Global Net Lease

Global Net Lease, Inc. engages in the as a real estate investment services. It is focuses 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 U.S., Western, and Northern Europe. The company was founded on July 13, 2011 and is headquartered in New York, NY.

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Global Net Lease (GNL) excels in 2022, faces financing challenges

Global Net Lease (GNL) delivered a strong financial performance in 2022, driven by high occupancy rates, successful lease renewals, and strategic acquisitions.
While facing challenges from rising interest rates and market uncertainties, GNL's focus on industrial properties and financial stability positions it well for future growth.
To capitalize on opportunities, GNL should continue its strategic approach to property investments, lease management, and financial planning.

Global Net Lease (GNL) reports strong Q1 performance and strategic acquisitions

Global Net Lease (GNL) demonstrated strong operational performance in Q1 2023 with a focus on acquisitions and leasing activities.
Despite facing a net loss, the company's high portfolio occupancy and dividend distribution reflect its commitment to shareholder value.
GNL's strategic approach to acquisitions and renewals positions it well for future growth and value creation.

Global Net Lease (GNL) reports robust Q2 earnings and strategic portfolio moves

Global Net Lease (GNL) delivered a solid performance in Q2 2023, driven by strong leasing activity and high occupancy levels across its portfolio.
With a focus on quality tenants and strategic portfolio optimization, GNL showcased resilience and positioned itself for future growth opportunities.
While facing integration challenges from the proposed merger and operational hurdles, GNL's emphasis on stability and value creation underpins its long-term prospects.

Global Net Lease (GNL) reports mixed Q3 results, eyes growth opportunities

Global Net Lease (GNL) delivered mixed financial results in Q3 2023, with strong revenue but a net loss. Despite challenges in occupancy optimization, the company remains focused on reducing debt, increasing NOI, and pursuing growth opportunities.

Global Net Lease (GNL) focuses on deleveraging and maximizing value

Global Net Lease (GNL) is strategically positioned to execute its 2024 plan, emphasizing leverage reduction and shareholder value maximization.
The company's strong asset management capabilities and focus on quality tenants provide a solid foundation for financial performance.
GNL faces challenges in debt management and market dynamics but has opportunities to drive value through strategic dispositions and debt reduction.

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Global Net Lease, Inc. is involved in real estate investment, acquiring a diversified global portfolio of commercial properties. It operates through the following segments: Industrial and Distribution, Multi-Tenant Retail, Single-Tenant Retail, and Office. The company was founded on July 13, 2011, and is headquartered in New York, NY.

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Global Net Lease, Inc. (NYSE:GNL ) Q3 2024 Earnings Conference Call November 7, 2024 11:00 AM ET Company Participants Jordyn Schoenfeld - CPA Michael Weil - CEO Chris Masterson - CFO Conference Call Participants John Kim - BMO Capital Markets Upal Rana - KeyBanc Capital Markets Bryan Maher - B. Riley Securities Mitch Germain - Citizens JMP Michael Gorman - BTG Pactual Barry Oxford - Colliers Operator Welcome to the Global Net Lease, Inc. Third Quarter 2024 Earnings Conference Call.

Global Net Lease, Inc. (GNL) Q3 2024 Earnings Call Transcript

Global Net Lease (GNL) came out with quarterly funds from operations (FFO) of $0.32 per share, missing the Zacks Consensus Estimate of $0.33 per share. This compares to FFO of $0.36 per share a year ago.

