Global Net Lease, Inc. (NYSE:GNL) Sees Large Increase in Short Interest

Global Net Lease, Inc. (NYSE:GNL) was the recipient of a large growth in short interest in March. As of March 31st, there was short interest totalling 8,600,000 shares, a growth 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 days-to-cover ratio is currently 5.2 days.

Analyst Ratings Changes

Several research firms have weighed in on GNL. BMO Capital Markets began coverage on shares of Global Net Lease in a research note on Tuesday, February 13th. They set 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 research report on Friday, March 8th. Finally, Truist Financial began coverage on shares of Global Net Lease in a research report on Thursday, March 28th. They set a “hold” rating and a $7.00 price target for the company. One analyst has rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $12.00.

Insider Buying and Selling at Global Net Lease

In related news, major shareholder Nicholas S. Schorsch sold 176,577 shares of the business’s stock in a transaction that occurred on 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 sale, the insider now directly owns 4,078,465 shares in the company, 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 related news, major shareholder Nicholas S. Schorsch sold 20,000 shares of Global Net Lease stock in a transaction on Wednesday, January 24th. The shares were sold at an average price of $9.00, for a total value of $180,000.00. Following the completion of the sale, the insider now owns 4,024,330 shares in the company, valued at $36,218,970. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Nicholas S. Schorsch sold 176,577 shares of Global Net Lease stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $9.04, for a total transaction of $1,596,256.08. Following the completion of the sale, the insider now owns 4,078,465 shares of the company’s stock, valued at approximately $36,869,323.60. The disclosure for this sale can be found here. In the last three months, insiders sold 351,414 shares of company stock worth $3,154,305. 0.22% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

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

Global Net Lease Stock Performance

GNL stock opened at $6.56 on Wednesday. The company has a market capitalization of $1.51 billion, a P/E ratio of -3.79, a PEG ratio of 0.87 and a beta of 1.34. The company has a 50-day simple moving average of $7.52 and a 200 day simple moving average of $8.39. Global Net Lease has a fifty-two week low of $6.52 and a fifty-two week high of $11.73. 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 firm also recently declared a quarterly dividend, which was paid on Tuesday, April 16th. Shareholders of record on Thursday, April 11th were issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 16.77%. This is an increase from Global Net Lease’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend was Wednesday, April 10th. Global Net Lease’s dividend payout ratio is presently -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.