Our analysis is based on comparing Global Net Lease, Inc. with the following peers – Anworth Mortgage Asset Corporation, Investors Real Estate Trust, Douglas Emmett, Inc and AGNC Investment Corp. (ANH-US, IRET-US, DEI-US and AGNC-US).
Dividend Quality Overview
- Over the last twelve months (prior to September 30, 2017), GNL-US paid a medium quality dividend, which represents a yield of 9.94% at the current price.
- Dividend quality trend has not been consistent over the last five years. Dividends were paid during each of these years — of these 1 was high quality and 4 were medium quality.
- The ending cash balance is less than the last full year dividend payment and cannot be relied on to cushion any significant reduction of cash flows in the future.
Quadrant label definitions. Hover to know more
Over the last twelve months (prior to September 30, 2017), GNL-US paid a medium quality dividend.
The source of the company’s cash to support the dividend paid over the last twelve months is operating cash flow (coverage of 0.93x), investing cash flow (coverage of 0.72x), issuance cash flow (coverage of -0.53x) and twelve-month prior cash (coverage of 0.39x), for a total dividend coverage of 1.56x.
GNL-US’s issuance cash flow includes outflows from net debt repayment (coverage of -0.68x).
These coverage ratio factors imply that the firm’s net cash inflow from issuance was required (in addition to operating and investment cash) to pay the dividend, which suggests a medium dividend quality.
|Dividend Yield (%)||N/A||N/A||N/A||7.28||7.73||9.94|
|Dividend Payout (%)||N/A||N/A||N/A||-3686.17||262.96||434.69|
A complete list of metrics and analysis is available on the company page.
Global Net Lease, Inc. is a real estate investment trust company that engages in the acquisition of diversified global portfolio of commercial properties with an emphasis on sale leaseback transactions involving single tenant, mission critical income producing net leased assets across Western Europe and the United States. It owns properties located in the United States, the United Kingdom, and the Commonwealth of Puerto Rico. The company was founded on July 13, 2011 and is headquartered in New York, NY.
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