Global Net Lease, Inc. (NYSE:GNL) Sees Large Growth in Short Interest

Global Net Lease, Inc. (NYSE:GNL) was the target of a significant increase in short interest in the month of November. As of November 30th, there was short interest totalling 6,630,000 shares, an increase of 11.1% from the November 15th total of 5,970,000 shares. Based on an average daily volume of 1,310,000 shares, the days-to-cover ratio is presently 5.1 days.

Global Net Lease Stock Up 1.4 %

Shares of NYSE:GNL opened at $7.22 on Friday. The company has a market capitalization of $1.67 billion, a PE ratio of -7.68, a P/E/G ratio of 0.93 and a beta of 1.34. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 0.70. Global Net Lease has a twelve month low of $6.52 and a twelve month high of $10.19. The firm has a 50 day simple moving average of $7.73 and a 200-day simple moving average of $7.98.

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

Global Net Lease Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 16th. Stockholders 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 dividend yield of 15.24%. Global Net Lease’s payout ratio is -117.02%.

Insider Activity

In other news, major shareholder Nicholas S. Schorsch purchased 100,000 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was bought at an average price of $7.72 per share, for a total transaction of $772,000.00. Following the completion of the purchase, the insider now directly owns 1,829,073 shares of the company’s stock, valued at $14,120,443.56. The trade was a 5.78 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 GNL. Bank of Montreal Can increased 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 valued at $22,986,000 after buying an additional 3,093,924 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Global Net Lease by 392.8% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,048,596 shares of the financial services provider’s stock valued at $8,829,000 after buying an additional 835,830 shares during the period. TrueMark Investments LLC acquired a new position in Global Net Lease in the 2nd quarter valued at $3,367,000. Waterfall Asset Management LLC acquired a new position in Global Net Lease in the 2nd quarter valued at $2,122,000. Finally, Edgestream Partners L.P. increased its stake in Global Net Lease by 58.1% in the 2nd quarter. Edgestream Partners L.P. now owns 772,479 shares of the financial services provider’s stock valued at $5,678,000 after buying an additional 283,739 shares during the period. 61.19% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Truist Financial decreased their price target on shares of Global Net Lease from $8.50 to $8.00 and set a “hold” rating for the company in a research note on Friday, November 29th. 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.com, the company currently has a consensus rating of “Hold” and an average price target of $9.67.

Global Net Lease Company Profile

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.