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

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 given 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 yield of 14.63%. The ex-dividend date is Monday, January 13th.

Global Net Lease has raised its dividend by an average of 58.0% annually over the last three years. Global Net Lease has a dividend 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 Up 2.7 %

Shares of GNL traded up $0.20 during trading hours on Friday, hitting $7.52. The company had a trading volume of 2,075,720 shares, compared to its average volume of 1,840,260. 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 capitalization of $1.73 billion, a PE ratio of -8.00, a price-to-earnings-growth ratio of 0.95 and a beta of 1.34. Global Net Lease has a one year low of $6.52 and a one year high of $10.06. The company’s fifty day moving average price is $7.42 and its two-hundred day moving average price is $7.96.

Global Net Lease (NYSE:GNL) last announced its earnings results 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). The firm had revenue of $196.56 million during the quarter, compared to the consensus estimate of $198.76 million. Global Net Lease had a negative return on equity of 7.04% and a negative net margin of 21.37%. During the same quarter in the prior year, the firm posted $0.36 earnings per share. As a group, equities analysts forecast that Global Net Lease will post 1.27 earnings per share for the current fiscal year.

Insider Activity

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

Analyst Upgrades and Downgrades

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