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.
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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