Global Net Lease, Inc. (NYSE:GNL) Raises Dividend to $0.28 Per Share

Global Net Lease, Inc. (NYSE:GNL) declared a quarterly dividend on Monday, July 1st, investing.com reports. Investors of record on Thursday, July 11th will be paid a dividend of 0.275 per share by the financial services provider on Tuesday, July 16th. This represents a $1.10 dividend on an annualized basis and a yield of 15.07%. The ex-dividend date of this dividend is Thursday, July 11th. This is a positive change from Global Net Lease’s previous quarterly dividend of $0.06.

Global Net Lease has increased its dividend payment by an average of 58.0% per year 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. 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 Performance

Shares of GNL opened at $7.30 on Tuesday. Global Net Lease has a 52-week low of $6.52 and a 52-week high of $11.58. The company has a 50-day simple moving average of $7.32 and a 200-day simple moving average of $7.90. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.70.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on GNL shares. JMP Securities reiterated a “market perform” rating on shares of Global Net Lease in a research report on Wednesday, June 12th. Truist Financial assumed coverage on Global Net Lease in a research report on Thursday, March 28th. They set a “hold” rating and a $7.00 target price on the stock. BMO Capital Markets reissued an “outperform” rating and issued a $11.00 target price on shares of Global Net Lease in a report on Friday. Finally, BTIG Research downgraded Global Net Lease from a “buy” rating to a “neutral” rating in a research note on Friday, March 8th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $11.00.

Insider Activity at Global Net Lease

In other Global Net Lease news, major shareholder Nicholas S. Schorsch sold 100,000 shares of the firm’s stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $7.02, for a total transaction of $702,000.00. Following the completion of the transaction, the insider now owns 1,829,073 shares of the company’s stock, valued at $12,840,092.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, major shareholder Nicholas S. Schorsch sold 150,000 shares of the business’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $7.19, for a total value of $1,078,500.00. Following the completion of the transaction, the insider now owns 2,079,073 shares of the company’s stock, valued at $14,948,534.87. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder Nicholas S. Schorsch sold 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 26th. The stock was sold at an average price of $7.02, for a total transaction of $702,000.00. Following the sale, the insider now owns 1,829,073 shares in the company, valued at approximately $12,840,092.46. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,043,070 shares of company stock valued at $7,497,437. 0.31% of the stock is owned by corporate 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.