Global Net Lease, Inc. - GNL STOCK NEWS

Global Net Lease (GNL) reported a strong fourth quarter of 2020, collecting 97% of the original cash rent due by January 6, 2021. The company also acquired seven properties for approximately $290 million, primarily industrial assets in the U.S., with a weighted average cap rate of 7.2% and an average remaining lease term of 9.6 years. For the entire year, GNL acquired 28 properties totaling $461.2 million, indicating a robust investment strategy amid challenging market conditions.

Global Net Lease announced a quarterly dividend of $0.40 per share, totaling an annualized rate of $1.60, payable on January 15, 2021. This dividend is for stockholders of record as of January 11, 2021. The REIT focuses on acquiring a diversified global portfolio of commercial properties, particularly through sale-leaseback transactions across the United States and Northern Europe. The company continues to express confidence in maintaining its dividend payments amid ongoing economic uncertainties.

Global Net Lease (NYSE: GNL) announced its intention to continue paying quarterly dividends on its preferred stocks. The company declared a dividend of $0.453125 per share for its 7.25% Series A Preferred Stock, payable on January 15, 2021. Additionally, a dividend of $0.4296875 per share for its 6.875% Series B Preferred Stock will also be paid on the same date. Both dividends are due to stockholders of record as of January 5, 2021.

Global Net Lease (NYSE: GNL) successfully completed a $500 million senior unsecured note offering on December 16, 2020, featuring a 3.75% interest rate and maturing on December 15, 2027. The offering received an investment-grade rating of BBB- from S&P and BB+ from Fitch. The proceeds will strengthen GNL's capital structure by repaying existing debts, including $88 million of secured debt, and improve its average debt maturity from 5.1 to 5.7 years. This milestone is viewed as a significant step for GNL's growth and stability in the market.

Global Net Lease (GNL) has priced $500 million in new 3.750% Senior Notes due 2027. The offering will close around December 16, 2020, and will help GNL repay approximately $264 million under its Revolving Credit Facility, $88 million of secured loans, and $139 million of its Term Loan. The Notes are offered to qualified institutional buyers under Rule 144A and Regulation S of the Securities Act. GNL operates as a real estate investment trust, focusing on acquiring commercial properties in the U.S. and Europe.

Global Net Lease, Inc. (GNL) announced plans to offer $500 million of seven-year senior unsecured notes, subject to market conditions. The proceeds will primarily be used to repay amounts borrowed under its revolving credit facility and to partially repay a term loan. The notes will not be registered under the Securities Act and may be sold only to qualified institutional buyers or in offshore transactions. GNL focuses on acquiring a diversified portfolio of commercial properties, emphasizing mission-critical net-leased assets in the U.S. and Europe.

Global Net Lease, Inc. (GNL) reported a strong fourth quarter rent collection, with 97% of cash rent due received as of December 2, 2020. Notably, 98% was collected from UK assets and 99% from other European assets. CEO James Nelson highlighted the resilience of their portfolio, which remains over 99% occupied and includes 65% of rent from investment-grade tenants. GNL also announced the acquisition of four US industrial properties for $153 million, with a pipeline for future acquisitions totaling $139.8 million.

Global Net Lease (GNL) reported a revenue increase of 6.1% to $82.7 million for Q3 2020, compared to $77.9 million in Q3 2019. However, the company experienced a net loss of $0.5 million, a significant drop from the $6.9 million net income reported a year earlier. Net operating income rose 7.8% to $75.2 million, while Core FFO decreased to $34.6 million. GNL maintained high liquidity with $392 million in cash and collected 97% of its Q3 rents. The portfolio remains stable at 99.6% leased with an average lease term of 8.7 years.

Global Net Lease (NYSE: GNL) will release its third-quarter financial results for 2020 on November 5, 2020, before NYSE trading begins. A conference call will follow at 1:00 p.m. ET the same day, offering insights into the company's performance, with a Q&A session for analysts and investors. Given the high volume of calls this season and COVID-19 impacts on service providers, callers should expect potential delays and are encouraged to join via webcast. Forward-looking statements in the release highlight risks from the ongoing pandemic affecting operations.