Short Interest in Global Net Lease, Inc. (NYSE:GNL) Increases By 11.4%

Global Net Lease, Inc. (NYSE:GNL) was the recipient of a significant growth in short interest during the month of November. As of November 15th, there was short interest totalling 5,970,000 shares, a growth of 11.4% from the October 31st total of 5,360,000 shares. Based on an average daily trading volume, of 1,300,000 shares, the days-to-cover ratio is presently 4.6 days.

Insider Transactions at Global Net Lease

In other Global Net Lease news, major shareholder Nicholas S. Schorsch purchased 100,000 shares of the stock in a transaction on Wednesday, October 2nd. The shares were bought at an average price of $8.40 per share, for a total transaction of $840,000.00. Following the completion of the transaction, the insider now owns 1,729,073 shares of the company’s stock, valued at $14,524,213.20. This trade represents a 6.14 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 0.31% of the company’s stock.

Hedge Funds Weigh In On Global Net Lease

A number of institutional investors have recently modified their holdings of the company. Bank of Montreal Can boosted its stake in Global Net Lease by 12,401.0% in the 2nd quarter. Bank of Montreal Can now owns 3,118,873 shares of the financial services provider’s stock worth $22,986,000 after buying an additional 3,093,924 shares during the last quarter. Advisors Asset Management Inc. boosted its holdings in Global Net Lease by 12.2% in the third quarter. Advisors Asset Management Inc. now owns 1,109,842 shares of the financial services provider’s stock valued at $9,345,000 after acquiring an additional 120,610 shares during the last quarter. Private Advisor Group LLC acquired a new stake in Global Net Lease during the 3rd quarter worth approximately $92,000. Wealth Enhancement Advisory Services LLC purchased a new stake in Global Net Lease during the 2nd quarter worth $292,000. Finally, Waterfall Asset Management LLC acquired a new stake in shares of Global Net Lease in the second quarter valued at about $2,122,000. Institutional investors and hedge funds own 61.19% of the company’s stock.

Global Net Lease Price Performance

GNL stock traded down $0.06 during trading on Monday, reaching $7.35. 433,482 shares of the company were exchanged, compared to its average volume of 1,461,067. The stock’s 50 day moving average price is $8.00 and its 200 day moving average price is $8.01. Global Net Lease has a 52-week low of $6.52 and a 52-week high of $10.19. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.06 and a current ratio of 0.06. The company has a market cap of $1.70 billion, a P/E ratio of -7.88, a PEG ratio of 0.97 and a beta of 1.38.

Global Net Lease (NYSE:GNL) last announced its quarterly earnings results on Wednesday, November 6th. The financial services provider reported ($0.33) earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.65). Global Net Lease had a negative net margin of 21.37% and a negative return on equity of 7.04%. The firm had revenue of $196.56 million during the quarter, compared to analysts’ expectations of $198.76 million. During the same quarter in the prior year, the business earned $0.36 EPS. As a group, analysts predict that Global Net Lease will post 1.27 earnings per share for the current fiscal year.

Global Net Lease Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 16th. Shareholders of record on Friday, October 11th were issued a $0.275 dividend. The ex-dividend date was Friday, October 11th. This represents a $1.10 dividend on an annualized basis and a yield of 14.97%. Global Net Lease’s dividend payout ratio (DPR) is -117.02%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on GNL shares. StockNews.com upgraded shares of Global Net Lease from a “sell” rating to a “hold” rating in a research report on Thursday, August 8th. Truist Financial reduced their price target on Global Net Lease from $8.50 to $8.00 and set a “hold” rating on the stock in a research report on Friday. Finally, B. Riley lowered their target price on shares of Global Net Lease from $11.00 to $10.00 and set a “buy” rating for the company in a research note on Monday, August 12th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $9.67.

About Global Net Lease

Global Net Lease, Inc (NYSE: GNL) is a publicly traded real estate investment trust listed on the NYSE. The firm 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.