|Bid||13.62 x 1200|
|Ask||14.23 x 1100|
|Day's Range||13.53 - 14.03|
|52 Week Range||8.77 - 21.71|
|Beta (5Y Monthly)||0.96|
|PE Ratio (TTM)||37.83|
|Earnings Date||Aug 05, 2020 - Aug 10, 2020|
|Forward Dividend & Yield||1.60 (11.49%)|
|Ex-Dividend Date||Apr 09, 2020|
|1y Target Est||21.63|
Nobody likes to see a dividend get cut, but don't take Global Net Lease's cut as a sign that similar REITs are going to cut too.
Global Net Lease, Inc. (NYSE: GNL) ("GNL" or the "Company") announced today that it closed on a multi-property refinancing encumbering seven properties in France (the "French Multi-Property Financing") and signed a term sheet for a potential new mortgage loan that would ultimately be syndicated by a group of regional banks led by BOK Financial for a mortgage encumbering six properties leased to Whirlpool Corporation in the United States.
Good morning, everyone, and thank you for joining us for GNL's first quarter 2020 earnings call. This call is being webcast in the Investor Relations section of GNL's website at www.globalnetlease.com. Joining me today on the call to discuss the quarter's results are Jim Nelson, GNL's Chief Executive Officer; and Chris Masterson, GNL's Chief Financial Officer.
So, what’s going on in the stock markets? Are they completely haywire? Since February 19, when the bull market ended, the Dow Jones has fallen 36.6% and then gained back, in uneven steps, some 28% from the trough. Movements have been similar in the S&P 500 and the NASDAQ. For the last few weeks, both the S&P and Dow have been holding fairly steady – the S&P near 2,850 and the Dow near 23,950.Yet, there are more questions raised than answers. Are we in a true rally, or will the slide resume? What will happen when people return to work; will the economy pop back up again, or are we in a new recession? And if a recession, how bad will it get? The answer to that last may be worse than anticipated: The number of Americans filing for unemployment benefits because of the coronavirus has soared past 30 million.Corporate earnings season is in full swing, and the results are in-line with predictions – which is to say, profits are registering the worst quarterly decline since 2009. The economic impact of the COVID-19 epidemic is going to be with us for some time to come.Which means, for investors looking to boost their income, that dividends are the natural way to go. Governments have cut interest rates to the bare bones in an effort to provide stimulus – the US Federal Reserve’s key rate is down to the 0.0 to 0.25% range – and US Treasury bond yields are down below 1%. Stock dividends, however, can still provide high returns, and careful investors can find high-yielding dividend stocks that also present a strong case for share appreciation.We’ve used TipRanks database to find three stock to fit that profile. Each is showing a dividend yield of 10% or higher, and each also has at least a 30% upside potential in the coming year. Let’s see what Wall Street has to say about them.Global Net Lease, Inc. (GNL)We’ll start with a real estate investment trust, and reasonably so, for these companies typically show superb dividend yields. REITs exist to buy, own, and operate various forms of real property and mortgage assets, and derive their income mainly from rents and management fees. Global Net Lease focuses on commercial properties in the US and Europe. The company’s portfolio aims to provide both strong growth potential and stable dividend streams.The dividend stream is definitely there. In mid-2019, GNL raised its dividend from 18 cents to 53 cents quarterly, reflecting stable earnings. The current payment, announced this month and set for distribution to shareholders on the 15th, is 40 cents per share – the reduction is in anticipation of lower revenues due to the current economic shock. The annualized rate, $1.60, gives a dividend yield of 12%. This is 6x higher than the average yield found among S&P listed dividend stocks – and more than 12x higher than US Treasure bond yields.GNL’s earnings are expected to come in after hours on May 6, at 44 cents per share. EPS at that level will easily cover the dividend payment, with a payout ratio of 91%. Last quarter, GNL beat the earnings forecast, registering 44 cents EPS compared to a 42-cent prediction.4-star analyst Michael Gorman, of BTIG, sees Global Net as well positioned to survive the COVID-19 epidemic. He points out the diversity of the company’s portfolio, particularly its geographic spread. Taking coronavirus into account, Gorman lowered the full year earnings estimates for 2020 and 2021, but remains otherwise bullish. He writes, “GNL’s large exposure to countries outside of the U.S. and its focus on office/industrial properties might provide some buffer from the consumer challenges facing the economy from Covid-19… However, as the pandemic is a global event and is disrupting both offices as well as supply chains, we suspect the portfolio will still see some impact. The primary driver of our lower estimates is decreased investment volumes due to market volatility.”Overall, Gorman maintains his $23 price target on this stock, implying a healthy upside potential of 68% to back up his Buy rating. (To watch Gorman’s track record, click here)From the unanimous Strong Buy consensus rating, based on 3 recent reviews, it’s clear that Wall Street agrees with Gorman that GNL is a stock worth buying. The shares are attractively priced at just $13.65, and the average price target