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

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

Global Net Lease has increased its dividend payment by an average of 58.0% annually over the last three years. Global Net Lease has a payout ratio of -261.9% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. 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 trading hours on Friday, hitting $7.52. 1,769,175 shares of the company’s stock were exchanged, compared to its average volume of 1,686,988. The company’s 50-day moving average price is $7.42 and its 200-day moving average price is $7.96. Global Net Lease has a 1-year low of $6.52 and a 1-year high of $10.06. The stock has a market capitalization of $1.73 billion, a price-to-earnings ratio of -8.00, a PEG ratio of 0.93 and a beta of 1.34. 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 (NYSE:GNL) last posted 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). The business had revenue of $196.56 million during the quarter, compared to the consensus estimate 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 in the prior year, the company posted $0.36 earnings per share. On average, sell-side analysts expect that Global Net Lease will post 1.27 earnings per share for the current fiscal year.

Insider Transactions at Global Net Lease

In related news, major shareholder Nicholas S. Schorsch purchased 100,000 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were acquired at an average price of $7.72 per share, with a total value of $772,000.00. Following the purchase, the insider now directly owns 1,829,073 shares in the company, valued at $14,120,443.56. This represents a 5.78 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.31% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on GNL shares. Truist Financial dropped their price objective on shares of Global Net Lease from $8.50 to $8.00 and set a “hold” rating on the stock in a 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 on the stock in a research note on Tuesday, December 17th. Finally, Citizens Jmp raised Global Net Lease from a “hold” rating to a “strong-buy” rating in a 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 given a strong buy rating to the company. Based on data from MarketBeat.com, Global Net Lease has an average rating of “Moderate Buy” and a consensus 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.