Zacks: Analysts Set $24.00 Price Target for Global Net Lease Inc (GNL)

Global Net Lease Inc (NYSE:GNL) has received a consensus broker rating score of 3.00 (Hold) from the one analysts that cover the company, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold rating.

Brokerages have set a one year consensus price objective of $24.00 for the company and are forecasting that the company will post $0.51 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Global Net Lease an industry rank of 185 out of 255 based on the ratings given to related companies.

Several equities analysts recently issued reports on the company. ValuEngine raised Global Net Lease from a “sell” rating to a “hold” rating in a research note on Wednesday. Zacks Investment Research lowered Global Net Lease from a “buy” rating to a “hold” rating in a research note on Wednesday, August 22nd. Finally, B. Riley set a $24.00 target price on Global Net Lease and gave the stock a “hold” rating in a research note on Friday, August 10th.



GNL traded down $0.61 during mid-day trading on Friday, hitting $19.97. 12,861 shares of the stock were exchanged, compared to its average volume of 587,635. 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 firm has a market cap of $1.38 billion, a price-to-earnings ratio of 9.97 and a beta of 0.54.

Global Net Lease (NYSE:GNL) last posted its earnings results on Wednesday, August 8th. The financial services provider reported $0.08 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.52 by ($0.44). Global Net Lease had a return on equity of 1.69% and a net margin of 8.68%. The firm had revenue of $70.97 million for the quarter, compared to analyst estimates of $68.81 million. On average, research analysts forecast that Global Net Lease will post 2.05 earnings per share for the current year.

The business also recently declared a monthly dividend, which will be paid on Thursday, November 15th. Shareholders of record on Tuesday, November 13th will be given a $0.1775 dividend. This represents a $2.13 dividend on an annualized basis and a yield of 10.67%. The ex-dividend date is Friday, November 9th. Global Net Lease’s dividend payout ratio is currently 105.97%.

A number of hedge funds have recently bought and sold shares of the business. BlackRock Inc. raised its position in Global Net Lease by 6.2% in the 2nd 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 in the last quarter. Northern Trust Corp grew its position in shares of 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. 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. 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. Finally, Global X Management Co LLC grew its position in shares of 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. 56.15% of the stock is currently owned by 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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