Global Net Lease, Inc. (GNL) To Go Ex-Dividend on July 11th

Global Net Lease, Inc. (NYSE:GNL) 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 dividend on an annualized basis and a dividend yield of 14.77%. The ex-dividend date of this dividend is Thursday, July 11th. This is a boost from Global Net Lease’s previous quarterly dividend of $0.06.

Global Net Lease has increased its dividend by an average of 58.0% per year over the last three years. Global Net Lease has a 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 Trading Up 2.1 %

GNL stock opened at $7.45 on Wednesday. The firm’s 50-day moving average price is $7.33 and its two-hundred day moving average price is $7.88. Global Net Lease has a 12-month low of $6.52 and a 12-month high of $11.58. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.05 and a current ratio of 0.05.

Insider Buying and Selling

In related news, major shareholder Nicholas S. Schorsch sold 433,350 shares of the business’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $7.19, for a total transaction of $3,115,786.50. Following the sale, the insider now owns 2,679,073 shares of the company’s stock, valued at $19,262,534.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Global Net Lease news, major shareholder Nicholas S. Schorsch sold 100,000 shares of Global Net Lease stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $7.02, for a total value of $702,000.00. Following the completion of the transaction, the insider now directly owns 1,829,073 shares of the company’s stock, valued at $12,840,092.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Nicholas S. Schorsch sold 433,350 shares of Global Net Lease stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $7.19, for a total transaction of $3,115,786.50. Following the completion of the transaction, the insider now directly owns 2,679,073 shares of the company’s stock, valued at $19,262,534.87. The disclosure for this sale can be found here. Insiders have sold 1,043,070 shares of company stock valued at $7,497,437 over the last quarter. Corporate insiders own 0.31% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. BTIG Research cut shares of Global Net Lease from a “buy” rating to a “neutral” rating in a research report on Friday, March 8th. Truist Financial initiated coverage on shares of Global Net Lease in a research note on Thursday, March 28th. They set a “hold” rating and a $7.00 target price on the stock. JMP Securities reaffirmed 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 set a $11.00 target price on shares of Global Net Lease in a research note on Friday, June 28th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat, Global Net Lease currently has a consensus rating of “Hold” and a consensus target price of $11.00.

Global Net Lease Company Profile

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.