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

Global Net Lease, Inc. (NYSE:GNL) was the target of a large increase in short interest in November. As of November 15th, there was short interest totalling 5,970,000 shares, an increase of 11.4% from the October 31st total of 5,360,000 shares. Based on an average trading volume of 1,300,000 shares, the short-interest ratio is currently 4.6 days.

Global Net Lease Trading Down 1.5 %

Shares of NYSE GNL traded down $0.11 during mid-day trading on Tuesday, hitting $7.25. 1,247,220 shares of the stock were exchanged, compared to its average volume of 1,464,383. The stock’s fifty day simple moving average is $7.97 and its two-hundred day simple moving average is $8.01. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.06 and a current ratio of 0.06. Global Net Lease has a twelve month low of $6.52 and a twelve month high of $10.19.

Global Net Lease (NYSE:GNL) last released its quarterly earnings results on Wednesday, November 6th. The financial services provider reported ($0.33) EPS for the quarter, missing the consensus estimate of $0.32 by ($0.65). Global Net Lease had a negative net margin of 21.37% and a negative return on equity of 7.04%. The company had revenue of $196.56 million for the quarter, compared to the consensus estimate of $198.76 million. During the same period last year, the company earned $0.36 earnings per share. As a group, equities research analysts forecast that Global Net Lease will post 1.27 EPS for the current year.

Global Net Lease Announces Dividend

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

Insider Activity

In other news, major shareholder Nicholas S. Schorsch purchased 100,000 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was bought at an average cost of $7.72 per share, for a total transaction of $772,000.00. Following the completion of the acquisition, the insider now directly owns 1,829,073 shares of the company’s stock, valued at approximately $14,120,443.56. The trade was a 5.78 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.31% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Global Net Lease

Several hedge funds have recently bought and sold shares of the company. Geode Capital Management LLC raised its holdings in shares of Global Net Lease by 1.9% during the third quarter. Geode Capital Management LLC now owns 5,093,659 shares of the financial services provider’s stock worth $42,897,000 after acquiring an additional 95,769 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Global Net Lease by 4.3% in the 3rd 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 acquiring an additional 166,247 shares during the period. Bank of Montreal Can boosted its holdings in shares of Global Net Lease by 12,401.0% during the 2nd quarter. Bank of Montreal Can now owns 3,118,873 shares of the financial services provider’s stock worth $22,986,000 after buying an additional 3,093,924 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Global Net Lease by 0.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,607,268 shares of the financial services provider’s stock worth $11,813,000 after buying an additional 6,715 shares during the period. Finally, Advisors Asset Management Inc. boosted its holdings in Global Net Lease by 12.2% in 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 currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

GNL has been the subject of a number of recent analyst reports. B. Riley decreased 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. StockNews.com raised shares of Global Net Lease from a “sell” rating to a “hold” rating in a research report on Thursday, August 8th. Finally, Truist Financial cut 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 report on Friday. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $9.67.

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.