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

Global Net Lease, Inc. (NYSE:GNL) declared a dividend on Tuesday, July 2nd, investing.com reports. Stockholders of record on Friday, July 12th will be given a dividend of 0.275 per share by the financial services provider on Tuesday, July 16th. This represents a dividend yield of 14.97%. The ex-dividend date is Thursday, July 11th. This is a positive change from Global Net Lease’s previous dividend of $0.06.

Global Net Lease has increased its dividend by an average of 58.0% annually 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. 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 Down 0.7 %

Shares of NYSE:GNL opened at $7.30 on Tuesday. The company has a fifty day simple moving average of $7.32 and a 200 day simple moving average of $7.90. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.05 and a current ratio of 0.05. Global Net Lease has a 12-month low of $6.52 and a 12-month high of $11.58.

Insiders Place Their Bets

In related news, major shareholder Nicholas S. Schorsch sold 159,720 shares of Global Net Lease stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $7.32, for a total transaction of $1,169,150.40. Following the sale, the insider now directly owns 3,546,752 shares in the company, valued at $25,962,224.64. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, major shareholder Nicholas S. Schorsch sold 159,720 shares of Global Net Lease 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 transaction, the insider now directly owns 3,546,752 shares of the company’s stock, valued at $25,962,224.64. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, major shareholder Nicholas S. Schorsch sold 100,000 shares of the firm’s stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $7.02, for a total transaction of $702,000.00. Following the transaction, the insider now owns 1,829,073 shares of the company’s stock, valued at approximately $12,840,092.46. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,043,070 shares of company stock worth $7,497,437. 0.31% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts have recently commented on GNL shares. BTIG Research lowered Global Net Lease from a “buy” rating to a “neutral” rating in a research report on Friday, March 8th. JMP Securities reissued a “market perform” rating on shares of Global Net Lease in a report on Wednesday, June 12th. BMO Capital Markets reaffirmed an “outperform” rating and set a $11.00 target price on shares of Global Net Lease in a report on Friday. Finally, Truist Financial started coverage on Global Net Lease in a report on Thursday, March 28th. They issued a “hold” rating and a $7.00 price target on the stock. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $11.00.

About Global Net Lease

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.