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

Global Net Lease, Inc. (NYSE:GNL) saw a large increase in short interest in the month of 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 trading volume of 1,640,000 shares, the short-interest ratio is currently 5.2 days.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Truist Financial started coverage on Global Net Lease in a research note on Thursday, March 28th. They issued a “hold” rating and a $7.00 price objective for the company. BTIG Research cut shares of Global Net Lease from a “buy” rating to a “neutral” rating in a research report on Friday, March 8th. Finally, BMO Capital Markets started coverage on shares of Global Net Lease in a research note on Tuesday, February 13th. They set an “outperform” rating and a $11.00 price target for the company. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $12.00.

Insider Transactions at Global Net Lease

In other Global Net Lease news, major shareholder Nicholas S. Schorsch sold 176,577 shares of the firm’s stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $9.04, for a total value of $1,596,256.08. Following the sale, the insider now owns 4,078,465 shares of the company’s stock, valued at approximately $36,869,323.60. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, major shareholder Nicholas S. Schorsch sold 150,000 shares of the business’s stock in a transaction on Friday, January 19th. The stock was 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 approximately $37,869,873.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Nicholas S. Schorsch sold 176,577 shares of the 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 completion of the transaction, the insider now owns 4,078,465 shares of the company’s stock, valued at $36,869,323.60. The disclosure for this sale can be found here. In the last 90 days, insiders sold 351,414 shares of company stock valued at $3,154,305. Company insiders own 0.22% of the company’s stock.

Hedge Funds Weigh In On Global Net Lease

A number of hedge funds have recently bought and sold shares of the company. Kingswood Wealth Advisors LLC acquired a new stake in Global Net Lease during the 1st quarter worth about $119,000. Sound Income Strategies LLC lifted its position in shares of Global Net Lease by 17.9% during the 1st quarter. Sound Income Strategies LLC now owns 1,022,526 shares of the financial services provider’s stock worth $7,945,000 after buying an additional 155,377 shares in the last quarter. BTC Capital Management Inc. purchased a new stake in Global Net Lease during the first quarter worth about $302,000. Newbridge Financial Services Group Inc. lifted its stake in Global Net Lease by 59.1% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 183,722 shares of the financial services provider’s stock valued at $1,828,000 after purchasing an additional 68,246 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of Global Net Lease by 10.3% during the 4th quarter. Vanguard Group Inc. now owns 33,932,387 shares of the financial services provider’s stock valued at $337,627,000 after buying an additional 3,162,310 shares during the last quarter. Institutional investors own 61.19% of the company’s stock.

Global Net Lease Stock Performance

Shares of GNL stock opened at $6.58 on Thursday. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.05 and a quick ratio of 0.05. Global Net Lease has a one year low of $6.52 and a one year high of $11.73. The business’s 50 day simple moving average is $7.49 and its 200 day simple moving average is $8.38. The stock has a market capitalization of $1.52 billion, a PE ratio of -3.80, a PEG ratio of 0.87 and a beta of 1.34.

Global Net Lease Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 16th. Stockholders of record on Thursday, April 11th were paid a $0.275 dividend. This is a positive change from Global Net Lease’s previous quarterly dividend of $0.06. This represents a $1.10 dividend on an annualized basis and a dividend yield of 16.72%. The ex-dividend date of this dividend was Wednesday, April 10th. Global Net Lease’s dividend payout ratio is currently -63.58%.

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.