Short Interest in Global Net Lease, Inc. (NYSE:GNL) Rises By 16.2%
by Doug Wharley · The Cerbat GemGlobal Net Lease, Inc. (NYSE:GNL – Get Free Report) saw a large growth in short interest during the month of April. As of April 15th, there was short interest totaling 10,618,218 shares, a growth of 16.2% from the March 31st total of 9,138,084 shares. Currently, 5.0% of the company’s stock are sold short. Based on an average daily trading volume, of 1,591,117 shares, the short-interest ratio is presently 6.7 days.
Wall Street Analysts Forecast Growth
Several research firms recently weighed in on GNL. Wall Street Zen downgraded Global Net Lease from a “buy” rating to a “hold” rating in a research note on Saturday, March 28th. Citizens Jmp upped their price target on Global Net Lease from $9.00 to $10.00 and gave the stock a “market outperform” rating in a research note on Monday, January 12th. BMO Capital Markets downgraded Global Net Lease from an “outperform” rating to a “market perform” rating and set a $10.00 price target on the stock. in a research note on Friday, April 17th. Cantor Fitzgerald raised Global Net Lease to a “strong-buy” rating in a research report on Wednesday, February 4th. Finally, Citigroup reaffirmed an “outperform” rating on shares of Global Net Lease in a research report on Monday, January 12th. One equities 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, the stock has an average rating of “Buy” and an average price target of $10.40.
Check Out Our Latest Research Report on Global Net Lease
Institutional Investors Weigh In On Global Net Lease
A number of hedge funds have recently added to or reduced their stakes in the stock. Lloyd Advisory Services LLC. purchased a new stake in shares of Global Net Lease in the 4th quarter worth $28,000. Eastern Bank purchased a new stake in Global Net Lease in the 3rd quarter worth $33,000. Aventura Private Wealth LLC purchased a new stake in Global Net Lease in the 4th quarter worth $44,000. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Global Net Lease by 147.0% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 5,517 shares of the financial services provider’s stock valued at $47,000 after purchasing an additional 3,283 shares during the last quarter. Finally, Ameriflex Group Inc. boosted its holdings in shares of Global Net Lease by 43.3% during the 4th quarter. Ameriflex Group Inc. now owns 5,825 shares of the financial services provider’s stock valued at $50,000 after purchasing an additional 1,761 shares during the last quarter. 61.19% of the stock is currently owned by hedge funds and other institutional investors.
Global Net Lease Stock Down 0.2%
GNL stock traded down $0.02 during midday trading on Friday, hitting $9.55. The company’s stock had a trading volume of 1,009,479 shares, compared to its average volume of 1,298,089. The company has a market cap of $2.03 billion, a PE ratio of -8.02 and a beta of 1.09. Global Net Lease has a 12 month low of $6.77 and a 12 month high of $10.04. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.19. The firm’s 50-day moving average is $9.47 and its 200-day moving average is $8.87.
Global Net Lease Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, April 17th. Shareholders 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 dividend on an annualized basis and a yield of 8.0%. Global Net Lease’s payout ratio is currently -63.87%.
Global Net Lease Company Profile
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.