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

Global Net Lease, Inc. (NYSE:GNL) saw a significant decrease in short interest in March. As of March 31st, there was short interest totalling 774,900 shares, a decrease of 20.9% from the March 15th total of 979,300 shares. Based on an average trading volume of 603,600 shares, the days-to-cover ratio is currently 1.3 days.

GNL traded down $0.09 during trading on Monday, reaching $18.77. The stock had a trading volume of 489,657 shares, compared to its average volume of 606,351. Global Net Lease has a one year low of $11.85 and a one year high of $19.34. The company has a current ratio of 0.21, a quick ratio of 0.21 and a debt-to-equity ratio of 0.43. The stock’s 50 day moving average is $18.45 and its two-hundred day moving average is $17.13. The company has a market capitalization of $1.70 billion, a price-to-earnings ratio of 125.73 and a beta of 1.22.

Global Net Lease (NYSE:GNL) last issued its quarterly earnings results on Wednesday, February 24th. The financial services provider reported ($0.15) earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.58). Global Net Lease had a net margin of 10.07% and a return on equity of 1.97%. On average, equities research analysts predict that Global Net Lease will post 1.69 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, April 15th. Stockholders of record on Monday, April 12th were issued a dividend of $0.40 per share. The ex-dividend date was Friday, April 9th. This represents a $1.60 annualized dividend and a dividend yield of 8.52%. Global Net Lease’s payout ratio is presently 86.49%.

Large investors have recently modified their holdings of the company. US Bancorp DE increased its holdings in shares of Global Net Lease by 76.1% during the fourth quarter. US Bancorp DE now owns 1,560 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 674 shares in the last quarter. Harvest Fund Management Co. Ltd bought a new position in shares of Global Net Lease during the fourth quarter valued at $29,000. Van ECK Associates Corp increased its holdings in shares of Global Net Lease by 33.2% during the fourth quarter. Van ECK Associates Corp now owns 3,622 shares of the financial services provider’s stock valued at $62,000 after acquiring an additional 903 shares in the last quarter. Veriti Management LLC purchased a new stake in shares of Global Net Lease during the fourth quarter valued at $65,000. Finally, Accel Wealth Management purchased a new stake in shares of Global Net Lease during the fourth quarter valued at $73,000. Hedge funds and other institutional investors own 64.78% of the company’s stock.

A number of brokerages recently commented on GNL. Zacks Investment Research upgraded Global Net Lease from a “hold” rating to a “buy” rating and set a $20.00 target price for the company in a report on Friday, March 5th. B. Riley reiterated a “buy” rating and issued a $23.00 price objective (up previously from $21.00) on shares of Global Net Lease in a report on Monday, March 1st. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Global Net Lease currently has a consensus rating of “Buy” and an average price target of $20.88.

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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