In trading on Wednesday, shares of Global Net Lease Inc’s 7.375% Series C Cumulative Redeemable Perpetual Preferred Stock (Symbol: GNL.PRE) yielded over 8% based on its quarterly dividend of $1.8438, with trading prices dipping as low as $22.96. This yield compares favorably to the average of 8.09% in the “Real Estate” preferred stock category. At the last close, GNL.PRE was trading at a 7.32% discount to its liquidation preference amount, significantly better than the average discount of 14.85% in the same category.
As of Wednesday, GNL.PRE shares are down approximately 0.9% on the day, while the common shares (Symbol: GNL) declined by about 1.3%.