of $21.50 suggests that there is room for 61% appreciation this year. (See Global Net Lease stock analysis on TipRanks)Hess Midstream Operations (HESM)Midstreaming may not be the first thing you think of when you turn your attention to the oil industry, but it’s absolutely essential. Hess Midstream provides services and facilities for the gathering, processing, storage, terminaling, and transport of crude oil and natural gas in the rich Bakken Formation of the Dakotas.While oil and natural gas remain essential, even for an economy currently hamstrung by coronavirus, the epidemic has cut back on activity in Hess’s midstream operations. In March, the company released updated guidance for 2020. Taking the economic slowdown into account, management revised full-year net income downward to the range of $420 to $440 million, a 4% adjustment at the midpoint. On a positive note, strong year-to-date performance led the company to revise Q1 guidance and 2020 free cash flow slightly upward. Hess will report earnings on May 7, and we’ll see then how the new guidance corresponds to reality.One hint may come from the company’s dividend. Late last month – after issuing the above guidance – Hess announced a 43.1 cent quarterly dividend payment for Q1. This is an increase of 1.2% sequentially and 5% year-over-year. Hess has been raising its dividend steadily over the past three years, and it’s an important indicator of company confidence that it did so again – even in the midst of the current epidemic. The yield, at 11.7%, is impressive by any standard.Credit Suisse analyst Spiro Dounis takes a bullish position on HESM shares. After participating in a call with company management, Dounis notes that Hess’s contract structure allows it to maintain profits into 2021 even if rig activity halts altogether and that the company’s free cash flow is sufficient to keep up the dividend. Noting Hess’s apparent strength, he writes, “[B]uying HESM today would seem to imply you are not paying anything for growth and have considerable option value on a Bakken recovery.”Dounis backs his bullishness with a $16 price target that implies a 10% upside potential for the stock. (To watch Dounis’ track record, click here)Wall Street is actually more bullish on HESM than Dounis allows. The 3 Buy and 1 Hold rating add up to a Strong Buy consensus view, while the $19.25 average price target suggests room for a 31% one-year upside to the stock. (See Hess Midstream stock analysis on TipRanks)To find good ideas for dividend stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.
Global Net Lease (GNL) delivered FFO and revenue surprises of -6.38% and -1.44%, respectively, for the quarter ended March 2020. Do the numbers hold clues to what lies ahead for the stock?
Global Net Lease, Inc. (NYSE: GNL) ("GNL" or the "Company") announced today it will release its financial results for the first quarter ended March 31, 2020 on Wednesday, May 6, 2020 before the start of trading on the New York Stock Exchange.
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Real estate investment trust Global Net Lease (GNL) has approved a short-term stockholder rights plan (aka a ‘poison pill’) to protect the company from the actions of third parties that are not in GNL’s best interest.“The Board has adopted the Plan at this time due to the substantial volatility in the trading of the Company’s common stock that has resulted from the ongoing COVID-19 pandemic” GNL stated in a press release.Indeed, shares in GNL are currently trading down over 30% year-to-date- although the stock has bounced over 15% in the last five days alone (vs a 10% gain for the S&P 500).Similar to plans adopted recently by other publicly held companies, GNL’s stockholder plan is designed to reduce the likelihood that a third party would gain control of GNL by imposing significant penalties upon any person or group that acquires 4.9% or more of the outstanding shares of the company without the board’s approval.The plan, which expires on April 8, 2021, is not intended to prevent any action that the board determines to be in the company’s best interest and also exempts passive investors.According to TipRanks, GNL has a Moderate Buy analyst consensus and a $21.50 average analyst price target (for upside of 56%). (See GNL’s stock analysis on TipRanks)BTIG’s Michael Gorman recently initiated coverage on the stock with a buy rating, arguing that GNL should see above-average returns due to the “external growth, differentiated property exposure, and an improved balance sheet”.Related News: Tesla Scored Record China Sales In March, Says Industry Association Disney+ Hits New Milestone With 50 Million Paid Subscribers Starbucks Feels The Pain; Expects 46% Fall In Earnings, Pulls Full Year Guidance More recent articles from Smarter Analyst: * Beyond Meat To Bring Plant-Based Beef To China * Uber Scores $810M Government Contract; Trialing Two New Services To Boost Demand * GE Enters Into $15B Credit Facility, Stock Plunges Over 40% YTD * Pepsi Scores FTC Approval For $3.85 Billion Rockstar Deal
Global Net Lease, Inc. (NYSE: GNL) ("GNL" or the "Company") announced today that its Board of Directors (the "Board") has approved a short-term stockholder rights plan (the "Plan") to protect the long-term interests of the Company. The Board has adopted the Plan at this time due to the substantial volatility in the trading of the Company's common stock (the "Common Stock") that has resulted from the ongoing COVID-19 pandemic.
