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

Global Net Lease, Inc. (NYSE:GNL) was the target of a significant drop in short interest in the month of September. As of September 30th, there was short interest totalling 5,810,000 shares, a drop of 8.2% from the September 15th total of 6,330,000 shares. Based on an average daily volume of 1,430,000 shares, the days-to-cover ratio is presently 4.1 days.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on GNL. BMO Capital Markets reaffirmed an “outperform” rating and set a $11.00 price objective on shares of Global Net Lease in a research report on Friday, June 28th. StockNews.com raised Global Net Lease from a “sell” rating to a “hold” rating in a research report on Thursday, August 8th. Truist Financial raised their target price on Global Net Lease from $8.00 to $8.50 and gave the stock a “hold” rating in a research report on Wednesday, August 21st. Finally, B. Riley lowered their price target on Global Net Lease from $11.00 to $10.00 and set a “buy” rating for the company in a report on Monday, August 12th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Global Net Lease presently has an average rating of “Hold” and an average target price of $9.83.

Insider Activity

In other Global Net Lease news, major shareholder Nicholas S. Schorsch bought 100,000 shares of the business’s stock in a transaction that occurred on 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 purchase, the insider now directly owns 1,729,073 shares in the company, valued at approximately $14,524,213.20. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.31% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in GNL. Scarborough Advisors LLC acquired a new position in Global Net Lease in the fourth quarter valued at $25,000. Park Place Capital Corp acquired a new stake in shares of Global Net Lease in the third quarter worth approximately $35,000. GAMMA Investing LLC grew its holdings in Global Net Lease by 60.1% in the third quarter. GAMMA Investing LLC now owns 5,054 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 1,897 shares during the period. Verus Capital Partners LLC purchased a new position in Global Net Lease during the second quarter worth approximately $74,000. Finally, Atomi Financial Group Inc. acquired a new position in shares of Global Net Lease in the 1st quarter valued at $81,000. Institutional investors and hedge funds own 61.19% of the company’s stock.

Global Net Lease Price Performance

Shares of GNL stock traded down $0.20 during midday trading on Thursday, reaching $8.39. 1,033,867 shares of the company traded hands, compared to its average volume of 1,511,079. The firm’s 50 day simple moving average is $8.51 and its two-hundred day simple moving average is $7.87. The firm has a market cap of $1.93 billion, a PE ratio of -4.61, a price-to-earnings-growth ratio of 1.12 and a beta of 1.37. 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 has a 1-year low of $6.52 and a 1-year high of $10.19.

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

Global Net Lease Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 16th. Stockholders of record on Friday, October 11th were given a $0.275 dividend. The ex-dividend date of this dividend was Friday, October 11th. This represents a $1.10 annualized dividend and a dividend yield of 13.11%. Global Net Lease’s dividend payout ratio is currently -60.44%.

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.