Short Interest in Global Net Lease, Inc. (NYSE:GNL) Expands By 7.2%

Global Net Lease, Inc. (NYSE:GNL) was the recipient of a significant growth in short interest in October. As of October 15th, there was short interest totalling 6,230,000 shares, a growth 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 presently 4.6 days.

Insiders Place Their Bets

In other news, major shareholder Nicholas S. Schorsch purchased 100,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was purchased at an average cost of $8.40 per share, with a total value of $840,000.00. Following the acquisition, the insider now directly owns 1,729,073 shares of the company’s stock, valued at approximately $14,524,213.20. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 0.31% of the company’s stock.

Institutional Investors Weigh In On Global Net Lease

Several hedge funds have recently added to or reduced their stakes in the business. Kovack Advisors Inc. lifted its stake in shares of Global Net Lease by 22.4% in the 1st quarter. Kovack Advisors Inc. now owns 72,435 shares of the financial services provider’s stock valued at $563,000 after purchasing an additional 13,235 shares during the period. First Trust Direct Indexing L.P. bought a new stake in shares of Global Net Lease in the 1st quarter valued at $132,000. Commonwealth Equity Services LLC lifted its position in shares of Global Net Lease by 1.5% during the 1st quarter. Commonwealth Equity Services LLC now owns 304,660 shares of the financial services provider’s stock valued at $2,367,000 after acquiring an additional 4,524 shares during the period. Diversify Advisory Services LLC acquired a new stake in Global Net Lease in the first quarter worth $272,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Global Net Lease by 25.9% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,236,299 shares of the financial services provider’s stock valued at $17,376,000 after purchasing an additional 460,717 shares during the period. 61.19% of the stock is currently owned by institutional investors and hedge funds.

Global Net Lease Stock Performance

Global Net Lease stock traded down $0.13 during mid-day trading on Friday, hitting $7.66. 1,079,367 shares of the company’s stock traded hands, compared to its average volume of 1,484,637. The stock has a market cap of $1.77 billion, a price-to-earnings ratio of -4.48, a P/E/G ratio of 1.05 and a beta of 1.37. The firm has a 50 day simple moving average of $8.49 and a two-hundred day simple moving average of $7.93. Global Net Lease has a fifty-two week low of $6.52 and a fifty-two week 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.

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

Global Net Lease Announces Dividend

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

Analysts Set New Price Targets

GNL has been the topic of a number of research analyst reports. StockNews.com raised shares of Global Net Lease from a “sell” rating to a “hold” rating in a report on Thursday, August 8th. B. Riley lowered their price target on shares of Global Net Lease from $11.00 to $10.00 and set a “buy” rating for the company in a report on Monday, August 12th. Finally, Truist Financial increased their price objective on Global Net Lease from $8.00 to $8.50 and gave the company a “hold” rating in a research report on Wednesday, August 21st. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $9.83.

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.