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

Global Net Lease, Inc. (NYSE:GNLGet Free Report) declared 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 14.71%. The ex-dividend date is Thursday, July 11th. This is an increase 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 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. Equities 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 Price Performance

GNL stock opened at $7.48 on Wednesday. Global Net Lease has a 52 week low of $6.52 and a 52 week high of $11.58. The company’s 50-day simple moving average is $7.38 and its 200 day simple moving average is $7.81. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.05 and a current ratio of 0.05.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Truist Financial assumed coverage on shares of 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. JMP Securities restated a “market perform” rating on shares of Global Net Lease in a research note on Wednesday, June 12th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $11.00 price objective on shares of Global Net Lease in a report on Friday, June 28th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $11.00.

Check Out Our Latest Research Report on GNL

Insider Activity

In related news, major shareholder Nicholas S. Schorsch sold 100,000 shares of the stock in a transaction that occurred on Wednesday, June 26th. The shares were 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Global Net Lease news, major shareholder Nicholas S. Schorsch sold 159,720 shares of the business’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $7.32, for a total transaction 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 $25,962,224.64. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 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 shares were sold at an average price of $7.02, for a total transaction of $702,000.00. Following the completion of the sale, the insider now owns 1,829,073 shares in the company, valued at $12,840,092.46. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,043,070 shares of company stock worth $7,497,437. 0.31% of the stock is currently owned by corporate insiders.

About Global Net Lease

(Get Free Report)

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.

See Also

Dividend History for Global Net Lease (NYSE:GNL)

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