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

by · The Markets Daily

Global Net Lease, Inc. (NYSE:GNL – Get Free Report) declared a quarterly dividend on Tuesday, October 1st, Zacks reports. Shareholders of record on Friday, October 11th will be paid a dividend of 0.275 per share by the financial services provider on Wednesday, October 16th. This represents a $1.10 dividend on an annualized basis and a yield of 12.84%. The ex-dividend date of this dividend is Friday, October 11th.

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 dividend payout ratio of 103.8% meaning 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 $1.29 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 85.3%.

Global Net Lease Stock Up 1.3 %

Shares of Global Net Lease stock opened at $8.57 on Thursday. Global Net Lease has a twelve month low of $6.52 and a twelve month high of $10.19. The stock has a market capitalization of $1.97 billion, a price-to-earnings ratio of -4.71, a PEG ratio of 1.15 and a beta of 1.37. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.72. The business’s 50 day simple moving average is $8.50 and its 200-day simple moving average is $7.84.

Global Net Lease (NYSE:GNL – Get Free Report) last released its quarterly earnings data on Tuesday, August 6th. The financial services provider reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.52). Global Net Lease had a negative return on equity of 9.41% and a negative net margin of 33.26%. The firm had revenue of $203.29 million during the quarter, compared to analyst estimates of $204.80 million. During the same period last year, the business earned $0.40 EPS. Equities research analysts forecast that Global Net Lease will post 1.27 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on GNL shares. B. Riley decreased their price target on Global Net Lease from $11.00 to $10.00 and set a “buy” rating for the company in a research note on Monday, August 12th. Truist Financial raised their target price on shares of Global Net Lease from $8.00 to $8.50 and gave the company a “hold” rating in a research note on Wednesday, August 21st. StockNews.com raised shares of Global Net Lease from a “sell” rating to a “hold” rating in a research note on Thursday, August 8th. BMO Capital Markets reissued an “outperform” rating and set a $11.00 target price on shares of Global Net Lease in a report on Friday, June 28th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Global Net Lease in a research note on Wednesday, June 12th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $9.83.

Read Our Latest Analysis on Global Net Lease

Insider Buying and Selling

In related news, major shareholder Nicholas S. Schorsch bought 100,000 shares of Global Net Lease stock in a transaction dated Wednesday, October 2nd. The stock was acquired at an average cost of $8.40 per share, with a total value of $840,000.00. Following the completion of the acquisition, the insider now directly owns 1,729,073 shares in the company, valued at approximately $14,524,213.20. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.31% of the stock is currently owned by insiders.

Global Net Lease Company Profile

(Get Free Report)

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.

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