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

Global Net Lease, Inc. (NYSE:GNL) announced a quarterly dividend on Monday, July 1st, investing.com reports. Shareholders of record on Thursday, July 11th will be given a dividend of 0.275 per share by the financial services provider on Tuesday, July 16th. This represents a $1.10 annualized dividend and a yield of 14.57%. The ex-dividend date is Thursday, July 11th. This is a boost from Global Net Lease’s previous quarterly dividend of $0.06.

Global Net Lease has raised its dividend by an average of 58.0% annually over the last three years. Global Net Lease has a payout ratio of 101.9% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Global Net Lease to earn $1.39 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 79.1%.

Global Net Lease Stock Down 0.1 %

GNL opened at $7.55 on Tuesday. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.05 and a quick ratio of 0.05. The stock has a market capitalization of $1.74 billion, a price-to-earnings ratio of -4.15, a price-to-earnings-growth ratio of 0.97 and a beta of 1.38. The business has a 50-day moving average of $7.37 and a two-hundred day moving average of $7.83. Global Net Lease has a 12 month low of $6.52 and a 12 month high of $11.58.

Analyst Upgrades and Downgrades

GNL has been the subject of several recent analyst reports. JMP Securities restated a “market perform” rating on shares of Global Net Lease in a report on Wednesday, June 12th. BMO Capital Markets reiterated an “outperform” rating and set a $11.00 target price on shares of Global Net Lease in a report on Friday, June 28th. Finally, Truist Financial began coverage on Global Net Lease in a report on Thursday, March 28th. They set a “hold” rating and a $7.00 target price for the company. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $11.00.

Insider Transactions at Global Net Lease

In other Global Net Lease news, major shareholder Nicholas S. Schorsch sold 159,720 shares of the company’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $7.32, for a total value of $1,169,150.40. Following the completion of the transaction, the insider now owns 3,546,752 shares in the company, valued at approximately $25,962,224.64. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Global Net Lease news, major shareholder Nicholas S. Schorsch sold 433,350 shares of the company’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $7.19, for a total value of $3,115,786.50. Following the completion of the transaction, the insider now owns 2,679,073 shares in the company, valued at approximately $19,262,534.87. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Nicholas S. Schorsch sold 159,720 shares of the company’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $7.32, for a total value of $1,169,150.40. Following the completion of the transaction, the insider now owns 3,546,752 shares of the company’s stock, valued at approximately $25,962,224.64. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,043,070 shares of company stock worth $7,497,437. 0.31% of the stock is currently owned by company insiders.

Global Net Lease Company Profile

Global Net Lease, Inc (NYSE: GNL) is a publicly traded real estate investment trust listed on the NYSE 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.