Global Net Lease, Inc. (NYSE:GNL) Announces Quarterly Dividend of $0.28

Global Net Lease, Inc. (NYSE:GNL - Get Free Report) announced a quarterly dividend on Monday, April 1st, investing.com reports. Shareholders of record on Thursday, April 11th will be paid a dividend of 0.275 per share by the financial services provider on Tuesday, April 16th. This represents a $1.10 dividend on an annualized basis and a yield of 14.96%. The ex-dividend date is Wednesday, April 10th. This is an increase from Global Net Lease's previous quarterly dividend of $0.06.

Global Net Lease has decreased its dividend payment by an average of 3.6% annually over the last three years. Global Net Lease has a payout ratio of 189.3% 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 $1.36 per share next year, which means the company may not be able to cover its $1.42 annual dividend with an expected future payout ratio of 104.4%.

Global Net Lease Stock Performance

Shares of GNL stock traded down $0.32 on Tuesday, hitting $7.36. The company had a trading volume of 2,123,072 shares, compared to its average volume of 1,641,658. The firm has a market cap of $1.69 billion, a P/E ratio of -4.36, a price-to-earnings-growth ratio of 1.00 and a beta of 1.34. Global Net Lease has a twelve month low of $6.83 and a twelve month high of $13.10. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.66. The company has a 50-day moving average price of $7.84 and a 200-day moving average price of $8.62.

Insider Buying and Selling

In related news, major shareholder Nicholas S. Schorsch sold 150,000 shares of the company's stock in a transaction on Friday, January 19th. The shares were sold at an average price of $8.90, for a total transaction of $1,335,000.00. Following the completion of the sale, the insider now directly owns 4,255,042 shares of the company's stock, valued at approximately $37,869,873.80. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Global Net Lease news, major shareholder Nicholas S. Schorsch sold 150,000 shares of the company's stock in a transaction dated Friday, January 19th. The shares were sold at an average price of $8.90, for a total value of $1,335,000.00. Following the completion of the transaction, the insider now directly owns 4,255,042 shares of the company's stock, valued at approximately $37,869,873.80. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Nicholas S. Schorsch sold 176,577 shares of the stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $9.04, for a total transaction of $1,596,256.08. Following the sale, the insider now owns 4,078,465 shares in the company, valued at approximately $36,869,323.60. The disclosure for this sale can be found here. In the last three months, insiders sold 571,978 shares of company stock valued at $5,362,151. Company insiders own 0.22% of the company's stock.

Institutional Investors Weigh In On Global Net Lease

Several large investors have recently made changes to their positions in GNL. Tower Research Capital LLC TRC increased its stake in shares of Global Net Lease by 232.8% in the first quarter. Tower Research Capital LLC TRC now owns 2,702 shares of the financial services provider's stock valued at $34,000 after purchasing an additional 1,890 shares during the period. PNC Financial Services Group Inc. boosted its holdings in shares of Global Net Lease by 76.1% in the second quarter. PNC Financial Services Group Inc. now owns 8,626 shares of the financial services provider's stock valued at $89,000 after acquiring an additional 3,727 shares in the last quarter. Caxton Associates LP bought a new position in shares of Global Net Lease in the fourth quarter valued at approximately $104,000. Captrust Financial Advisors bought a new position in shares of Global Net Lease in the second quarter valued at approximately $114,000. Finally, Hancock Whitney Corp bought a new position in shares of Global Net Lease in the first quarter valued at approximately $128,000. Institutional investors and hedge funds own 61.19% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on GNL shares. Truist Financial initiated coverage on Global Net Lease in a research report on Thursday, March 28th. They issued a "hold" rating and a $7.00 price target for the company. BMO Capital Markets started coverage on Global Net Lease in a research note on Tuesday, February 13th. They set an "outperform" rating and a $11.00 target price for the company. Finally, BTIG Research downgraded Global Net Lease from a "buy" rating to a "neutral" rating in a report on Friday, March 8th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, Global Net Lease presently has an average rating of "Hold" and a consensus target price of $12.00.

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.