Global Net Lease, Inc. (NYSE:GNL) to Issue Quarterly Dividend of $0.28

Global Net Lease, Inc. (NYSE:GNL) announced a quarterly dividend on Monday, July 1st, investing.com reports. Shareholders of record on Thursday, July 11th will be paid a dividend of 0.275 per share by the financial services provider on Tuesday, July 16th. This represents a $1.10 annualized dividend and a yield of 14.71%. The ex-dividend date is Thursday, July 11th. This is a boost from Global Net Lease’s previous quarterly dividend of $0.06.

Global Net Lease has increased its dividend payment by an average of 58.0% per year over the last three years. Global Net Lease has a payout ratio of 101.9% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Global Net Lease to earn $1.39 per share next year, which means the company should continue to be able to cover its $1.10 annual dividend with an expected future payout ratio of 79.1%.

Global Net Lease Trading Down 1.1 %

Shares of NYSE:GNL opened at $7.48 on Wednesday. The stock has a 50-day simple moving average of $7.38 and a 200-day simple moving average of $7.81. Global Net Lease has a 1 year low of $6.52 and a 1 year high of $11.58. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.70.

Insider Activity

In related news, major shareholder Nicholas S. Schorsch sold 433,350 shares of the firm’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $7.19, for a total transaction of $3,115,786.50. Following the completion of the sale, the insider now directly owns 2,679,073 shares of the company’s stock, valued at approximately $19,262,534.87. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, major shareholder Nicholas S. Schorsch sold 433,350 shares of the business’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $7.19, for a total value of $3,115,786.50. Following the transaction, the insider now owns 2,679,073 shares in the company, valued at $19,262,534.87. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Nicholas S. Schorsch sold 200,000 shares of the stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $7.16, for a total value of $1,432,000.00. Following the completion of the transaction, the insider now directly owns 3,201,694 shares of the company’s stock, valued at approximately $22,924,129.04. The disclosure for this sale can be found here. Insiders have sold 1,043,070 shares of company stock worth $7,497,437 over the last 90 days. Company insiders own 0.31% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. BMO Capital Markets reiterated an “outperform” rating and set a $11.00 price objective on shares of Global Net Lease in a research note on Friday, June 28th. Truist Financial began coverage on shares of Global Net Lease in a research report on Thursday, March 28th. They set a “hold” rating and a $7.00 price target for the company. Finally, JMP Securities reissued a “market perform” rating on shares of Global Net Lease in a research report on Wednesday, June 12th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, Global Net Lease has an average rating of “Hold” and a consensus price target of $11.00.

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.