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

Global Net Lease, Inc. (NYSE:GNL) saw a large growth in short interest in November. As of November 30th, there was short interest totalling 6,630,000 shares, a growth 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 short-interest ratio is currently 5.1 days.

Analysts Set New Price Targets

Separately, Truist Financial decreased their price objective on shares of Global Net Lease from $8.50 to $8.00 and set a “hold” rating on the stock in a research report on Friday, November 29th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, Global Net Lease presently has an average rating of “Hold” and a consensus target price of $9.67.

Global Net Lease Price Performance

Global Net Lease stock opened at $7.22 on Friday. Global Net Lease has a 52 week low of $6.52 and a 52 week high of $10.19. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 0.70. The firm’s 50-day simple moving average is $7.73 and its 200 day simple moving average is $7.98. The firm 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.

Global Net Lease (NYSE:GNL) last released its earnings results on Wednesday, November 6th. The financial services provider reported ($0.33) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.65). The firm had revenue of $196.56 million during the quarter, compared to analysts’ expectations of $198.76 million. Global Net Lease had a negative net margin of 21.37% and a negative return on equity of 7.04%. During the same quarter last year, the company posted $0.36 earnings per share. On average, equities research analysts predict that Global Net Lease will post 1.27 EPS 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 15.24%. Global Net Lease’s dividend payout ratio (DPR) is -117.02%.

Insiders Place Their Bets

In other Global Net Lease news, major shareholder Nicholas S. Schorsch acquired 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were acquired at an average cost of $8.40 per share, for a total transaction of $840,000.00. Following the transaction, the insider now directly owns 1,729,073 shares of the company’s stock, valued at approximately $14,524,213.20. This represents a 6.14 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.31% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GNL. American Capital Advisory LLC acquired a new position in shares of Global Net Lease during the 3rd quarter valued at about $34,000. Park Place Capital Corp acquired a new position in shares of Global Net Lease during the 3rd quarter valued at about $35,000. GAMMA Investing LLC increased its stake in shares of Global Net Lease by 60.1% during the 3rd quarter. GAMMA Investing LLC now owns 5,054 shares of the financial services provider’s stock valued at $43,000 after acquiring an additional 1,897 shares during the last quarter. McIlrath & Eck LLC acquired a new position in shares of Global Net Lease during the 3rd quarter valued at about $67,000. Finally, KBC Group NV increased its stake in shares of Global Net Lease by 37.4% during the 3rd quarter. KBC Group NV now owns 9,311 shares of the financial services provider’s stock valued at $78,000 after acquiring an additional 2,535 shares during the last quarter. 61.19% of the stock is currently owned by hedge funds and other institutional investors.

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.