Global Net Lease, Inc. (NYSE:GNL) announced a monthly dividend on Wednesday, September 27th, Wall Street Journal reports. Shareholders of record on Friday, December 8th will be paid a dividend of 0.1775 per share by the financial services provider on Friday, December 15th. This represents a $2.13 dividend on an annualized basis and a yield of 9.97%. The ex-dividend date is Thursday, December 7th. This is an increase from Global Net Lease’s previous monthly dividend of $0.18.
Global Net Lease has a dividend payout ratio of 105.4% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Global Net Lease to earn $2.12 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 100.5%.
Shares of Global Net Lease (NYSE:GNL) opened at $21.37 on Wednesday. The company has a market capitalization of $1,447.34, a P/E ratio of 10.05 and a beta of 0.68. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.07 and a current ratio of 0.07. Global Net Lease has a 52 week low of $20.71 and a 52 week high of $25.25.
GNL has been the topic of several research analyst reports. B. Riley reissued a “neutral” rating and set a $26.00 price target on shares of Global Net Lease in a research note on Tuesday, November 7th. Zacks Investment Research lowered Global Net Lease from a “hold” rating to a “sell” rating in a research note on Monday, October 2nd. FBR & Co reissued a “hold” rating on shares of Global Net Lease in a research note on Tuesday, October 10th. Finally, BidaskClub raised Global Net Lease from a “strong sell” rating to a “sell” rating in a research note on Tuesday, August 22nd.
Global Net Lease Company Profile
Global Net Lease, Inc is a real estate investment trust. The Company’s business consists of owning, managing, operating, leasing, acquiring, investing in and disposing of real estate assets. It owns and invests in commercial properties principally in the United States, the United Kingdom and continental Europe that are then leased to companies.
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