Global Net Lease, Inc. (NYSE:GNL), which is in the reits business, and is based in United States, received a lot of...
Global Net Lease, Inc. ("GNL" or the "Company") (NYSE: GNL/ GNL PRA / GNL PRB) announced today that it intends to pay dividends on its shares of common stock at an annualized rate of $1.60 per share or $0.40 per share on a quarterly basis. GNL anticipates paying dividends authorized by its board of directors on its shares of common stock on a quarterly basis in arrears on the 15th day of the first month following the end of each fiscal quarter (unless otherwise specified) to common stock holders of record on the record date for such payment.
Global Net Lease, Inc. (NYSE: GNL) ("GNL" or the "Company") announced today that its Board of Directors has approved a reduction in the Company's annualized dividend to $1.60 per share of common stock from $2.13 per share due to limited visibility on the long-term impact of the COVID-19 virus. The Company is taking this action to proactively preserve cash for the continued long term operation of the Company as well as for potential business opportunities.
Global Net Lease, Inc. ("GNL") (NYSE: GNL/ GNL PRA / GNL PRB) announced today that it intends to continue to pay dividends on a quarterly basis on its 7.25% Series A Cumulative Redeemable Preferred Stock (the "Series A Preferred Stock") at an annualized rate of $1.8125 per share or $0.453125 per share on a quarterly basis. Dividends on the Series A Preferred Stock are payable in arrears to Series A Preferred Stock holders of record at the close of business on the applicable record date and payable on the 15th day of the first month of each fiscal quarter (or, if not a business day, the next succeeding business day).
Global Net Lease, Inc. (NYSE: GNL) ("GNL" or the "Company") announced today that, due to the emerging public health impact of the coronavirus pandemic, the location of the Company's 2020 annual meeting of stockholders has been changed and will be held in a virtual meeting format only. As previously announced, the annual meeting will be held on Wednesday, March 25, 2020 at 3:00 p.m. Eastern Time. To be admitted to the annual meeting at www.virtualshareholdermeeting.com/GNL2020, stockholders must enter the control number found on their proxy card, voting instruction form or notice previously received. Further information regarding this change to the location of the annual meeting can be found in the proxy supplement filed by the Company with the Securities and Exchange Commission on March 13, 2020.
Global Net Lease (GNL) delivered FFO and revenue surprises of -2.22% and -3.46%, respectively, for the quarter ended December 2019. Do the numbers hold clues to what lies ahead for the stock?
For many investors, the main point of stock picking is to generate higher returns than the overall market. But if you...
Global Net Lease, Inc. (NYSE: GNL) ("GNL" or the "Company") announced today it will release its financial results for the fourth quarter and year ended December 31, 2019 on Wednesday, February 26, 2020 before the start of trading on the New York Stock Exchange.
