Global Net Lease, Inc. (NYSE:GNL) Short Interest Update

Global Net Lease, Inc. (NYSE:GNL) was the recipient of a large increase in short interest in October. As of October 15th, there was short interest totalling 6,230,000 shares, an increase of 7.2% from the September 30th total of 5,810,000 shares. Based on an average trading volume of 1,360,000 shares, the days-to-cover ratio is currently 4.6 days.

Wall Street Analyst Weigh In

Several research firms recently issued reports on GNL. StockNews.com upgraded Global Net Lease from a “sell” rating to a “hold” rating in a report on Thursday, August 8th. B. Riley dropped their price target on shares of Global Net Lease from $11.00 to $10.00 and set a “buy” rating on the stock in a research note on Monday, August 12th. Finally, Truist Financial boosted their target price on shares of Global Net Lease from $8.00 to $8.50 and gave the stock a “hold” rating in a research report on Wednesday, August 21st. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $9.83.

Insider Buying and Selling

In related news, major shareholder Nicholas S. Schorsch acquired 100,000 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The shares were purchased at an average cost of $8.40 per share, with a total value of $840,000.00. Following the completion of the acquisition, the insider now directly owns 1,729,073 shares of the company’s stock, valued at $14,524,213.20. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.31% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Global Net Lease

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sunbelt Securities Inc. increased its position in shares of Global Net Lease by 10.3% in the second quarter. Sunbelt Securities Inc. now owns 14,449 shares of the financial services provider’s stock worth $106,000 after acquiring an additional 1,351 shares in the last quarter. Louisiana State Employees Retirement System boosted its position in Global Net Lease by 1.7% during the second quarter. Louisiana State Employees Retirement System now owns 98,300 shares of the financial services provider’s stock worth $723,000 after purchasing an additional 1,600 shares during the period. Texas Permanent School Fund Corp lifted its stake in shares of Global Net Lease by 1.0% in the first quarter. Texas Permanent School Fund Corp now owns 170,328 shares of the financial services provider’s stock worth $1,323,000 after buying an additional 1,689 shares during the last quarter. Arkadios Wealth Advisors raised its holdings in Global Net Lease by 3.2% in the 2nd quarter. Arkadios Wealth Advisors now owns 58,017 shares of the financial services provider’s stock worth $426,000 after acquiring an additional 1,789 shares during the period. Finally, Cobblestone Asset Management LLC grew its position in shares of Global Net Lease by 4.2% in the third quarter. Cobblestone Asset Management LLC now owns 44,537 shares of the financial services provider’s stock valued at $375,000 after purchasing an additional 1,804 shares during the last quarter. Institutional investors own 61.19% of the company’s stock.

Global Net Lease Trading Down 1.7 %

GNL traded down $0.13 during trading on Friday, hitting $7.66. The company’s stock had a trading volume of 1,079,367 shares, compared to its average volume of 1,484,637. The stock has a market cap of $1.77 billion, a PE ratio of -4.48, a PEG ratio of 1.05 and a beta of 1.37. Global Net Lease has a twelve month low of $6.52 and a twelve month high of $10.19. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.05 and a quick ratio of 0.05. The firm’s 50 day moving average price is $8.49 and its 200-day moving average price is $7.93.

Global Net Lease (NYSE:GNL) last announced its earnings results on Tuesday, August 6th. The financial services provider reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.52). The business had revenue of $203.29 million for the quarter, compared to analysts’ expectations of $204.80 million. Global Net Lease had a negative return on equity of 9.41% and a negative net margin of 33.26%. During the same period in the previous year, the firm posted $0.40 earnings per share. On average, analysts expect that Global Net Lease will post 1.27 earnings per share for the current year.

Global Net Lease Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 16th. Shareholders of record on Friday, October 11th were paid a dividend of $0.275 per share. The ex-dividend date was Friday, October 11th. This represents a $1.10 annualized dividend and a yield of 14.36%. Global Net Lease’s payout ratio is -63.95%.

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.