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

Global Net Lease, Inc. (NYSE:GNL) announced a quarterly dividend on Friday, January 3rd,Wall Street Journal reports. Shareholders 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 dividend on an annualized basis and a dividend yield of 14.63%. The ex-dividend date of this dividend is Monday, January 13th.

Global Net Lease has increased its dividend by an average of 58.0% per year over the last three years. Global Net Lease has a 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. 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 Stock Performance

Shares of NYSE GNL traded up $0.20 during midday trading on Friday, hitting $7.52. The company’s stock had a trading volume of 1,769,175 shares, compared to its average volume of 1,686,988. The firm has a market cap of $1.73 billion, a P/E ratio of -8.00, a P/E/G ratio of 0.93 and a beta of 1.34. Global Net Lease has a 1-year low of $6.52 and a 1-year high of $10.06. The firm’s fifty day moving average price is $7.42 and its 200-day moving average price is $7.96. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.06 and a current ratio of 0.06.

Global Net Lease (NYSE:GNL) last issued its quarterly earnings data on Wednesday, November 6th. The financial services provider reported ($0.33) EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.65). Global Net Lease had a negative return on equity of 7.04% and a negative net margin of 21.37%. The company had revenue of $196.56 million for the quarter, compared to the consensus estimate of $198.76 million. During the same quarter in the previous year, the company earned $0.36 earnings per share. On average, sell-side analysts forecast that Global Net Lease will post 1.27 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Global Net Lease

In other news, major shareholder Nicholas S. Schorsch acquired 100,000 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The shares were purchased at an average price of $7.72 per share, for a total transaction of $772,000.00. Following the completion of the acquisition, the insider now owns 1,829,073 shares of the company’s stock, valued at approximately $14,120,443.56. This represents a 5.78 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.31% of the company’s stock.

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.