Global Net Lease, Inc. (GNL) to Distribute Quarterly Dividend of $0.28 on January 16th

Global Net Lease, Inc. (NYSE:GNL) announced 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 annualized dividend and a yield of 15.41%. The ex-dividend date is Monday, January 13th.

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

Global Net Lease (NYSE:GNL) last posted its quarterly 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). 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 the consensus estimate of $198.76 million. During the same quarter in the prior year, the business earned $0.36 earnings per share. As a group, sell-side analysts predict that Global Net Lease will post 1.27 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports 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 on the stock in a research report on Tuesday, December 17th. Truist Financial dropped their target price 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. Finally, Citizens Jmp upgraded Global Net Lease from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 17th. Three investment 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 presently has a consensus rating of “Moderate Buy” and an average target price of $9.50.

Insider Buying and Selling

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

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.