Global Net Lease, Inc. (NYSE:GNL) Announces Dividend Increase – $0.28 Per Share

Global Net Lease, Inc. (NYSE:GNL) declared a dividend on Tuesday, July 2nd, investing.com reports. Shareholders of record on Friday, July 12th will be given a dividend of 0.275 per share by the financial services provider on Tuesday, July 16th. This represents a dividend yield of 14.97%. The ex-dividend date is Thursday, July 11th. This is an increase from Global Net Lease’s previous dividend of $0.06.

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

GNL stock opened at $7.30 on Tuesday. The firm’s fifty day moving average is $7.32 and its 200 day moving average is $7.90. Global Net Lease has a 52 week low of $6.52 and a 52 week high of $11.58. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.70.

Insider Buying and Selling

In other Global Net Lease news, major shareholder Nicholas S. Schorsch sold 200,000 shares of the company’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $7.16, for a total value of $1,432,000.00. Following the completion of the transaction, the insider now directly owns 3,201,694 shares in the company, valued at approximately $22,924,129.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, major shareholder Nicholas S. Schorsch sold 200,000 shares of Global Net Lease stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $7.16, for a total transaction of $1,432,000.00. Following the sale, the insider now directly owns 3,201,694 shares in the company, valued at $22,924,129.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Nicholas S. Schorsch sold 159,720 shares of the company’s stock in a transaction 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 sale, the insider now directly owns 3,546,752 shares in the company, valued at $25,962,224.64. The disclosure for this sale can be found here. Insiders sold 1,043,070 shares of company stock valued at $7,497,437 over the last quarter. 0.31% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms have recently commented on GNL. Truist Financial began coverage on Global Net Lease in a report on Thursday, March 28th. They issued a “hold” rating and a $7.00 price objective on the stock. JMP Securities reaffirmed a “market perform” rating on shares of Global Net Lease in a research note on Wednesday, June 12th. BMO Capital Markets reissued an “outperform” rating and set a $11.00 price objective on shares of Global Net Lease in a research note on Friday. Finally, BTIG Research downgraded shares of Global Net Lease from a “buy” rating to a “neutral” rating in a research note on Friday, March 8th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $11.00.

About Global Net Lease

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.