Global Net Lease Inc (NYSE:GNL) was the recipient of a significant growth in short interest during the month of August. As of August 31st, there was short interest totalling 1,300,000 shares, a growth of 19.3% from the August 15th total of 1,090,000 shares. Based on an average daily trading volume, of 467,000 shares, the short-interest ratio is currently 2.8 days.
Shares of GNL traded down $0.03 during mid-day trading on Wednesday, hitting $17.38. The company’s stock had a trading volume of 485,053 shares, compared to its average volume of 614,070. Global Net Lease has a one year low of $8.77 and a one year high of $21.71. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.24 and a current ratio of 0.24. The firm has a market capitalization of $1.56 billion, a PE ratio of 72.42 and a beta of 1.07. The stock’s 50-day moving average is $17.41 and its two-hundred day moving average is $15.58.
Global Net Lease (NYSE:GNL) last posted its quarterly earnings data on Wednesday, August 5th. The financial services provider reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.01). Global Net Lease had a net margin of 12.06% and a return on equity of 2.30%. Analysts expect that Global Net Lease will post 1.65 EPS for the current fiscal year.
A number of research firms recently commented on GNL. JMP Securities began coverage on Global Net Lease in a report on Monday, June 8th. They issued a “market perform” rating on the stock. Berenberg Bank began coverage on Global Net Lease in a report on Tuesday, June 30th. They set a “buy” rating and a $22.00 price target on the stock. Finally, Zacks Investment Research downgraded Global Net Lease from a “hold” rating to a “strong sell” rating in a report on Wednesday, August 12th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company’s stock. Global Net Lease currently has an average rating of “Hold” and a consensus price target of $21.10.
A number of hedge funds have recently modified their holdings of GNL. State Street Corp lifted its position in Global Net Lease by 15.0% in the first quarter. State Street Corp now owns 4,147,449 shares of the financial services provider’s stock worth $55,451,000 after purchasing an additional 542,133 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Global Net Lease by 63.9% in the second quarter. Charles Schwab Investment Management Inc. now owns 1,190,074 shares of the financial services provider’s stock worth $19,910,000 after purchasing an additional 464,073 shares during the period. Advisor Group Holdings Inc. bought a new position in Global Net Lease in the first quarter worth $4,629,000. Nuveen Asset Management LLC lifted its position in Global Net Lease by 24.1% in the first quarter. Nuveen Asset Management LLC now owns 886,206 shares of the financial services provider’s stock worth $11,848,000 after purchasing an additional 171,823 shares during the period. Finally, Canada Pension Plan Investment Board bought a new position in Global Net Lease in the first quarter worth $1,939,000. 65.80% of the stock is owned by hedge funds and other institutional investors.
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.
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