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

Global Net Lease, Inc. (NYSE:GNL) announced a quarterly dividend on Tuesday, October 1st, Zacks reports. Stockholders of record on Friday, October 11th will be given 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 dividend yield of 13.16%. The ex-dividend date is Friday, October 11th.

Global Net Lease has increased its dividend 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 Performance

Shares of GNL stock traded down $0.03 during mid-day trading on Wednesday, hitting $8.36. The stock had a trading volume of 46,980 shares, compared to its average volume of 1,499,798. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.05 and a quick ratio of 0.05. The firm has a market cap of $1.93 billion, a PE ratio of -4.57, a PEG ratio of 1.15 and a beta of 1.38. Global Net Lease has a fifty-two week low of $6.52 and a fifty-two week high of $10.19. The company’s 50-day simple moving average is $8.55 and its 200-day simple moving average is $7.80.

Global Net Lease (NYSE:GNL) last announced its quarterly earnings results on Tuesday, August 6th. The financial services provider reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.52). The company had revenue of $203.29 million during the quarter, compared to analysts’ expectations of $204.80 million. Global Net Lease had a negative net margin of 33.26% and a negative return on equity of 9.41%. During the same quarter in the prior year, the business earned $0.40 EPS. Sell-side analysts anticipate that Global Net Lease will post 1.27 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Truist Financial lifted their target price on shares of Global Net Lease from $8.00 to $8.50 and gave the stock a “hold” rating in a research report on Wednesday, August 21st. B. Riley lowered their target price on shares of 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. BMO Capital Markets reissued an “outperform” rating and set a $11.00 price target on shares of Global Net Lease in a research note on Friday, June 28th. StockNews.com upgraded Global Net Lease from a “sell” rating to a “hold” rating in a research note on Thursday, August 8th. Finally, JMP Securities reissued a “market perform” rating on shares of Global Net Lease in a research note on Wednesday, June 12th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $9.83.

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.