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

Shares of Global Net Lease Inc (NYSE:GNL) have received an average broker rating score of 3.00 (Hold) from the two analysts that cover the stock, Zacks Investment Research reports. Two analysts have rated the stock with a hold recommendation.

Analysts have set a twelve-month consensus price objective of $24.00 for the company and are predicting that the company will post $0.50 earnings per share for the current quarter, according to Zacks. Zacks has also given Global Net Lease an industry rank of 160 out of 257 based on the ratings given to its competitors.

A number of analysts recently commented on GNL shares. ValuEngine upgraded shares of Global Net Lease from a “sell” rating to a “hold” rating in a research note on Wednesday, October 24th. Zacks Investment Research cut shares of Global Net Lease from a “buy” rating to a “hold” rating in a research note on Wednesday, August 22nd. LADENBURG THALM/SH SH started coverage on shares of Global Net Lease in a research note on Monday, October 29th. They issued a “neutral” rating for the company. Finally, B. Riley set a $24.00 target price on shares of Global Net Lease and gave the stock a “hold” rating in a research note on Friday, August 10th.

A number of hedge funds have recently added to or reduced their stakes in the stock. Eii Capital Management Inc. purchased a new position in Global Net Lease during the 2nd quarter worth approximately $112,000. Advisors Asset Management Inc. raised its position in Global Net Lease by 101.8% during the 2nd quarter. Advisors Asset Management Inc. now owns 9,208 shares of the financial services provider’s stock worth $188,000 after buying an additional 4,645 shares during the last quarter. Martingale Asset Management L P purchased a new position in Global Net Lease during the 3rd quarter worth approximately $205,000. Amalgamated Bank purchased a new position in Global Net Lease during the 2nd quarter worth approximately $202,000. Finally, Capital Investment Advisory Services LLC purchased a new position in Global Net Lease during the 3rd quarter worth approximately $220,000. Institutional investors own 56.25% of the company’s stock.

Shares of NYSE:GNL traded down $0.10 during trading on Monday, reaching $21.18. The stock had a trading volume of 427,252 shares, compared to its average volume of 454,041. The stock has a market capitalization of $1.52 billion, a P/E ratio of 10.54 and a beta of 0.50. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.08 and a current ratio of 0.12. Global Net Lease has a one year low of $15.55 and a one year high of $22.53.

Global Net Lease (NYSE:GNL) last released its earnings results on Wednesday, November 7th. The financial services provider reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.03. The company had revenue of $71.92 million during the quarter, compared to analysts’ expectations of $71.22 million. Global Net Lease had a net margin of 8.51% and a return on equity of 1.70%. On average, research analysts forecast that Global Net Lease will post 2.05 EPS for the current year.

The business also recently announced a monthly dividend, which will be paid on Thursday, November 15th. Investors of record on Tuesday, November 13th will be paid a $0.1775 dividend. This represents a $2.13 dividend on an annualized basis and a yield of 10.06%. The ex-dividend date is Friday, November 9th. Global Net Lease’s dividend payout ratio (DPR) is presently 105.97%.

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.

Read More: Price to Earnings Ratio (PE)

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