Global Net Lease (NYSE:GNL) had its price target lifted by B. Riley from $24.00 to $25.00 in a research report sent to investors on Monday, November 12th, MarketBeat reports. B. Riley currently has a neutral rating on the financial services provider’s stock. B. Riley also issued estimates for Global Net Lease’s Q4 2018 earnings at $0.54 EPS, FY2018 earnings at $2.14 EPS, Q1 2019 earnings at $0.55 EPS, Q2 2019 earnings at $0.56 EPS, Q3 2019 earnings at $0.54 EPS, Q4 2019 earnings at $0.54 EPS, FY2019 earnings at $2.18 EPS and FY2020 earnings at $2.24 EPS.
Several other research analysts also recently issued reports on the stock. ValuEngine upgraded shares of Global Net Lease from a sell rating to a hold rating in a research note on Wednesday, October 24th. LADENBURG THALM/SH SH initiated coverage on shares of Global Net Lease in a research note on Monday, October 29th. They issued a neutral rating on the stock. Finally, Zacks Investment Research downgraded shares of Global Net Lease from a hold rating to a sell rating in a research note on Wednesday, October 10th.
Shares of GNL stock traded up $0.53 during mid-day trading on Monday, reaching $20.21. The stock had a trading volume of 1,372,207 shares, compared to its average volume of 615,543. The stock has a market capitalization of $1.42 billion, a price-to-earnings ratio of 10.05 and a beta of 0.50. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.32. Global Net Lease has a 52-week low of $15.55 and a 52-week high of $22.53.
Global Net Lease (NYSE:GNL) last announced its earnings results on Wednesday, November 7th. The financial services provider reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.03. Global Net Lease had a net margin of 8.51% and a return on equity of 1.70%. The firm had revenue of $71.92 million for the quarter, compared to analyst estimates of $71.22 million. Equities analysts predict that Global Net Lease will post 2.14 EPS for the current year.
The business also recently disclosed a monthly dividend, which was paid on Thursday, November 15th. Stockholders of record on Tuesday, November 13th were issued a dividend of $0.1775 per share. The ex-dividend date was Friday, November 9th. This represents a $2.13 annualized dividend and a dividend yield of 10.54%. Global Net Lease’s payout ratio is 105.97%.
Several institutional investors and hedge funds have recently added to or reduced their stakes in GNL. Eii Capital Management Inc. purchased a new stake in Global Net Lease during the second quarter valued at approximately $112,000. Advisors Asset Management Inc. increased its holdings in Global Net Lease by 352.8% during the second quarter. Advisors Asset Management Inc. now owns 20,659 shares of the financial services provider’s stock valued at $188,000 after buying an additional 16,096 shares during the last quarter. Belpointe Asset Management LLC purchased a new stake in Global Net Lease during the third quarter valued at approximately $190,000. Amalgamated Bank purchased a new stake in Global Net Lease during the second quarter valued at approximately $202,000. Finally, Martingale Asset Management L P purchased a new stake in Global Net Lease during the third quarter valued at approximately $205,000. 59.56% of the stock is owned by hedge funds and other institutional investors.
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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