Short Interest in Global Net Lease, Inc. (NYSE:GNL) Expands By 7.1%

Global Net Lease, Inc. (NYSE:GNL) was the recipient of a significant increase in short interest in March. As of March 31st, there was short interest totalling 8,600,000 shares, an increase of 7.1% from the March 15th total of 8,030,000 shares. Based on an average daily volume of 1,640,000 shares, the days-to-cover ratio is presently 5.2 days.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on GNL. BMO Capital Markets assumed coverage on Global Net Lease in a report on Tuesday, February 13th. They issued an “outperform” rating and a $11.00 target price for the company. BTIG Research lowered shares of Global Net Lease from a “buy” rating to a “neutral” rating in a report on Friday, March 8th. Finally, Truist Financial initiated coverage on shares of Global Net Lease in a report on Thursday, March 28th. They set a “hold” rating and a $7.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, Global Net Lease presently has a consensus rating of “Hold” and a consensus target price of $12.00.

Global Net Lease Stock Performance

GNL stock opened at $6.58 on Thursday. Global Net Lease has a twelve month low of $6.52 and a twelve month high of $11.73. The firm has a market cap of $1.52 billion, a price-to-earnings ratio of -3.80, a PEG ratio of 0.87 and a beta of 1.34. The business’s fifty day simple moving average is $7.49 and its two-hundred day simple moving average is $8.38. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.66.

Global Net Lease Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 16th. Investors of record on Thursday, April 11th were paid a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 16.72%. The ex-dividend date of this dividend was Wednesday, April 10th. This is an increase from Global Net Lease’s previous quarterly dividend of $0.06. Global Net Lease’s dividend payout ratio (DPR) is currently -63.58%.

Insider Activity at Global Net Lease

In related news, major shareholder Nicholas S. Schorsch sold 176,577 shares of the company’s stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $9.04, for a total transaction of $1,596,256.08. Following the sale, the insider now owns 4,078,465 shares of the company’s stock, valued at $36,869,323.60. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, major shareholder Nicholas S. Schorsch sold 176,577 shares of the business’s stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $9.04, for a total value of $1,596,256.08. Following the sale, the insider now directly owns 4,078,465 shares in the company, valued at approximately $36,869,323.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Nicholas S. Schorsch sold 150,000 shares of the company’s stock in a transaction dated Friday, January 19th. The shares were sold at an average price of $8.90, for a total transaction of $1,335,000.00. Following the sale, the insider now owns 4,255,042 shares in the company, valued at $37,869,873.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 351,414 shares of company stock valued at $3,154,305. 0.22% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Global Net Lease

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GNL. Raymond James & Associates increased its position in shares of Global Net Lease by 11.8% during the first quarter. Raymond James & Associates now owns 74,749 shares of the financial services provider’s stock worth $1,176,000 after acquiring an additional 7,886 shares during the period. Bank of New York Mellon Corp increased its holdings in Global Net Lease by 4.5% during the 1st quarter. Bank of New York Mellon Corp now owns 1,145,077 shares of the financial services provider’s stock worth $18,013,000 after purchasing an additional 48,896 shares during the period. Bank of Montreal Can raised its position in Global Net Lease by 5.3% during the 1st quarter. Bank of Montreal Can now owns 31,150 shares of the financial services provider’s stock valued at $491,000 after purchasing an additional 1,581 shares in the last quarter. MetLife Investment Management LLC lifted its holdings in shares of Global Net Lease by 57.8% in the 1st quarter. MetLife Investment Management LLC now owns 54,350 shares of the financial services provider’s stock worth $855,000 after buying an additional 19,899 shares during the period. Finally, Rhumbline Advisers lifted its holdings in shares of Global Net Lease by 1.6% in the 1st quarter. Rhumbline Advisers now owns 317,198 shares of the financial services provider’s stock worth $4,990,000 after buying an additional 5,102 shares during the period. Institutional investors own 61.19% of the company’s stock.

About Global Net Lease

Global Net Lease, Inc (NYSE: GNL) is a publicly traded real estate investment trust listed on the NYSE 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.