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

Global Net Lease, Inc. (NYSE:GNL) was the recipient of a large increase in short interest in April. As of April 15th, there was short interest totaling 10,618,218 shares, an increase of 16.2% from the March 31st total of 9,138,084 shares. Based on an average daily volume of 1,591,117 shares, the days-to-cover ratio is currently 6.7 days. Currently, 5.0% of the company’s stock are sold short.

Wall Street Analyst Weigh In

Several research firms have issued reports on GNL. Citizens Jmp lifted their price objective on Global Net Lease from $9.00 to $10.00 and gave the stock a “market outperform” rating in a report on Monday, January 12th. BMO Capital Markets downgraded shares of Global Net Lease from an “outperform” rating to a “market perform” rating and set a $10.00 price target for the company. in a research report on Friday, April 17th. Wall Street Zen lowered shares of Global Net Lease from a “buy” rating to a “hold” rating in a research note on Saturday, March 28th. Cantor Fitzgerald raised shares of Global Net Lease to a “strong-buy” rating in a report on Wednesday, February 4th. Finally, Citigroup reiterated an “outperform” rating on shares of Global Net Lease in a research note on Monday, January 12th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, Global Net Lease has a consensus rating of “Buy” and a consensus target price of $10.40.

Global Net Lease Stock Performance

Shares of GNL stock traded down $0.02 on Friday, hitting $9.55. 1,009,479 shares of the stock traded hands, compared to its average volume of 1,298,089. The company’s fifty day moving average is $9.47 and its 200 day moving average is $8.87. Global Net Lease has a 1-year low of $6.77 and a 1-year high of $10.04. The company has a market capitalization of $2.03 billion, a PE ratio of -8.02 and a beta of 1.09. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.09 and a quick ratio of 0.09.

Global Net Lease Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 17th. Investors of record on Monday, April 13th were paid a dividend of $0.19 per share. The ex-dividend date was Monday, April 13th. This represents a $0.76 annualized dividend and a yield of 8.0%. Global Net Lease’s dividend payout ratio is -63.87%.

Hedge Funds Weigh In On Global Net Lease

A number of hedge funds and other institutional investors have recently bought and sold shares of GNL. Sound Income Strategies LLC raised its position in shares of Global Net Lease by 18.4% during the 4th quarter. Sound Income Strategies LLC now owns 7,971 shares of the financial services provider’s stock worth $75,000 after purchasing an additional 1,239 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in Global Net Lease by 31.4% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,913 shares of the financial services provider’s stock valued at $51,000 after purchasing an additional 1,412 shares during the period. BTC Capital Management Inc. boosted its position in Global Net Lease by 1.6% during the 4th quarter. BTC Capital Management Inc. now owns 94,574 shares of the financial services provider’s stock valued at $814,000 after purchasing an additional 1,482 shares during the period. Arrow Investment Advisors LLC grew its stake in Global Net Lease by 5.7% during the 4th quarter. Arrow Investment Advisors LLC now owns 27,969 shares of the financial services provider’s stock worth $241,000 after buying an additional 1,518 shares during the last quarter. Finally, Essex Financial Services Inc. increased its position in Global Net Lease by 9.6% in the first quarter. Essex Financial Services Inc. now owns 18,005 shares of the financial services provider’s stock worth $169,000 after buying an additional 1,577 shares during the period. 61.19% of the stock is currently owned by institutional investors and hedge funds.

About Global Net Lease

Global Net Lease (NYSE: GNL) is a real estate investment trust (REIT) that focuses on acquiring and managing a diversified portfolio of single-tenant, net-lease commercial properties. The company’s business model centers on establishing long-term, triple-net leases with creditworthy tenants, enabling the pass-through of property operating expenses while aiming to provide predictable rental income and stable cash flows. Global Net Lease’s portfolio spans retail, industrial, office and light-industrial assets, each selected for its strategic location and tenant credit quality.

Since launching its initial public offering in April 2016, Global Net Lease has built a presence in key markets throughout the United States and Western Europe.