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

Global Net Lease, Inc. (NYSE:GNL) declared a quarterly dividend on Thursday, January 2nd,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 15.41%. The ex-dividend date is Monday, January 13th.

Global Net Lease has increased its dividend payment by an average of 26.5% annually over the last three years. Global Net Lease has a dividend payout ratio of -297.3% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. 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 Stock Down 3.4 %

NYSE GNL opened at $7.14 on Friday. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 0.70. The company has a market cap of $1.65 billion, a price-to-earnings ratio of -7.60, a PEG ratio of 0.95 and a beta of 1.34. The company has a 50 day moving average of $7.37 and a 200-day moving average of $7.97. Global Net Lease has a 1-year low of $6.52 and a 1-year high of $9.60.

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

Insider Activity at Global Net Lease

In other news, major shareholder Nicholas S. Schorsch bought 100,000 shares of the stock in a transaction on Monday, November 11th. The stock was acquired at an average price of $7.72 per share, with a total value of $772,000.00. Following the acquisition, the insider now directly owns 1,829,073 shares in the company, valued at approximately $14,120,443.56. This trade represents a 5.78 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.31% of the stock is owned by insiders.

Analyst Ratings Changes

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

About Global Net Lease

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.