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

Global Net Lease, Inc. (NYSE:GNL - Get Free Report) declared a quarterly dividend on Tuesday, July 1st, RTT News reports. Stockholders 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 annualized dividend and a dividend yield of 9.93%.

Global Net Lease has a payout ratio of -140.7% meaning 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 $1.20 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 Up 1.3%

GNL traded up $0.10 on Tuesday, hitting $7.65. 1,877,380 shares of the company were exchanged, compared to its average volume of 1,581,193. The stock's fifty day moving average is $7.63 and its 200-day moving average is $7.51. Global Net Lease has a 12 month low of $6.51 and a 12 month high of $9.11. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.11 and a current ratio of 0.11. The company has a market cap of $1.75 billion, a PE ratio of -5.17 and a beta of 1.23.

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

Wall Street Analyst Weigh In

GNL has been the topic of a number of recent analyst reports. B. Riley initiated coverage on shares of Global Net Lease in a research note on Tuesday, April 22nd. They issued a "neutral" rating and a $8.00 price objective on the stock. JMP Securities reiterated a "market outperform" rating and issued a $9.00 price target on shares of Global Net Lease in a research note on Thursday, June 12th. Three analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $8.33.

Insider Buying and Selling at Global Net Lease

In other news, insider Nicholas S. Schorsch sold 7,103,000 shares of Global Net Lease stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $7.43, for a total transaction of $52,775,290.00. Following the completion of the transaction, the insider directly owned 19,907,384 shares in the company, valued at $147,911,863.12. This trade represents a 26.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold a total of 7,703,000 shares of company stock worth $57,363,290 in the last quarter. 0.37% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Global Net Lease

Several institutional investors have recently modified their holdings of the business. United Services Automobile Association bought a new position in Global Net Lease during the first quarter valued at $94,000. Jones Financial Companies Lllp purchased a new position in shares of Global Net Lease during the 1st quarter valued at $296,000. AQR Capital Management LLC grew its stake in shares of 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 acquiring an additional 22,885 shares during the period. Royal Bank of Canada increased its holdings in Global Net Lease by 60.7% in the 1st 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, Amundi increased 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 acquiring an additional 12,947 shares during the last quarter. 61.19% of the stock is 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.