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

Global Net Lease, Inc. (NYSE:GNLGet Free Report) was the target of a significant growth in short interest during the month of March. As of March 15th, there was short interest totalling 8,030,000 shares, a growth of 11.4% from the February 29th total of 7,210,000 shares. Based on an average trading volume of 1,610,000 shares, the days-to-cover ratio is presently 5.0 days.

Insider Activity at Global Net Lease

In other Global Net Lease news, major shareholder Nicholas S. Schorsch sold 150,000 shares of the company’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 completion of the sale, the insider now directly owns 4,255,042 shares in the company, valued at $37,869,873.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, major shareholder Nicholas S. Schorsch sold 4,837 shares of the stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $8.90, for a total value of $43,049.30. Following the completion of the transaction, the insider now owns 3,861,472 shares of the company’s stock, valued at $34,367,100.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Nicholas S. Schorsch sold 150,000 shares of Global Net Lease stock in a transaction that occurred on 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 directly owns 4,255,042 shares in the company, valued at $37,869,873.80. The disclosure for this sale can be found here. Insiders have sold 571,978 shares of company stock valued at $5,362,151 over the last three months. 0.22% of the stock is owned by insiders.

Institutional Trading of Global Net Lease

Several institutional investors and hedge funds have recently modified their holdings of the stock. Toroso Investments LLC boosted its position in shares of Global Net Lease by 5.9% during the fourth quarter. Toroso Investments LLC now owns 15,823 shares of the financial services provider’s stock valued at $199,000 after buying an additional 879 shares during the last quarter. LPL Financial LLC lifted its stake in Global Net Lease by 1.2% during the 2nd quarter. LPL Financial LLC now owns 80,748 shares of the financial services provider’s stock valued at $1,143,000 after acquiring an additional 982 shares in the last quarter. Great West Life Assurance Co. Can lifted its stake in Global Net Lease by 0.5% during the 1st quarter. Great West Life Assurance Co. Can now owns 199,399 shares of the financial services provider’s stock valued at $2,563,000 after acquiring an additional 994 shares in the last quarter. Harbour Investments Inc. boosted its holdings in Global Net Lease by 5.3% during the 2nd quarter. Harbour Investments Inc. now owns 20,156 shares of the financial services provider’s stock worth $207,000 after acquiring an additional 1,015 shares during the last quarter. Finally, Cetera Investment Advisers grew its stake in shares of Global Net Lease by 3.0% in the 1st quarter. Cetera Investment Advisers now owns 36,037 shares of the financial services provider’s stock worth $567,000 after acquiring an additional 1,047 shares in the last quarter. 61.19% of the stock is owned by hedge funds and other institutional investors.

Global Net Lease Trading Down 4.2 %

NYSE:GNL opened at $7.36 on Wednesday. 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 $6.83 and a one year high of $13.10. The company has a market cap of $1.69 billion, a PE ratio of -4.25, a PEG ratio of 1.00 and a beta of 1.34. The firm has a 50-day moving average of $7.81 and a 200-day moving average of $8.59.

Global Net Lease Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 16th. Shareholders of record on Thursday, April 11th will be issued a dividend of $0.275 per share. 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 yield of 14.96%. The ex-dividend date is Wednesday, April 10th. Global Net Lease’s payout ratio is currently -82.08%.

Analysts Set New Price Targets

Several analysts recently weighed in on GNL shares. BMO Capital Markets assumed coverage on shares of Global Net Lease in a research note on Tuesday, February 13th. They issued an “outperform” rating and a $11.00 price objective on the stock. BTIG Research lowered Global Net Lease from a “buy” rating to a “neutral” rating in a research report on Friday, March 8th. Finally, Truist Financial initiated 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 objective for the company. One research 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 MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $12.00.

View Our Latest Research Report on GNL

About Global Net Lease

(Get Free Report)

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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