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

Global Net Lease, Inc. (NYSE:GNL) saw a large 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 short-interest ratio is currently 4.6 days.

Global Net Lease Stock Down 1.5 %

NYSE GNL traded down $0.11 during trading hours on Tuesday, hitting $7.25. The company had a trading volume of 1,247,220 shares, compared to its average volume of 1,464,383. The firm’s 50 day moving average is $7.97 and its 200 day moving average is $8.01. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 0.70. Global Net Lease has a fifty-two week low of $6.52 and a fifty-two week high of $10.19.

Global Net Lease (NYSE:GNL) last announced its earnings results 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 business had revenue of $196.56 million for the quarter, compared to analyst estimates 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 in the prior year, the business earned $0.36 earnings per share. On average, research analysts anticipate that Global Net Lease will post 1.27 EPS for the current fiscal year.

Global Net Lease Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 16th. Investors of record on Friday, October 11th were issued a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 15.17%. The ex-dividend date was Friday, October 11th. Global Net Lease’s dividend payout ratio is currently -117.02%.

Wall Street Analysts Forecast Growth

GNL has been the topic of several recent research reports. StockNews.com upgraded Global Net Lease from a “sell” rating to a “hold” rating in a research report on Thursday, August 8th. B. Riley reduced their target price on 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 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 note on Friday. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Global Net Lease has a consensus rating of “Hold” and a consensus price target of $9.67.

Insiders Place Their Bets

In other news, major shareholder Nicholas S. Schorsch bought 100,000 shares of Global Net Lease stock in a transaction dated Monday, November 11th. The stock was acquired at an average cost of $7.72 per share, with a total value of $772,000.00. Following the acquisition, the insider now owns 1,829,073 shares of the company’s stock, valued at approximately $14,120,443.56. This trade represents a 5.78 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. 0.31% of the stock is owned by company insiders.

Institutional Trading of Global Net Lease

Several hedge funds and other institutional investors have recently bought and sold shares of GNL. Geode Capital Management LLC boosted its stake in Global Net Lease by 1.9% in the third quarter. Geode Capital Management LLC now owns 5,093,659 shares of the financial services provider’s stock valued at $42,897,000 after acquiring an additional 95,769 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Global Net Lease by 4.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,058,850 shares of the financial services provider’s stock valued at $34,176,000 after buying an additional 166,247 shares in the last quarter. Bank of Montreal Can increased its holdings in shares of Global Net Lease by 12,401.0% in the second 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 in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Global Net Lease by 0.4% in the second quarter. Bank of New York Mellon Corp now owns 1,607,268 shares of the financial services provider’s stock valued at $11,813,000 after buying an additional 6,715 shares in the last quarter. Finally, Advisors Asset Management Inc. raised its stake in Global Net Lease by 12.2% during the 3rd quarter. Advisors Asset Management Inc. now owns 1,109,842 shares of the financial services provider’s stock valued at $9,345,000 after purchasing an additional 120,610 shares during the period. 61.19% of the stock is owned by 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.