When a stock goes up, that's good. We all like to "buy low" and "sell high." Problem is, that's not always the way things work out. Sometimes, you buy a stock low, and it fails to become high. In fact, sometimes it goes... lower!So how do profit when a stock stubbornly refuses to go up? How do you mitigate the damage of a stock that sinks instead of rising? How do you guarantee that you make a profit no matter what?One word: Dividends.Using TipRank's Stock Screener tool it's possible to identify and invest in stocks paying dividends rich enough to deliver something close to the stock market's promised "10% long-term average return" out of dividend income alone. And if, in an ideal situation, the stock both pays its dividend and goes up in stock price? Why then, you should be well ahead of the game. Here are three stocks offering such double-whammy profit potential.Saratoga Investment (SAR)Beginning at the top, Saratoga Investment is a corporation that makes investments (Surprise!). Specifically, it's a business development company that specializes in lending money and making equity investments to facilitate leveraged and management buyouts of smaller companies -- companies doing at least $2 million in annual earnings before interest, taxes, depreciation, and amortization (EBITDA).Last week, Saratoga Investment was brought to our attention by Maxim analyst Michael Diana, when he noted that two recent investment "exits" had provided enough liquidity to raise the company's net asset value by about 9% -- prompting a price target hike to $29 a share. Saratoga closed trading Friday at $26.74, so that's a target price about 8.5% above current market price. (To watch Diana's track record, click here)But as I've already implied, price target isn't the only attraction at Saratoga, which also pays a big dividend yield of 8.7%. That's more than 4x the going rate on the S&P 500, and as Diana points out, Saratoga grew its dividend payout for 20 consecutive quarters before taking a "pause" in fiscal Q3 2020. What's more, once Saratoga has had an opportunity to reinvest the cash raised from its recent exits, Diana anticipates we'll see further dividend hikes in this company's future -- perhaps as soon as fiscal 2021.This prospect appears to have attracted the attention of other analysts as well. In addition to Maxim, two other investment banks, B. Riley FBR and Compass Point, have issued buy ratings on the stock in the past week. With an average target price of $27.60, Wall Street seems in agreement that this stock is worth at least 3% more than it's selling for today, and with its dividend added in, should deliver a total expected return on the order of nearly 12% over the next year. (See Saratoga stock analysis at TipRanks)Ares Capital Corp (ARCC)A second company in the business development biz is Ares Capital Corporation, and like Saratoga, it's a generous dividend payer -- 8.6%. Un-like Saratoga, Ares Capital is a much larger fish, boasting a market capitalization of $7.9 billion, versus Saratoga's market cap of just $260 million.With much more capital to work with, Ares also fishes in deeper waters. A specialist in business acquisitions, recapitalizations, and restructurings, this company makes investments as large as $400 million at a time -- and in companies doing up to $250 million in EBITDA -- both through the extension of direct loans, and also by participating in syndicated loans (loans extended by a group of companies acting in concert, and spreading around both the risk and the profit).Earlier this month, Ares, too won an endorsement on Wall Street, when Wedbush analyst Henry Coffey bumped his its 12-month price target by 5% to $21 a share, implying 12.5% upside to the shares. (To watch Coffey's track record, click here)Whereas Maxim believes that Saratoga will resume raising its dividends next year, Coffey is optimistic that Ares will hike its dividend this year, and not by a little either, but from $0.40 to $0.47 per share -- a 17.5% increase.Incidentally, Coffey's price target is now the highest on Wall Street -- but others do share his sentiment. On average, analysts see about 10% upside to $20.50 for this stock, and the most recent rating prior to Coffey's was likewise a "buy" -- from RBC Capital analyst Kenneth Lee. (See Ares Capital stock analysis at TipRanks)Global Net Lease (GNL)Shifting gears a bit here at the end, our third and final 8%-plus payer of the day is not a business development company, but a real estate investment trust (REIT) instead.Focusing on the leasing of commercial office space (52% of assets), industrial and warehouse space (43%), and retail (5%0, Global Net Lease is a globe-spanning corporation with $1.8 billion in market cap, $300 million in revenue, and operations in seven different countries in Europe and North America. In line with the well-publicized struggles of brick-and-mortar retail in the U.S., Global Net Lease has been gradually reducing its exposure to this aspect of the market, in particular, divesting 32 Family Dollar locations in the final quarter of 2019.The company still does good business with the properties it's keeping, however, and indeed has 99.6% of the properties on its books leased and generating rental income.Speaking of which, Global Net Lease stands out on today's list as the only company that currently pays out more money in dividends than it makes in profit -- a point of some concern inasmuch as the company needs to earn profits if it's to maintain its generous 10.5% dividend yield. No to worry, though. In a note issued in November, B. Riley FBR analyst Bryan Maher assured investors that recent purchases of "12 net lease properties in the U.S." and planned purchases of 17 other properties in the U.S., Italy, and Canada, have Global Net lease "on pace to [earn enough money to] cover its dividend by mid-2021."Accordingly, Maher maintains a "buy" rating on the stock with a $24 price target that implies nearly 21% upside to the stock. (To watch Maher's track record, click here)Judging from the consensus breakdown, it has been relatively quiet when it comes to other analyst activity. Over the last three months, only 2 analysts have reviewed the real estate firm. Both of which, however, were bullish, making the consensus a Moderate Buy. On top of this, the $22.75 average price target puts the upside potential at ~15%. (See GNL stock analysis at TipRanks)
Global Net Lease, Inc. (NYSE: GNL) ("GNL" or the "Company"), a real estate investment trust focused on the acquisition of industrial, distribution and office properties leased long-term to high quality corporate tenants in select markets in the United States and Europe, today provided an update on transactions completed in the fourth quarter and full year 2019. The Company closed on the acquisition of 19 properties during the fourth quarter 2019, representing 3.5 million square feet for approximately $252 million, bringing the full year total to 39 properties for $576 million.