Global Net Lease, Inc. (NYSE:GNL) Short Interest Up 44.7% in April

Global Net Lease, Inc. (NYSE:GNL - Get Free Report) was the recipient of a large increase in short interest in the month of April. As of April 15th, there was short interest totalling 12,440,000 shares, an increase of 44.7% from the March 31st total of 8,600,000 shares. Based on an average daily volume of 1,640,000 shares, the days-to-cover ratio is currently 7.6 days.

Hedge Funds Weigh In On Global Net Lease

Large investors have recently modified their holdings of the business. Vanguard Group Inc. increased its stake in Global Net Lease by 83.8% in the 3rd quarter. Vanguard Group Inc. now owns 30,770,077 shares of the financial services provider's stock valued at $295,700,000 after purchasing an additional 14,033,117 shares in the last quarter. Citigroup Inc. increased its stake in Global Net Lease by 69.2% in the 3rd quarter. Citigroup Inc. now owns 160,515 shares of the financial services provider's stock valued at $1,543,000 after purchasing an additional 65,620 shares in the last quarter. Northern Trust Corp grew its holdings in Global Net Lease by 83.8% during the 3rd quarter. Northern Trust Corp now owns 2,217,620 shares of the financial services provider's stock valued at $21,311,000 after buying an additional 1,011,160 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Global Net Lease by 93.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,497,508 shares of the financial services provider's stock valued at $33,611,000 after buying an additional 1,686,201 shares during the last quarter. Finally, Deutsche Bank AG grew its holdings in Global Net Lease by 142.1% during the 3rd quarter. Deutsche Bank AG now owns 216,084 shares of the financial services provider's stock valued at $2,077,000 after buying an additional 126,837 shares during the last quarter. 61.19% of the stock is owned by hedge funds and other institutional investors.

Global Net Lease Stock Performance

Shares of GNL stock traded down $0.01 during trading hours on Friday, reaching $6.91. 1,448,365 shares of the company's stock were exchanged, compared to its average volume of 1,562,200. The company has a market cap of $1.60 billion, a P/E ratio of -3.99, a price-to-earnings-growth ratio of 0.89 and a beta of 1.34. The company's 50 day moving average is $7.31 and its two-hundred day moving average is $8.29. Global Net Lease has a 1 year low of $6.52 and a 1 year high of $11.58. 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 Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 16th. Stockholders of record on Thursday, April 11th were paid a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 15.92%. This is an increase from Global Net Lease's previous quarterly dividend of $0.06. The ex-dividend date was Wednesday, April 10th. Global Net Lease's dividend payout ratio is -63.58%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Truist Financial began coverage on Global Net Lease in a research report on Thursday, March 28th. They issued a "hold" rating and a $7.00 target price for the company. JMP Securities reaffirmed a "market perform" rating on shares of Global Net Lease in a research note on Thursday, April 18th. BTIG Research downgraded Global Net Lease from a "buy" rating to a "neutral" rating in a research note on Friday, March 8th. Finally, BMO Capital Markets began coverage on Global Net Lease in a research note on Tuesday, February 13th. They set an "outperform" rating and a $11.00 price objective for the company. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $12.00.

Global Net Lease Company Profile

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.