Global Net Lease said on April 3, 2023 that its board of directors declared a regular quarterly dividend of $0.40 per share ($1.60 annualized). Previously, the company paid $0.40 per share.
Shares must be purchased before the ex-div date of April 12, 2023 to qualify for the dividend. Shareholders of record as of April 13, 2023 will receive the payment on April 17, 2023.
At the current share price of $12.83 / share, the stock's dividend yield is 12.47%. Looking back five years and taking a sample every week, the average dividend yield has been 10.71%, the lowest has been 8.01%, and the highest has been 18.33%. The standard deviation of yields is 1.43 (n=237).
The current dividend yield is 1.24 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 13.77. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company has not increased its dividend in the last three years.
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Analyst Price Forecast Suggests 29.19% Upside
As of March 30, 2023, the average one-year price target for Global Net Lease is $16.58. The forecasts range from a low of $13.13 to a high of $19.95. The average price target represents an increase of 29.19% from its latest reported closing price of $12.83.
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The projected annual revenue for Global Net Lease is $421MM, an increase of 11.04%. The projected annual non-GAAP EPS is -$0.06.
What is the Fund Sentiment?
There are 478 funds or institutions reporting positions in Global Net Lease. This is an increase of 16 owner(s) or 3.46% in the last quarter. Average portfolio weight of all funds dedicated to GNL is 0.12%, a decrease of 3.91%. Total shares owned by institutions increased in the last three months by 3.38% to 81,937K shares. The put/call ratio of GNL is 1.16, indicating a bearish outlook.
What are Large Shareholders Doing?
IJR - iShares Core S&P Small-Cap ETF holds 7,692K shares representing 7.44% ownership of the company. In it's prior filing, the firm reported owning 7,582K shares, representing an increase of 1.43%. The firm increased its portfolio allocation in GNL by 8.93% over the last quarter.
VGSIX - Vanguard Real Estate Index Fund Investor Shares holds 4,625K shares representing 4.47% ownership of the company. In it's prior filing, the firm reported owning 4,696K shares, representing a decrease of 1.54%. The firm increased its portfolio allocation in GNL by 10.09% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 3,136K shares representing 3.03% ownership of the company. In it's prior filing, the firm reported owning 3,128K shares, representing an increase of 0.24%. The firm increased its portfolio allocation in GNL by 9.26% over the last quarter.
NAESX - Vanguard Small-Cap Index Fund Investor Shares holds 2,674K shares representing 2.59% ownership of the company. In it's prior filing, the firm reported owning 2,636K shares, representing an increase of 1.42%. The firm increased its portfolio allocation in GNL by 10.85% over the last quarter.
IWM - iShares Russell 2000 ETF holds 2,411K shares representing 2.33% ownership of the company. In it's prior filing, the firm reported owning 2,287K shares, representing an increase of 5.16%. The firm increased its portfolio allocation in GNL by 12.70% over the last quarter.
Global Net Lease Background Information
(This description is provided by the company.)
Global Net Lease, Inc. 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.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