Global Net Lease (GNL) Q3 FFO and Revenues Lag Estimates

-  Closed Plus Disposition Pipeline Totaled $950 Million at a Cash Cap Rate of 7.1% -  Achieved $85 Million in Cost Synergies, Significantly Exceeding Initial Projection of $75 Million -  Reduced Net Debt by $445 Million Year-to-Date; Net Debt to Adjusted EBITDA Improves to 8.0x -  $371 Million Disposition Pipeline Will Further Reduce Outstanding Debt -  Increased Portfolio Occupancy from 94% to 96% Quarter-Over-Quarter -  GNL Reaffirms its Full-Year 2024 Guidance NEW YORK, Nov. 06, 2024 (GLOBE NEWSWIRE) -- Global Net Lease, Inc. (NYSE: GNL) (“GNL” or the “Company”), an internally managed real estate investment trust that focuses on acquiring and managing a globally diversified portfolio of strategically located commercial real estate properties, announced today its financial and operating results for the quarter ended September 30, 2024. Third Quarter 2024 Highlights Revenue was $196.6 million compared to $203.3 million in second quarter 2024, primarily as a result of asset dispositions during the third quarter Net loss attributable to common stockholders was $76.6 million, compared to net loss of $46.6 million in second quarter 2024 Core Funds from Operations (“Core FFO”) was $53.9 million compared to $50.9 million in second quarter 2024 Adjusted Funds from Operations (“AFFO”) was $73.9 million, or $0.32 per share, compared to $76.7 million in second quarter 2024, or $0.33 per share Closed plus disposition pipeline totaled $950.2 million2 at a cash cap rate of 7.1% on occupied assets and a weighted average remaining lease term of 5.1 years; includes $187.5 million of vacant closed plus pipeline dispositions that are expected to reduce annualized operating expenses by over $3 million per year Closed $568.7 million of dispositions through third quarter 2024; plan to use the net proceeds from $371.4 million disposition pipeline to further reduce leverage, keeping us on track with our guidance Reduced net debt by $445 million so far this year, improving Net Debt to Adjusted EBITDA from 8.4x to 8.0x Addressed 100% of the outstanding debt that was set to mature in 2024; no debt maturities through third quarter 2025 Recognized $85 million in cost synergies, significantly surpassing the anticipated $75 million projected at the close of the Merger, underscoring the effectiveness of GNL's integration efforts and highlighting its strong execution capabilities Leased 1.2 million square feet across the portfolio, resulting in nearly $16 million of new straight-line rent Renewal leasing spread of 4.2% with a weighted average lease term of 5.2 years; new leases completed in the quarter had a weighted average lease term of 6.5 years Weighted average annual rent increase of 1.3% provides organic rental growth, excluding 15.3% of the portfolio with CPI-linked leases that have historically experienced significantly higher rental increase Sector-leading 61% of annualized straight-line rent comes from investment-grade or implied investment-grade tenants3 “The third quarter was another successful period for GNL that showcased our steady progress toward achieving key financial objectives established at the beginning of the year,” stated Michael Weil, CEO of GNL.

Global Net Lease Reports Third Quarter 2024 Results

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NEW YORK, Oct. 15, 2024 (GLOBE NEWSWIRE) -- Global Net Lease, Inc. (NYSE: GNL) (“GNL” or the “Company”) announced today that it will release its financial results for the third quarter ended September 30, 2024 on Wednesday, November 6, 2024 after the close of trading on the New York Stock Exchange. The Company will host a conference call and audio webcast on Thursday, November 7, 2024, beginning at 11:00 a.m.

Global Net Lease Announces Release Date for Third Quarter 2024 Results

NEW YORK, Oct. 09, 2024 (GLOBE NEWSWIRE) -- Global Net Lease, Inc. (NYSE: GNL) (“GNL” or the “Company”) today announced continued progress on its 2024 strategic disposition plan. Through Q3 2024, GNL has closed nearly $569 million of dispositions, and, including its pipeline, dispositions total $870 million1.

Global Net Lease Completes $569 Million of Dispositions Through Third Quarter of 2024

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Healthcare Realty Trust, Global Net Lease, and Gladstone Commercial are REITs to avoid due to poor dividend growth and high payout ratios. HR's dividend history is weak with a payout ratio of 111%, indicating a potential future cut; recent executive changes add uncertainty. GNL's dividend history is negative, with a -8% CAGR; its high equity yield of 16% makes quality acquisitions difficult.

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NEWPORT, R.I.--(BUSINESS WIRE)--Bellevue Capital Partners, one of the largest shareholders of Global Net Lease, Inc. (NYSE: GNL), is pleased to announce the acquisition of an additional 100,000 shares of GNL. This strategic investment underscores Bellevue Capital Partners' confidence in the company's management and its ongoing commitment to maximizing shareholder value. Bellevue Capital Partners is pleased with GNL's recent communications regarding its strategic disposition plan, which includes.

Bellevue Capital Partners Acquires Additional 100,000 Shares of Global Net Lease, Inc. (GNL)

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NEW YORK, Oct. 01, 2024 (GLOBE NEWSWIRE) -- Global Net Lease, Inc. (“GNL” or the “Company”) (NYSE: GNL / GNL PRA / GNL PRB / GNL PRD / GNL PRE) announced today that it declared a dividend of $0.275 per share of common stock payable on October 16, 2024, to common stockholders of record at the close of business on October 11, 2024. Dividends authorized by the Company's board of directors and declared by the Company are paid on a quarterly basis in arrears during the first month following the end of each fiscal quarter (unless otherwise specified) to common stockholders of record on the record date for such payment.

