Short interest in Global Net Lease, Inc. (NYSE: GNL) increases 28.7%
Global Net Lease, Inc. (NYSE: GNL) benefited from a significant increase in short interest in May. As of May 14, there was short interest totaling 1,100,000 shares, an increase of 28.7% from the total of 854,400 shares as of April 29. Based on an average daily volume of 592,500 shares, the day-to-coverage ratio is currently 1.9 days.
LNG has been the subject of several research reports. B. Riley reissued a “buy” note and set a target price of $ 23.00 (up from 21.00 previously) for Global Net Lease shares in a report released on Monday March 1. Zacks investment research demoted Global Net Lease from a “hold” rating to a “strong sell” rating in a research note on Wednesday, May 19.
NYSE LNG open for $ 19.54 Tuesday. The company has a market cap of $ 1.86 billion, a P / E ratio of 10.92 and a beta of 1.21. The company has a fifty-day simple moving average of $ 19.00 and a 200-day simple moving average of $ 17.90. Global Net Lease has a 12 month low of $ 13.66 and a 12 month high of $ 19.59. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt ratio of 0.25.
Global Net Lease (NYSE: GNL) last reported its quarterly results on Thursday, May 6. The financial services provider reported earnings per share (EPS) of ($ 0.01) for the quarter, missing analyst consensus estimates of $ 0.47 per ($ 0.48). Global Net Lease had a net margin of 1.58% and a return on equity of 0.34%. As a group, sell-side analysts predict that Global Net Lease will post 1.79 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, April 15. Shareholders of record on Monday April 12 received a dividend of $ 0.40. The ex-dividend date of this dividend was Friday April 9. This represents an annualized dividend of $ 1.60 and a dividend yield of 8.19%. Global Net Lease’s payout ratio is currently 89.39%.
Hedge funds and other institutional investors recently changed their positions in the stock. Mirae Asset Global Investments Co. Ltd. increased its position in Global Net Lease shares by 4,677.1% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,312,752 shares of the financial services provider valued at $ 23,709,000 after purchasing an additional 1,285,272 shares in the last quarter. Norges Bank bought a new position in Global Net Lease shares in the fourth quarter valued at $ 19,769,000. BlackRock Inc. increased its stake in Global Net Lease shares by 5.9% in the first quarter. BlackRock Inc. now owns 16,324,936 shares of the financial services provider valued at $ 294,827,000 after purchasing an additional 915,333 shares during the last quarter. Telemus Capital LLC purchased a new position in shares of Global Net Lease in the first quarter valued at $ 13,889,000. Finally, Millennium Management LLC increased its position in Global Net Lease by 1,365.0% during the first quarter. Millennium Management LLC now owns 416,223 shares of the financial services provider valued at $ 7,517,000 after acquiring an additional 387,812 shares during the last quarter. 66.82% of the shares are currently held by institutional investors.
About Global Net Lease
Global Net Lease, Inc (NYSE: GNL) is a NYSE-listed real estate investment trust that focuses on acquiring a diversified global portfolio of commercial properties, with an emphasis on sale and leaseback transactions involving one tenant, mission critical income producing – leased assets across the United States, Western and Northern Europe.
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