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

Global Net Lease, Inc. (NYSE:GNLGet Free Report) announced a dividend on Tuesday, April 2nd, investing.com reports. Investors 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 is Wednesday, April 10th. This is a boost 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 dividend 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. 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 Stock Down 1.1 %

Shares of Global Net Lease stock opened at $7.69 on Tuesday. The stock’s 50-day moving average is $7.84 and its 200 day moving average is $8.62. Global Net Lease has a one year low of $6.83 and a one year high of $13.10. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.05 and a quick ratio of 0.05. The firm has a market cap of $1.77 billion, a price-to-earnings ratio of -4.44, a PEG ratio of 1.00 and a beta of 1.34.

Insider Buying and Selling at Global Net Lease

In other Global Net Lease news, major shareholder Nicholas S. Schorsch sold 150,000 shares of the firm’s stock in a transaction dated Friday, January 19th. The stock was sold at an average price of $8.90, for a total transaction of $1,335,000.00. Following the sale, the insider now owns 4,255,042 shares in the company, valued at $37,869,873.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Global Net Lease news, major shareholder Nicholas S. Schorsch sold 176,577 shares of Global Net Lease stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $9.04, for a total transaction of $1,596,256.08. Following the sale, the insider now directly owns 4,078,465 shares of the company’s stock, valued at approximately $36,869,323.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Nicholas S. Schorsch sold 150,000 shares of the business’s stock in a transaction that occurred on Friday, January 19th. The stock was sold at an average price of $8.90, for a total value of $1,335,000.00. Following the completion of the sale, the insider now directly owns 4,255,042 shares in the company, valued at $37,869,873.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 571,978 shares of company stock valued at $5,362,151. Company insiders own 0.22% of the company’s stock.

Hedge Funds Weigh In On Global Net Lease

A number of hedge funds have recently added to or reduced their stakes in the company. Teachers Retirement System of The State of Kentucky raised its holdings in Global Net Lease by 87.7% in the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 63,145 shares of the financial services provider’s stock worth $629,000 after acquiring an additional 29,500 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Global Net Lease by 31.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 109,232 shares of the financial services provider’s stock valued at $1,087,000 after buying an additional 26,428 shares during the period. Public Employees Retirement System of Ohio increased its position in Global Net Lease by 0.9% during the fourth quarter. Public Employees Retirement System of Ohio now owns 285,583 shares of the financial services provider’s stock valued at $2,842,000 after acquiring an additional 2,662 shares during the last quarter. Legal & General Group Plc boosted its position in Global Net Lease by 5.6% in the fourth quarter. Legal & General Group Plc now owns 1,803,243 shares of the financial services provider’s stock worth $17,942,000 after purchasing an additional 94,998 shares during the last quarter. Finally, Barclays PLC boosted its holdings in shares of Global Net Lease by 217.5% in the fourth quarter. Barclays PLC now owns 313,271 shares of the financial services provider’s stock worth $3,117,000 after buying an additional 214,596 shares during the last quarter. 61.19% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Check Out Our Latest Report on Global Net Lease

Global Net Lease Company Profile

(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.

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Dividend History for Global Net Lease (NYSE:GNL)

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