Global Net Lease, Inc. (NYSE:GNL) Announces Dividend Increase – $0.28 Per Share

Global Net Lease, Inc. (NYSE:GNL) announced a quarterly dividend on Monday, July 1st, investing.com reports. Investors of record on Thursday, July 11th will be given 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 14.57%. The ex-dividend date of this dividend is Thursday, July 11th. This is a boost from Global Net Lease’s previous quarterly dividend of $0.06.

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 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 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 Stock Performance

GNL opened at $7.55 on Tuesday. Global Net Lease has a 52-week low of $6.52 and a 52-week high of $11.58. The firm has a market capitalization of $1.74 billion, a PE ratio of -4.15, a PEG ratio of 0.97 and a beta of 1.38. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.05 and a current ratio of 0.05. The business’s 50-day simple moving average is $7.37 and its 200 day simple moving average is $7.83.

Analyst Upgrades and Downgrades

GNL has been the topic of several research analyst reports. Truist Financial initiated coverage on Global Net Lease in a research note on Thursday, March 28th. They issued a “hold” rating and a $7.00 price objective on the stock. BMO Capital Markets restated an “outperform” rating and issued a $11.00 price objective on shares of Global Net Lease in a research note on Friday, June 28th. Finally, JMP Securities restated a “market perform” rating on shares of Global Net Lease in a research note on Wednesday, June 12th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $11.00.

Insider Transactions at Global Net Lease

In other news, major shareholder Nicholas S. Schorsch sold 100,000 shares of the stock in a transaction that occurred on Wednesday, June 26th. The stock was sold at an average price of $7.02, for a total transaction of $702,000.00. Following the transaction, the insider now owns 1,829,073 shares in the company, valued at $12,840,092.46. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Global Net Lease news, major shareholder Nicholas S. Schorsch sold 100,000 shares of the firm’s stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $7.02, for a total transaction of $702,000.00. Following the transaction, the insider now owns 1,829,073 shares in the company, valued at approximately $12,840,092.46. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, major shareholder Nicholas S. Schorsch sold 433,350 shares of the firm’s stock in a transaction on 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 approximately $19,262,534.87. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,043,070 shares of company stock worth $7,497,437. Company insiders own 0.31% of the company’s stock.

About Global Net Lease

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.