FY2018 EPS Estimates for Global Net Lease Inc Raised by B. Riley (GNL)
Global Net Lease Inc (NYSE:GNL) – Analysts at B. Riley lifted their FY2018 earnings estimates for shares of Global Net Lease in a research report issued to clients and investors on Monday, November 12th. B. Riley analyst B. Maher now anticipates that the financial services provider will post earnings of $2.14 per share for the year, up from their previous estimate of $2.05. B. Riley has a “Neutral” rating and a $25.00 price target on the stock. B. Riley also issued estimates for Global Net Lease’s Q4 2018 earnings at $0.54 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.
Global Net Lease (NYSE:GNL) last issued its earnings results on Wednesday, November 7th. The financial services provider reported $0.54 EPS for the quarter, topping the consensus estimate of $0.51 by $0.03. The company had revenue of $71.92 million during the quarter, compared to analyst estimates of $71.22 million. Global Net Lease had a return on equity of 1.70% and a net margin of 8.51%.
Shares of GNL opened at $21.52 on Thursday. The company has a market capitalization of $1.52 billion, a PE ratio of 10.71 and a beta of 0.50. The company has a quick ratio of 0.12, a current 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.
Institutional investors and hedge funds have recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. acquired a new position in Global Net Lease during the 3rd quarter valued at approximately $17,203,000. BlackRock Inc. boosted its position in Global Net Lease by 7.9% during the 3rd quarter. BlackRock Inc. now owns 11,194,542 shares of the financial services provider’s stock valued at $233,406,000 after purchasing an additional 822,360 shares during the period. Principal Financial Group Inc. acquired a new position in Global Net Lease during the 1st quarter valued at approximately $8,712,000. Renaissance Technologies LLC boosted its position in Global Net Lease by 572.7% during the 3rd quarter. Renaissance Technologies LLC now owns 598,000 shares of the financial services provider’s stock valued at $12,468,000 after purchasing an additional 509,100 shares during the period. Finally, Mackenzie Financial Corp acquired a new position in Global Net Lease during the 3rd quarter valued at approximately $7,667,000. Institutional investors own 56.22% of the company’s stock.
The company also recently announced a monthly dividend, which was paid on Thursday, November 15th. Stockholders of record on Tuesday, November 13th were given a $0.1775 dividend. The ex-dividend date was Friday, November 9th. This represents a $2.13 annualized dividend and a dividend yield of 9.90%. Global Net Lease’s payout ratio is 105.97%.
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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