Global Net Lease, Inc. Plans Quarterly Dividend of $0.19 (NYSE:GNL)

Global Net Lease, Inc. (NYSE:GNL - Get Free Report) announced a quarterly dividend on Tuesday, July 1st, RTT News reports. Shareholders of record on Friday, July 11th will be given a dividend of 0.19 per share by the financial services provider on Wednesday, July 16th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 9.79%.

Global Net Lease has a dividend payout ratio of -140.7% 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 $1.20 per share next year, which means the company should continue to be able to cover its $0.76 annual dividend with an expected future payout ratio of 63.3%.

Global Net Lease Stock Performance

Shares of NYSE:GNL traded up $0.05 during mid-day trading on Friday, reaching $7.76. 1,027,566 shares of the company traded hands, compared to its average volume of 1,586,124. The company's 50 day moving average price is $7.65 and its 200-day moving average price is $7.52. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.11 and a quick ratio of 0.11. The firm has a market cap of $1.77 billion, a PE ratio of -5.24 and a beta of 1.19. Global Net Lease has a 52 week low of $6.51 and a 52 week high of $9.11.

Global Net Lease (NYSE:GNL - Get Free Report) last released its earnings results on Wednesday, May 7th. The financial services provider reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.06. The firm had revenue of $132.42 million during the quarter, compared to analysts' expectations of $187.40 million. Global Net Lease had a negative return on equity of 9.23% and a negative net margin of 40.64%. On average, equities analysts expect that Global Net Lease will post 1.26 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on GNL. JMP Securities reaffirmed a "market outperform" rating and issued a $9.00 target price on shares of Global Net Lease in a report on Thursday, June 12th. B. Riley began coverage on shares of Global Net Lease in a research note on Tuesday, April 22nd. They set a "neutral" rating and a $8.00 price target for the company. Three analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Global Net Lease currently has a consensus rating of "Moderate Buy" and a consensus target price of $8.33.

Insider Activity at Global Net Lease

In related news, insider Nicholas S. Schorsch sold 7,103,000 shares of the business's stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $7.43, for a total value of $52,775,290.00. Following the completion of the transaction, the insider owned 19,907,384 shares of the company's stock, valued at $147,911,863.12. The trade was a 26.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders sold a total of 7,503,000 shares of company stock worth $55,773,290 in the last 90 days. Company insiders own 0.37% of the company's stock.

Hedge Funds Weigh In On Global Net Lease

Large investors have recently added to or reduced their stakes in the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Global Net Lease by 10.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,109,971 shares of the financial services provider's stock valued at $8,924,000 after buying an additional 102,173 shares during the last quarter. Intech Investment Management LLC lifted its holdings in Global Net Lease by 15.8% during the first quarter. Intech Investment Management LLC now owns 156,334 shares of the financial services provider's stock valued at $1,257,000 after purchasing an additional 21,372 shares in the last quarter. Amundi boosted its holdings in Global Net Lease by 12.3% in the 1st quarter. Amundi now owns 118,450 shares of the financial services provider's stock worth $924,000 after buying an additional 12,947 shares during the last quarter. Royal Bank of Canada boosted its stake in shares of Global Net Lease by 60.7% in the first quarter. Royal Bank of Canada now owns 72,424 shares of the financial services provider's stock worth $582,000 after acquiring an additional 27,352 shares during the last quarter. Finally, AQR Capital Management LLC boosted its stake in Global Net Lease by 95.7% during the 1st quarter. AQR Capital Management LLC now owns 46,800 shares of the financial services provider's stock worth $376,000 after purchasing an additional 22,885 shares during the last quarter. 61.19% of the stock is currently owned by institutional investors.

About Global Net Lease

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.