Global Net Lease, Inc. (GNL) moved with change of 0.47% pushing the price on the $19.34 per share in recent trading session ended on Monday. The latest trading activity showed that the stock price is 24.37% off from its 52-week low and traded with move of -15.88% from high printed in the last 52-week period. The Company kept 67M Floating Shares and holds 67.29M shares outstanding. The stock recent traded volume stands with 617937 shares as compared with its average volume of 834.46K shares. The relative volume observed at 0.74.
Global Net Lease, Inc. (NYSE: GNL), a real estate investment trust focused on acquiring and managing a diversified portfolio of single tenant net lease commercial properties in the U.S. and Europe, announced today its financial and operating results for the first quarter ended March 31, 2018.
First Quarter 2018 Highlights
Revenue increased 8.4% year over year to $68.1 million
Net income attributable to common stockholders was $2.4 million 1.
Adjusted Funds from Operations (“AFFO”) was $35.1 million as compared to $34.5 million in prior year first quarter, weighted average shares outstanding for the respective periods were 67,287,231 and 66,271,008.
Portfolio 99.5% leased with 8.6 years weighted average lease term remaining at quarter end and 78.3% of tenants rated as investment grade or implied investment grade.2
Closed on six industrial and distribution assets totaling 759,940 square feet for $63.4 million.
Debt maturity extended to 3.6 years as compared to 1.6 years at end of the first quarter of 2017 coupled with a meaningful shift to a higher percentage of fixed rate debt from 76 % to 83%
James Nelson, Chief Executive Officer of GNL said, “GNL’s positive first quarter results reflect the successful addition of net lease assets to the portfolio. Our year over year first quarter revenue increased 8.4% and because a number of these acquisitions occurred at the end of the quarter we expect an even greater impact to cash flow and earnings starting in the second quarter. The notable activity in our advisor’s expanded European operations serve as further evidence of GNL’s ongoing commitment to the effective execution of our strategy. During the quarter we closed on $63 million of the $293 million of industrial and distribution assets we announced in February 2018. We expect to close the majority of those acquisitions by the fall of 2018. We will remain proactive, yet disciplined, as we pursue additional acquisitions to drive shareholder value.”
As took short look on profitability, the firm profit margin which was recorded 7.70%, and operating margin was noted at 33.20%. The company maintained a Gross Margin of 79.40%. The Institutional ownership of the firm is 50.30% while Insiders ownership is 0.43%. Company has kept return on investment (ROI) at 2.80% over the previous 12 months and has been able to maintain return on asset (ROA) at 0.70% for the last twelve months. Return on equity (ROE) recorded at 1.50%. Shares price moved with -0.26% from its 50 Day high and distanced at 24.37% from 50 Day low. Analyses consensus rating score stands at 3. For the next one year period, the average of individual price target estimates referred by covering sell-side analysts is $22.
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