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

Global Net Lease, Inc. (NYSE:GNL) announced a quarterly dividend on Thursday, January 2nd,Wall Street Journal reports. Investors of record on Monday, January 13th will be paid a dividend of 0.275 per share by the financial services provider on Thursday, January 16th. This represents a $1.10 annualized dividend and a yield of 14.63%. The ex-dividend date is Monday, January 13th.

Global Net Lease has raised its dividend payment by an average of 58.0% annually over the last three years. Global Net Lease has a dividend payout ratio of -261.9% meaning 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 $1.24 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 88.7%.

Global Net Lease Price Performance

Shares of Global Net Lease stock traded up $0.20 during trading on Friday, reaching $7.52. 2,075,720 shares of the stock traded hands, compared to its average volume of 1,840,260. The company has a market capitalization of $1.73 billion, a price-to-earnings ratio of -8.00, a P/E/G ratio of 0.95 and a beta of 1.34. The business has a fifty day simple moving average of $7.42 and a two-hundred day simple moving average of $7.96. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.06 and a quick ratio of 0.06. Global Net Lease has a 52-week low of $6.52 and a 52-week high of $10.06.

Global Net Lease (NYSE:GNL) last posted its earnings results on Wednesday, November 6th. The financial services provider reported ($0.33) earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.65). The business had revenue of $196.56 million during the quarter, compared to analysts’ expectations of $198.76 million. Global Net Lease had a negative net margin of 21.37% and a negative return on equity of 7.04%. During the same period last year, the business posted $0.36 earnings per share. Sell-side analysts expect that Global Net Lease will post 1.27 EPS for the current year.

Insiders Place Their Bets

In related news, major shareholder Nicholas S. Schorsch purchased 100,000 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was purchased at an average price of $7.72 per share, with a total value of $772,000.00. Following the completion of the purchase, the insider now owns 1,829,073 shares of the company’s stock, valued at approximately $14,120,443.56. The trade was a 5.78 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.31% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on GNL shares. Truist Financial decreased their price objective on Global Net Lease from $8.50 to $8.00 and set a “hold” rating on the stock in a research report on Friday, November 29th. JMP Securities upgraded Global Net Lease from a “market perform” rating to an “outperform” rating and set a $9.00 price target for the company in a research report on Tuesday, December 17th. Finally, Citizens Jmp upgraded shares of Global Net Lease from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 17th. Three research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Global Net Lease presently has an average rating of “Moderate Buy” and an average target price of $9.50.

Global Net Lease Company Profile

Global Net Lease, Inc (NYSE: GNL) is a publicly traded real estate investment trust listed on the NYSE. The firm 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.