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

Global Net Lease, Inc. (NYSE:GNL) declared a quarterly dividend on Tuesday, July 1st, RTT News reports. Shareholders of record on Friday, July 11th will be paid 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 yield of 10.04%.

Global Net Lease has a 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 research 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 Trading Up 0.8%

Shares of GNL opened at $7.57 on Tuesday. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.11 and a quick ratio of 0.11. Global Net Lease has a 1-year low of $6.51 and a 1-year high of $9.11. The stock has a market cap of $1.73 billion, a price-to-earnings ratio of -5.11 and a beta of 1.23. The firm has a 50 day simple moving average of $7.63 and a 200-day simple moving average of $7.51.

Global Net Lease (NYSE:GNL) last issued its quarterly earnings data 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 for 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 analysts forecast that Global Net Lease will post 1.26 EPS for the current fiscal year.

Insider Activity at Global Net Lease

In related news, insider Nicholas S. Schorsch sold 7,103,000 shares of the firm’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 sale, the insider directly owned 19,907,384 shares of the company’s stock, valued at approximately $147,911,863.12. This trade represents a 26.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last three months, insiders have sold 7,703,000 shares of company stock worth $57,363,290. Corporate insiders own 0.37% of the company’s stock.

Hedge Funds Weigh In On Global Net Lease

Institutional investors and hedge funds have recently bought and sold shares of the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Global Net Lease by 10.1% during the 1st 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 period. Intech Investment Management LLC boosted its holdings in Global Net Lease by 15.8% in 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 acquiring an additional 21,372 shares during the last quarter. Amundi grew its position in Global Net Lease by 12.3% during the first quarter. Amundi now owns 118,450 shares of the financial services provider’s stock valued at $924,000 after acquiring an additional 12,947 shares during the period. Royal Bank of Canada grew its position in Global Net Lease by 60.7% during the first quarter. Royal Bank of Canada now owns 72,424 shares of the financial services provider’s stock valued at $582,000 after acquiring an additional 27,352 shares during the period. Finally, AQR Capital Management LLC raised its holdings in shares of Global Net Lease by 95.7% in 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 period. Institutional investors and hedge funds own 61.19% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. JMP Securities reiterated a “market outperform” rating and set a $9.00 price target on shares of Global Net Lease in a report on Thursday, June 12th. B. Riley started coverage on shares of Global Net Lease in a research note on Tuesday, April 22nd. They issued a “neutral” rating and a $8.00 target price for the company. Three analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $8.33.

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.