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Q4 2019 Global Net Lease Inc Earnings Call

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.

It's believed to be the highest selling industrial property so far this year in the St. Louis city submarket

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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.

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 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.

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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 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.

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, 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.

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, 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, 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") today issued the following statement regarding the on-going COVID-19 pandemic.

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.

Companies in the news are: MEET, GNL, EP, MCFT