Equities analysts expect Global Net Lease, Inc. (NYSE:GNL) to announce $95.57 million in sales for the current quarter, Zacks reports. Two analysts have made estimates for Global Net Lease's earnings, with the highest sales estimate coming in at $96.63 million and the lowest estimate coming in at $94.50 million. Global Net Lease reported sales of $82.71 million during the same quarter last year, which indicates a positive year-over-year growth rate of 15.5%. The firm is expected to issue its next quarterly earnings report on Thursday, November 4th.
On average, analysts expect that Global Net Lease will report full-year sales of $381.39 million for the current financial year, with estimates ranging from $378.13 million to $384.65 million. For the next year, analysts expect that the firm will report sales of $395.50 million, with estimates ranging from $381.64 million to $409.36 million. Zacks Investment Research's sales averages are a mean average based on a survey of analysts that follow Global Net Lease.
Global Net Lease (NYSE:GNL) last posted its earnings results on Thursday, August 5th. The financial services provider reported ($0.14) earnings per share (EPS) for the quarter, missing the Zacks' consensus estimate of $0.43 by ($0.57). Global Net Lease had a return on equity of 0.15% and a net margin of 0.67%.
GNL has been the topic of several research analyst reports. Colliers Securities initiated coverage on Global Net Lease in a research note on Thursday, June 17th. They set a "neutral" rating and a $21.00 price objective on the stock. Zacks Investment Research cut Global Net Lease from a "hold" rating to a "strong sell" rating in a research note on Friday, August 13th. KeyCorp initiated coverage on Global Net Lease in a research note on Tuesday, July 20th. They set a "sector weight" rating and a $17.82 price objective on the stock. Finally, B. Riley raised their price objective on Global Net Lease from $23.00 to $24.00 and gave the stock a "buy" rating in a research note on Tuesday, June 15th.
In other news, Director Edward M. Jr. Weil sold 32,653 shares of the firm's stock in a transaction on Monday, June 28th. The stock was sold at an average price of $18.36, for a total transaction of $599,509.08. Following the transaction, the director now directly owns 54,671 shares of the company's stock, valued at $1,003,759.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Edward M. Jr. Weil sold 35,000 shares of the firm's stock in a transaction on Friday, June 25th. The shares were sold at an average price of $18.51, for a total value of $647,850.00. Following the transaction, the director now directly owns 54,671 shares in the company, valued at $1,011,960.21. The disclosure for this sale can be found here. Company insiders own 0.19% of the company's stock.
A number of large investors have recently added to or reduced their stakes in GNL. Stonebridge Capital Advisors LLC purchased a new position in Global Net Lease in the 1st quarter worth about $33,000. Quantbot Technologies LP purchased a new position in Global Net Lease in the 1st quarter worth about $81,000. Global Wealth Management Investment Advisory Inc. increased its stake in Global Net Lease by 17.2% in the 1st quarter. Global Wealth Management Investment Advisory Inc. now owns 6,129 shares of the financial services provider's stock worth $111,000 after purchasing an additional 901 shares in the last quarter. Point72 Hong Kong Ltd increased its stake in Global Net Lease by 373.5% in the 1st quarter. Point72 Hong Kong Ltd now owns 6,193 shares of the financial services provider's stock worth $112,000 after purchasing an additional 4,885 shares in the last quarter. Finally, Schroder Investment Management Group purchased a new position in Global Net Lease in the 1st quarter worth about $121,000. 67.44% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE:GNL opened at $16.30 on Thursday. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.28. Global Net Lease has a 52-week low of $13.95 and a 52-week high of $20.11. The company has a 50 day moving average of $17.57 and a two-hundred day moving average of $18.41. The company has a market capitalization of $1.63 billion, a price-to-earnings ratio of -52.58, a price-to-earnings-growth ratio of 1.62 and a beta of 1.17.
The business also recently announced a quarterly dividend, which was paid on Thursday, July 15th. Shareholders of record on Monday, July 12th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 9.82%. This is a boost from Global Net Lease's previous quarterly dividend of $0.06. The ex-dividend date of this dividend was Friday, July 9th. Global Net Lease's dividend payout ratio (DPR) is presently 89.39%.
About Global Net Lease
Global Net Lease, Inc engages in the as a real estate investment services. It is 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 U.S., Western, and Northern Europe.
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