Global Net Lease, Inc. Announces Common Stock Dividend for the Fourth Quarter 2024

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NEW YORK, Sept. 19, 2024 (GLOBE NEWSWIRE) -- Global Net Lease, Inc. (“GNL” or the “Company”) (NYSE: GNL/ GNL PRA / GNL PRB / GNL PRD / GNL PRE) announced today that it declared quarterly dividends on its outstanding preferred stock. Specifically, GNL declared (i) a dividend of $0.453125 per share on its 7.25% Series A Cumulative Redeemable Preferred Stock (“Series A Preferred Stock”), payable on October 15, 2024, to holders of record of shares of its Series A Preferred Stock at the close of business on October 4, 2024, (ii) a dividend of $0.4296875 per share on its 6.875% Series B Cumulative Redeemable Perpetual Preferred Stock (“Series B Preferred Stock”) payable on October 15, 2024 to holders of record of shares of its Series B Preferred Stock at the close of business on October 4, 2024, (iii) a dividend of $0.46875 per share on its 7.50% Series D Cumulative Redeemable Perpetual Preferred Stock (“Series D Preferred Stock”) payable on October 15, 2024 to holders of record of shares of its Series D Preferred Stock at the close of business on October 4, 2024, and (iv) a dividend of $0.4609375 per share on its 7.375% Series E Cumulative Redeemable Perpetual Preferred Stock (“Series E Preferred Stock”) payable on October 15, 2024 to holders of record of shares of its Series E Preferred Stock at the close of business on October 4, 2024.

Global Net Lease, Inc. Announces Preferred Stock Dividends

Dispositions Closed or Under Agreement Now Total $854 Million at a Cash Cap Rate of 7.2% Dispositions Closed or Under Agreement Now Total $854 Million at a Cash Cap Rate of 7.2%

Global Net Lease Continues Momentum of Strategic Disposition Initiative With Sales of the Plant Shopping Center and Foster Wheeler Office

Global Net Lease has seen positive price action in the last 6 months, but long-term trends show negative total returns since inception. The Q2 2024 announcement highlighted some positive trends in getting the balance sheet back into balance. Our definition of AFFO does not come close to covering the dividend, and there will be trouble if credit spreads spike.

Global Net Lease: The New Dividend Already Looks In Trouble

Global Net Lease preferred shares provide reliable income. Balance sheet concerns are being addressed. FFO and AFFO calculations show strong coverage for preferred dividends. Asset sale program and high-quality tenants support the investment thesis for Global Net Lease preferred shares.

Global Net Lease: I'm Sticking With The 8.5% Yielding Preferred Shares

Global Net Lease manages industrial, retail, and office net lease properties, primarily in the United States. The shares have underperformed the Vanguard Real Estate Index Fund ETF so far in 2024. Q2 2024 results showed improving occupancy but stable AFFO on continuing asset disposals.

Global Net Lease: Rising Occupancy And Levered Capital Structure To Drive Outperformance

Global Net Lease Inc. (NYSE:GNL ) Q2 2024 Earnings Conference Call August 7, 2024 11:00 AM ET Company Participants Jordyn Schoenfeld - CPA Michael Weil - Chief Executive Officer Chris Masterson - Chief Financial Officer Conference Call Participants John Kim - BMO Capital Markets Bryan Maher - B. Riley Securities Upal Rana - KeyBanc Capital Markets Mitch Germain - Citizens JMP Operator Greetings.

Global Net Lease Inc. (GNL) Q2 2024 Earnings Call Transcript

Global Net Lease (GNL) came out with quarterly funds from operations (FFO) of $0.33 per share, in line with the Zacks Consensus Estimate. This compares to FFO of $0.40 per share a year ago.

Global Net Lease (GNL) Q2 FFO Match Estimates

— Increased AFFO Per Share by 2% While Reducing Outstanding Debt By $251 Million, Improving Net Debt to Adjusted EBITDA from 8.4x to 8.1x

Global Net Lease Reports Second Quarter 2024 Results

News for Global Net Lease Stock (GNL)