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

Global Net Lease, Inc. (NYSE:GNL) saw a large growth in short interest in the month of 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 trading volume, of 1,310,000 shares, the short-interest ratio is currently 5.1 days.

Insider Buying and Selling at Global Net Lease

In other Global Net Lease news, major shareholder Nicholas S. Schorsch bought 100,000 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The stock was bought at an average cost of $8.40 per share, with a total value of $840,000.00. Following the completion of the transaction, the insider now directly owns 1,729,073 shares of the company’s stock, valued at approximately $14,524,213.20. The trade was a 6.14 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.31% of the company’s stock.

Hedge Funds Weigh In On Global Net Lease

Large investors have recently made changes to their positions in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings 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 last quarter. Bank of Montreal Can boosted its position 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 acquiring an additional 3,093,924 shares during the period. Charles Schwab Investment Management Inc. grew its stake 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 worth $34,176,000 after acquiring an additional 166,247 shares during the last quarter. Advisors Asset Management Inc. increased its position in Global Net Lease by 12.2% during the third quarter. Advisors Asset Management Inc. now owns 1,109,842 shares of the financial services provider’s stock worth $9,345,000 after acquiring an additional 120,610 shares during the period. Finally, Private Advisor Group LLC bought a new position in Global Net Lease during the third quarter worth $92,000. Institutional investors and hedge funds own 61.19% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Truist Financial reduced their price objective 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 equities 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, Global Net Lease presently has a consensus rating of “Hold” and a consensus target price of $9.67.

Global Net Lease Stock Down 1.4 %

Shares of Global Net Lease stock opened at $7.12 on Tuesday. Global Net Lease has a 12-month low of $6.52 and a 12-month 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 stock has a 50 day moving average price of $7.71 and a two-hundred day moving average price of $7.99. The stock has a market capitalization of $1.64 billion, a P/E ratio of -7.57, a PEG ratio of 0.93 and a beta of 1.34.

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 analysts’ consensus estimates of $0.32 by ($0.65). Global Net Lease had a negative return on equity of 7.04% and a negative net margin of 21.37%. The firm had revenue of $196.56 million during the quarter, compared to analyst estimates of $198.76 million. During the same quarter in the previous year, the firm posted $0.36 earnings per share. Equities analysts expect that Global Net Lease will post 1.27 earnings per share for the current year.

Global Net Lease Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 16th. Stockholders of record on Friday, October 11th were given a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 15.45%. The ex-dividend date of this dividend was Friday, October 11th. Global Net Lease’s dividend payout ratio is currently -117.02%.

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.