FBR & Co Begins Coverage on Global Net Lease Inc. (GNL)
Investment analysts at FBR & Co began coverage on shares of Global Net Lease Inc. (NYSE:GNL) in a report released on Wednesday. The firm set a “market perform” rating and a $8.15 price target on the stock. FBR & Co’s price objective suggests a potential upside of 7.80% from the stock’s current price.
Shares of Global Net Lease (NYSE:GNL) opened at 7.56 on Wednesday. The firm has a 50-day moving average price of $8.13 and a 200-day moving average price of $8.36. The firm has a market cap of $1.28 billion, a price-to-earnings ratio of 32.59 and a beta of 0.53. Global Net Lease has a 12-month low of $5.77 and a 12-month high of $9.29.
Global Net Lease (NYSE:GNL) last announced its quarterly earnings results on Monday, August 8th. The company reported $0.09 EPS for the quarter. Global Net Lease had a return on equity of 3.36% and a net margin of 18.87%. The company earned $53.20 million during the quarter, compared to analysts’ expectations of $49.10 million.
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The company also recently declared a monthly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Thursday, December 8th will be paid a $0.0592 dividend. This represents a $0.71 dividend on an annualized basis and a dividend yield of 9.39%. The ex-dividend date of this dividend is Tuesday, December 6th. Global Net Lease’s payout ratio is 308.71%.
Global Net Lease Company Profile
Global Net Lease, Inc is a real estate investment trust that focuses on acquiring and managing a portfolio of strategically located commercial real estate properties. The Company’s business consists of owning, managing, operating, leasing, acquiring, investing in and disposing of real estate assets. The Company focuses its investments on commercial and retail properties, including special use single tenant properties.
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