margin of 8.68% and a return on equity of 1.69%. The company had revenue of $70.97 million during the quarter, compared to analysts’ expectations of $68.81 million. sell-side analysts forecast that Global Net Lease will post 2.05 EPS for the current fiscal year.

The business also recently announced a monthly dividend, which was paid on Monday, July 16th. Shareholders of record on Friday, July 13th were issued a $0.1775 dividend. The ex-dividend date of this dividend was Thursday, July 12th. This represents a $2.13 dividend on an annualized basis and a yield of 9.81%. Global Net Lease’s dividend payout ratio (DPR) is presently 105.97%.

Several hedge funds have recently added to or reduced their stakes in the company. Great West Life Assurance Co. Can grew its position in shares of Global Net Lease by 4.4% in the second quarter. Great West Life Assurance Co. Can now owns 93,872 shares of the financial services provider’s stock valued at $1,918,000 after purchasing an additional 3,915 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Global Net Lease by 10.3% in the second quarter. Dimensional Fund Advisors LP now owns 936,023 shares of the financial services provider’s stock valued at $19,123,000 after purchasing an additional 87,629 shares during the last quarter. Legal & General Group Plc grew its position in shares of Global Net Lease by 5.5% in the second quarter. Legal & General Group Plc now owns 347,308 shares of the financial services provider’s stock valued at $7,103,000 after purchasing an additional 18,005 shares during the last quarter. BlackRock Inc. grew its position in shares of Global Net Lease by 6.2% in the second quarter. BlackRock Inc. now owns 10,372,182 shares of the financial services provider’s stock valued at $211,904,000 after purchasing an additional 604,259 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in shares of Global Net Lease by 3.6% in the second quarter. Bank of New York Mellon Corp now owns 1,183,017 shares of the financial services provider’s stock valued at $24,169,000 after purchasing an additional 40,708 shares during the last quarter. Institutional investors and hedge funds own 59.25% of the company’s stock.

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.

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