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

Global Net Lease, Inc. (NYSE:GNLGet Free Report) announced a dividend on Tuesday, April 2nd, investing.com reports. Stockholders of record on Thursday, April 11th will be paid a dividend of 0.275 per share by the financial services provider on Tuesday, April 16th. This represents a dividend yield of 14.16%. The ex-dividend date of this dividend is Wednesday, April 10th. This is an increase from Global Net Lease’s previous dividend of $0.06.

Global Net Lease has decreased its dividend by an average of 3.6% annually over the last three years. Global Net Lease has a payout ratio of 189.3% 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 $1.36 per share next year, which means the company may not be able to cover its $1.42 annual dividend with an expected future payout ratio of 104.4%.

Global Net Lease Trading Down 1.1 %

Global Net Lease stock opened at $7.69 on Tuesday. The firm has a market cap of $1.77 billion, a PE ratio of -4.44, a P/E/G ratio of 1.00 and a beta of 1.34. Global Net Lease has a 12 month low of $6.83 and a 12 month high of $13.10. The stock’s 50 day simple moving average is $7.84 and its two-hundred day simple moving average is $8.62. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.66.

Analysts Set New Price Targets

GNL has been the topic of a number of recent analyst reports. BTIG Research downgraded shares of Global Net Lease from a “buy” rating to a “neutral” rating in a report on Friday, March 8th. BMO Capital Markets assumed coverage on shares of Global Net Lease in a research note on Tuesday, February 13th. They set an “outperform” rating and a $11.00 target price on the stock. Finally, Truist Financial initiated coverage on Global Net Lease in a research note on Thursday, March 28th. They issued a “hold” rating and a $7.00 price target for the company. One investment analyst has rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, Global Net Lease presently has a consensus rating of “Hold” and a consensus price target of $12.00.

View Our Latest Report on Global Net Lease

Insider Buying and Selling

In related news, major shareholder Nicholas S. Schorsch sold 150,000 shares of the firm’s stock in a transaction dated Friday, January 19th. The shares were sold at an average price of $8.90, for a total value of $1,335,000.00. Following the transaction, the insider now directly owns 4,255,042 shares of the company’s stock, valued at approximately $37,869,873.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Global Net Lease news, major shareholder Nicholas S. Schorsch sold 4,837 shares of Global Net Lease stock in a transaction on Friday, January 26th. The shares were sold at an average price of $8.90, for a total transaction of $43,049.30. Following the sale, the insider now owns 3,861,472 shares of the company’s stock, valued at approximately $34,367,100.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Nicholas S. Schorsch sold 150,000 shares of the stock in a transaction dated Friday, January 19th. The shares were sold at an average price of $8.90, for a total transaction of $1,335,000.00. Following the completion of the sale, the insider now owns 4,255,042 shares of the company’s stock, valued at $37,869,873.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 571,978 shares of company stock valued at $5,362,151. 0.22% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Global Net Lease

Institutional investors and hedge funds have recently bought and sold shares of the business. HighTower Advisors LLC acquired a new position in shares of Global Net Lease during the 4th quarter worth approximately $147,000. Coppell Advisory Solutions Corp. acquired a new position in Global Net Lease during the fourth quarter worth $143,000. Townsquare Capital LLC purchased a new stake in Global Net Lease in the 3rd quarter valued at $137,000. Profund Advisors LLC grew its holdings in Global Net Lease by 21.6% in the 4th quarter. Profund Advisors LLC now owns 13,377 shares of the financial services provider’s stock valued at $133,000 after buying an additional 2,378 shares in the last quarter. Finally, Stifel Financial Corp acquired a new stake in shares of Global Net Lease in the 3rd quarter worth $131,000. 61.19% of the stock is currently owned by institutional investors and hedge funds.

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.

Further Reading

Dividend History for Global Net Lease (NYSE:GNL)

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