Global Net Lease (GNL) Posts Earnings Results, Beats Expectations By $0.03 EPS

Global Net Lease (NYSE:GNL) released its earnings results on Wednesday. The financial services provider reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.03, Morningstar.com reports. The company had revenue of $71.92 million during the quarter, compared to the consensus estimate of $71.22 million. Global Net Lease had a return on equity of 1.69% and a net margin of 8.68%.

NYSE GNL traded down $0.38 on Friday, reaching $21.08. The company had a trading volume of 10,625 shares, compared to its average volume of 452,633. The company has a market capitalization of $1.45 billion, a PE ratio of 10.49 and a beta of 0.50. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.34. Global Net Lease has a 52 week low of $15.55 and a 52 week high of $22.53.

The business also recently disclosed a monthly dividend, which will be paid on Thursday, November 15th. Investors of record on Tuesday, November 13th will be issued a $0.1775 dividend. The ex-dividend date is Friday, November 9th. This represents a $2.13 dividend on an annualized basis and a yield of 10.10%. Global Net Lease’s dividend payout ratio is presently 105.97%.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its holdings in 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. Dimensional Fund Advisors LP increased its holdings in 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. Global X Management Co LLC increased its holdings in Global Net Lease by 4.1% in the second quarter. Global X Management Co LLC now owns 748,097 shares of the financial services provider’s stock valued at $15,284,000 after purchasing an additional 29,392 shares during the last quarter. Orinda Asset Management LLC bought a new stake in Global Net Lease in the third quarter valued at about $930,000. Finally, Northern Trust Corp increased its holdings in Global Net Lease by 0.9% in the second quarter. Northern Trust Corp now owns 1,216,434 shares of the financial services provider’s stock valued at $24,852,000 after purchasing an additional 10,516 shares during the last quarter. Institutional investors and hedge funds own 56.25% of the company’s stock.

A number of research firms have recently weighed in on GNL. Zacks Investment Research upgraded Global Net Lease from a “hold” rating to a “buy” rating and set a $25.00 target price for the company in a research report on Wednesday, August 15th. B. Riley set a $24.00 target price on Global Net Lease and gave the stock a “hold” rating in a research report on Friday, August 10th. ValuEngine downgraded Global Net Lease from a “hold” rating to a “sell” rating in a research report on Wednesday, October 3rd. Finally, LADENBURG THALM/SH SH started coverage on Global Net Lease in a report on Monday, October 29th. They issued a “neutral” rating for the company.

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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.

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Earnings History for Global Net Lease (NYSE:GNL)

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