Global Net Lease Inc (NYSE:GNL) declared a monthly dividend on Tuesday, July 3rd, Wall Street Journal reports. Stockholders of record on Thursday, September 13th will be given a dividend of 0.1775 per share by the financial services provider on Monday, September 17th. This represents a $2.13 dividend on an annualized basis and a dividend yield of 9.85%. The ex-dividend date of this dividend is Wednesday, September 12th.
Global Net Lease has a payout ratio of 103.9% 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 $2.09 per share next year, which means the company may not be able to cover its $2.13 annual dividend with an expected future payout ratio of 101.9%.
GNL stock opened at $21.63 on Friday. The stock has a market cap of $1.55 billion, a PE ratio of 10.37 and a beta of 0.54. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.34. Global Net Lease has a 1 year low of $15.55 and a 1 year high of $22.53.
Global Net Lease (NYSE:GNL) last released its quarterly earnings data on Wednesday, August 8th. The financial services provider reported $0.08 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.52 by ($0.44). The company had revenue of $70.97 million for the quarter, compared to the consensus estimate of $68.81 million. Global Net Lease had a return on equity of 1.69% and a net margin of 8.68%. sell-side analysts expect that Global Net Lease will post 2.05 EPS for the current fiscal year.
A number of research firms have recently issued reports on GNL. Zacks Investment Research cut shares of Global Net Lease from a “buy” rating to a “hold” rating in a research report on Wednesday, August 22nd. B. Riley set a $24.00 price objective on shares of Global Net Lease and gave the stock a “hold” rating in a research report on Friday, August 10th. Finally, ValuEngine raised shares of Global Net Lease from a “sell” rating to a “hold” rating in a research report on Wednesday, July 4th.
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.
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