Global Net Lease, Inc. (NYSE:GNL) declared a quarterly dividend on Thursday, April 1st, Zacks reports. Stockholders of record on Monday, April 12th will be paid a dividend of 0.40 per share by the financial services provider on Thursday, April 15th. This represents a $1.60 annualized dividend and a dividend yield of 8.38%. The ex-dividend date of this dividend is Friday, April 9th.
Global Net Lease has decreased its dividend by 18.7% over the last three years and has raised its dividend every year for the last 1 years. Global Net Lease has a payout ratio of 4,000.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Global Net Lease to earn $1.91 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 83.8%.
Shares of Global Net Lease stock opened at $19.09 on Thursday. The stock’s 50-day simple moving average is $18.37 and its 200-day simple moving average is $16.99. Global Net Lease has a 52 week low of $11.85 and a 52 week high of $19.34. The company has a market capitalization of $1.73 billion, a price-to-earnings ratio of 127.27 and a beta of 1.22. The company has a quick ratio of 0.21, a current ratio of 0.21 and a debt-to-equity ratio of 0.43.
Several brokerages have recently issued reports on GNL. B. Riley reaffirmed a “buy” rating and issued a $23.00 target price (up from $21.00) on shares of Global Net Lease in a report on Monday, March 1st. Zacks Investment Research raised Global Net Lease from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a report on Friday, March 5th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $20.88.
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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