Global Net Lease Inc (NYSE:GNL) declared a monthly dividend on Monday, October 1st, NASDAQ reports. Investors of record on Thursday, October 11th will be paid a dividend of 0.177 per share by the financial services provider on Monday, October 15th. This represents a $2.12 annualized dividend and a yield of 10.55%. The ex-dividend date of this dividend is Wednesday, October 10th. This is a positive change from Global Net Lease’s previous monthly dividend of $0.06.
Global Net Lease has a dividend 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%.
Shares of Global Net Lease stock opened at $20.14 on Tuesday. The company has a market capitalization of $1.49 billion, a P/E ratio of 9.88 and a beta of 0.54. Global Net Lease has a fifty-two week low of $15.55 and a fifty-two week high of $22.53. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.34.
Several research analysts recently weighed in on the company. Zacks Investment Research upgraded Global Net Lease from a “hold” rating to a “buy” rating and set a $25.00 price objective for the company in a research report on Wednesday, August 15th. B. Riley set a $24.00 price target on Global Net Lease and gave the stock a “hold” rating in a research note on Friday, August 10th. Finally, ValuEngine upgraded Global Net Lease from a “sell” rating to a “hold” rating in a research note on Wednesday, July 4th.
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.
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