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

Global Net Lease, Inc. (NYSE:GNL - Get Free Report) declared a quarterly dividend on Thursday, January 2nd,Wall Street Journal reports. Stockholders 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 annualized dividend and a dividend yield of 14.63%. The ex-dividend date of this dividend is Monday, January 13th.

Global Net Lease has raised its dividend payment by an average of 58.0% per year over the last three years. Global Net Lease has a 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 Performance

Global Net Lease stock traded up $0.20 during mid-day trading on Friday, reaching $7.52. 2,075,720 shares of the stock traded hands, compared to its average volume of 1,840,260. The business's 50-day moving average is $7.41 and its 200-day moving average is $7.96. Global Net Lease has a 12-month low of $6.52 and a 12-month high of $10.06. 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 stock 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 (NYSE:GNL - Get Free Report) last released its earnings results on Wednesday, November 6th. The financial services provider reported ($0.33) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.65). Global Net Lease had a negative return on equity of 7.04% and a negative net margin of 21.37%. The firm had revenue of $196.56 million during the quarter, compared to analysts' expectations of $198.76 million. During the same period in the prior year, the company posted $0.36 earnings per share. As a group, sell-side analysts predict that Global Net Lease will post 1.27 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

GNL has been the topic of several recent research reports. JMP Securities raised Global Net Lease from a "market perform" rating to an "outperform" rating and set a $9.00 price objective on the stock in a report on Tuesday, December 17th. Citizens Jmp raised shares of Global Net Lease from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, December 17th. Finally, Truist Financial dropped their price objective on shares of Global Net Lease from $8.50 to $8.00 and set a "hold" rating for the company in a research note on Friday, November 29th. Three equities research 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 company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $9.50.

Insider Buying and Selling at Global Net Lease

In related news, major shareholder Nicholas S. Schorsch purchased 100,000 shares of Global Net Lease stock in a transaction dated Monday, November 11th. The stock was purchased at an average cost of $7.72 per share, with a total value of $772,000.00. Following the transaction, the insider now owns 1,829,073 shares in the company, valued at approximately $14,120,443.56. The trade was a 5.78 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.31% of the company's stock.

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.