Global Net Lease, Inc. (GNL) to Issue Quarterly Dividend of $0.28 on October 16th

Global Net Lease, Inc. (NYSE:GNL) announced a quarterly dividend on Tuesday, October 1st, Zacks reports. Investors of record on Friday, October 11th will be given a dividend of 0.275 per share by the financial services provider on Wednesday, October 16th. This represents a $1.10 annualized dividend and a yield of 13.10%. The ex-dividend date is Friday, October 11th.

Global Net Lease has increased its dividend payment by an average of 58.0% annually over the last three years. Global Net Lease has a dividend payout ratio of 103.8% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Global Net Lease to earn $1.29 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 85.3%.

Global Net Lease Price Performance

Shares of GNL stock opened at $8.40 on Thursday. The firm has a fifty day moving average of $8.54 and a two-hundred day moving average of $7.81. The firm has a market cap of $1.94 billion, a P/E ratio of -4.62, a P/E/G ratio of 1.15 and a beta of 1.38. Global Net Lease has a 1-year low of $6.52 and a 1-year high of $10.19. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.05 and a quick ratio of 0.05.

Global Net Lease (NYSE:GNL) last posted its quarterly earnings results on Tuesday, August 6th. The financial services provider reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.52). Global Net Lease had a negative return on equity of 9.41% and a negative net margin of 33.26%. The firm had revenue of $203.29 million during the quarter, compared to analyst estimates of $204.80 million. During the same quarter last year, the business posted $0.40 earnings per share. As a group, research analysts anticipate that Global Net Lease will post 1.27 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. B. Riley decreased their price target on shares of Global Net Lease from $11.00 to $10.00 and set a “buy” rating for the company in a report on Monday, August 12th. JMP Securities reaffirmed a “market perform” rating on shares of Global Net Lease in a research note on Wednesday, June 12th. BMO Capital Markets reiterated an “outperform” rating and issued a $11.00 price target on shares of Global Net Lease in a research report on Friday, June 28th. Truist Financial upped their price target on Global Net Lease from $8.00 to $8.50 and gave the company a “hold” rating in a report on Wednesday, August 21st. Finally, StockNews.com raised shares of Global Net Lease from a “sell” rating to a “hold” rating in a research report on Thursday, August 8th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $9.83.

Global Net Lease Company Profile

Global Net Lease, Inc (NYSE: GNL) is a publicly traded real estate investment trust listed on the NYSE. The firm 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.