Global Net Lease, Inc. - GNL STOCK NEWS

Global Net Lease (GNL) has announced significant progress in its strategic disposition plan, with $620 million in closed dispositions through December 9, 2024. Combined with its pipeline of potential asset sales, total dispositions amount to $1.1 billion at a 7.1% cash cap rate with 5.4 years of weighted average lease term.

The company is exceeding its disposition guidance while approaching its most favorable cash cap rate target of 7.0%. Non-core office assets achieved a 7.8% cash cap rate. GNL has over $200 million in asset sales planned for closure during the first half of 2025. The company is using these dispositions to reduce its outstanding debt balance.

Bellevue Capital Partners, a major shareholder of Global Net Lease (NYSE: GNL), has purchased an additional 100,000 shares of the company. The investment firm expressed confidence in GNL's management and strategic plan execution, particularly highlighting the company's $950 million in asset sales this year at a 7.1% cap rate. Bellevue Capital Partners emphasized their support for GNL's management team and their commitment to value creation through the successful execution of the disposition strategy.

Global Net Lease (GNL) reported Q3 2024 financial results with revenue of $196.6 million, down from $203.3 million in Q2 2024. The company posted a net loss of $76.6 million, while achieving $85 million in cost synergies, exceeding initial projections. GNL reduced net debt by $445 million year-to-date, improving Net Debt to Adjusted EBITDA to 8.0x. The company's portfolio occupancy increased from 94% to 96% quarter-over-quarter, with closed plus disposition pipeline totaling $950 million at a 7.1% cash cap rate. GNL reaffirmed its full-year 2024 AFFO guidance of $1.30-$1.40 per share.

Global Net Lease (NYSE: GNL) has announced the release date for its third quarter 2024 financial results. The company will disclose its results on Wednesday, November 6, 2024 after the New York Stock Exchange closes. A conference call and audio webcast are scheduled for Thursday, November 7, 2024, at 11:00 a.m. ET to discuss the results and provide commentary on business performance.

The call will be conducted by GNL's management team and will include a question-and-answer session. Interested parties can access the live broadcast through the company's website at www.globalnetlease.com in the 'Investor Relations' section. A replay of the call will be available shortly after on the GNL website and accessible until February 7, 2025.

Global Net Lease (NYSE: GNL) has made significant progress on its 2024 strategic disposition plan, closing $569 million of dispositions through Q3 2024. Including the pipeline, total dispositions reach $870 million at a 7.2% cash cap rate on 5.3 years of weighted average lease term. The dispositions include $111 million of vacant assets, eliminating their negative impact on net operating income.

CEO Michael Weil emphasized that this initiative is important for reducing Net Debt to Adjusted EBITDA and lowering the cost of capital. By using net sale proceeds to reduce outstanding debt, GNL aims to enhance its financial flexibility and position itself for long-term growth. The company has furnished a slide detailing the progress of its 2024 strategic disposition plan in a Current Report on Form 8-K filed with the SEC.

Bellevue Capital Partners, a major shareholder of Global Net Lease, Inc. (NYSE: GNL), has acquired an additional 100,000 shares of GNL. This investment demonstrates Bellevue's confidence in GNL's management and commitment to maximizing shareholder value. The company is pleased with GNL's strategic disposition plan, which includes $854 million in asset sales this year at a cap rate of 7.2%. Bellevue views this favorable cap rate as evidence of GNL's ability to navigate market conditions effectively and a testament to the strength of its management team. The lower disposition cap rate compared to GNL's implied cap rate reinforces Bellevue's belief in the company's vision and strategic direction. As a major shareholder, Bellevue Capital Partners remains committed to supporting GNL's management in driving performance and creating value.

Global Net Lease, Inc. (NYSE: GNL) has announced a quarterly dividend for the fourth quarter of 2024. The company will pay a dividend of $0.275 per share of common stock on October 16, 2024. This dividend is payable to common stockholders who are on record at the close of business on October 11, 2024. GNL's board of directors authorizes and declares dividends on a quarterly basis, which are typically paid in arrears during the first month following the end of each fiscal quarter to common stockholders of record on the specified record date.

Global Net Lease (GNL) has announced quarterly dividends for its preferred stock series. The dividends are as follows:

• Series A Preferred Stock: $0.453125 per share
• Series B Preferred Stock: $0.4296875 per share
• Series D Preferred Stock: $0.46875 per share
• Series E Preferred Stock: $0.4609375 per share

All dividends are payable on October 15, 2024, to shareholders of record as of October 4, 2024. This announcement demonstrates GNL's commitment to providing regular income to its preferred stockholders.

Global Net Lease (NYSE: GNL) has made significant progress in its 2024 strategic disposition plan, announcing sales of The Plant Shopping Center in San Jose for $95 million and the Foster Wheeler office property in the UK for over $27 million. As of August 31, 2024, GNL has closed or secured agreements for dispositions totaling $854 million at a cash cap rate of 7.2%. The company used proceeds from The Plant sale to pay down its Revolving Credit Facility and strategically subdivided the asset to maximize value. The Foster Wheeler office sale reduces GNL's office exposure to 19% of the portfolio's straight-line rent. CEO Michael Weil emphasized the execution of their strategic plan and the focus on reducing outstanding debt and lowering Net Debt to Adjusted EBITDA.