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Global Net Lease reported third quarter 2026 revenue of $112.9 million, a $67.1 million net loss and AFFO of $48.3 million, or $0.22 per share, and raised full-year AFFO per share guidance to a $0.83 to $0.85 range.
Global Net Lease raised its 2026 AFFO per share guidance to $0.83 to $0.85 and gross transaction volume guidance to $750 million to $800 million, while expecting office exposure to decline to approximately 18% of straight-line rent.
Global Net Lease completed the Modiv acquisition on August 12, 2026, expanding its portfolio to 835 properties; nine-month net loss attributable to common stockholders narrowed to $90.6 million from $306.4 million.
Useful current figures from the complete screener profile.
* Q4 derived as the full year minus Q1 to Q3.
TL;DR. Global Net Lease (GNL) raised full-year 2026 AFFO/share guidance to $0.82–$0.85 and lifted gross transaction volume guidance to $700M–$800M, reflecting the anticipated Modiv acquisition expected to close mid-August 2026. The company reported Q2 AFFO/share of $0.22, expanded liquidity to $919M, and repurchased shares at a weighted average of $8.11.
AI-generated from the earnings call and 8-K · may contain errors · not investment advice
Blended from price, momentum, positioning, fundamentals & volatility · daily-close · not investment advice. Market backdrop is context, not part of the score.
Still-open targets the latest release did not restate under the same label.
Guidance from company 8-Ks · delivered figures from as-reported statements · no analyst estimates involved.
Illustrative technical + ownership context — a signal mix, not investment advice.
| Metric | Latest | Period | YoY |
|---|---|---|---|
| Adjusted EBITDA non-GAAP | 88.82M | Three Months Ended June 30 | — |
GAAP → non-GAAP reconciliationGAAP EBITDA 88.59M
+3.7M Impairment charges
+3.94M Equity-based compensation
+6.56M Merger, transaction and other costs
-23.25M Gain on dispositions of real estate investments
+302K Loss on derivative instruments
-1.82M Unrealized (gains) losses on undesignated foreign currency advances and other hedge ineffectiveness
+11.91M Loss on extinguishment and modification of debt
-275K Other income
+773K Write offs of straight-line rent
-1.62M Discontinued operations adjustments
= Adjusted EBITDA 88.82M
|
|||
| AFFO attributable to common stockholders non-GAAP | 45.7M | Three Months Ended June 30, 2026 | — |
| AFFO per diluted common share non-GAAP | $0.22 | Three Months Ended June 30, 2026 | — |
| capital expenditures | 3.4M | six months ended June 30, 2026 | — |
| Cash NOI non-GAAP | 100.54M | Three Months Ended June 30 | — |
GAAP → non-GAAP reconciliationGAAP NOI 99.08M
+1.09M Amortization related to above- and below- market lease intangibles and right-of-use assets, net
+378K Straight-line rent
= Cash NOI 100.54M
|
|||
| Cash paid for interest non-GAAP | 27.86M | Three Months Ended June 30 | — |
| Common shares outstanding | 210.95M | as of June 30, 2026 | — |
| Core FFO attributable to common stockholders non-GAAP | 32.41M | Three Months Ended June 30 | — |
GAAP → non-GAAP reconciliationFFO (as defined by NAREIT) attributable to common stockholders 13.93M (non-GAAP)
+6.56M Merger, transaction and other costs
+11.91M Loss on extinguishment and modification of debt
+0K Discontinued operations Core FFO adjustments
= Core FFO attributable to common stockholders 32.41M
|
|||
| Core FFO per diluted common share non-GAAP | $0.15 | Three Months Ended June 30, 2026 | — |
| Dividend yield - annualized, based on quarter end share price | 8.5% | Q2 2026 | — |
| Dividends declared to common stockholders | $40.64M | Three Months Ended June 30, 2026 | — |
| FFO (as defined by NAREIT) attributable to common stockholders non-GAAP | $13.93M | Three Months Ended June 30, 2026 | — |
GAAP → non-GAAP reconciliationGAAP Net (loss) income attributable to common stockholders (in accordance with GAAP) -7.45M
+3.7M Impairment charges
+41.51M Depreciation and amortization
-23.25M (Gain) loss on dispositions of real estate investments
-573K Discontinued operations FFO adjustments
= FFO (as defined by NAREIT) attributable to common stockholders 13.93M
|
|||
| FFO (defined by NAREIT) non-GAAP | 13.93M | Three Months Ended June 30 | — |
GAAP → non-GAAP reconciliationGAAP Net loss attributable to stockholders (in accordance with GAAP) -7.45M
+3.7M Impairment charges
+41.51M Depreciation and amortization
-23.25M Gain on dispositions of real estate investments
-573K Discontinued operations FFO adjustments
= FFO (defined by NAREIT) 13.93M
|
|||
| FFO per diluted common share non-GAAP | $0.07 | Three Months Ended June 30, 2026 | — |
| Gross asset value | $5.06B | as of June 30, 2026 | — |
| interest coverage ratio non-GAAP | 3.2 | As of June 30, 2026 | — |
| Leased | 97% | as of June 30, 2026 | — |
| Liquidity | $919.02M | as of June 30, 2026 | — |
| Net debt | $2.34B | as of June 30, 2026 | — |
| Net debt to annualized adjusted EBITDA | 6.6 | as of June 30, 2026 | — |
| Net debt to gross asset value | 46.4% | as of June 30, 2026 | — |
| net lease properties | 798 | As of June 30, 2026 | — |
| Net Operating Income non-GAAP | 99.08M | Three Months Ended June 30 | — |
| Number of properties | 798 | as of June 30, 2026 | — |
| Number of properties impaired | 4 | the three months ended June 30, 2026 filing | — |
| Number of properties sold | 11 | the three months ended June 30, 2026 filing | — |
| Office occupancy | 99% | second quarter 2026 | — |
| percentage of debt that is fixed rate | 92% | As of June 30, 2026 | — |
| Portfolio occupancy | 97% | second quarter 2026 | — |
| remaining weighted-average lease term | 5.7 | As of June 30, 2026 | — |
| renewal leasing spread | 5.6% | second quarter 2026 | — |
| rentable square feet | 40M | As of June 30, 2026 | — |
| Revolving Credit Facility capacity | 1.3B | second quarter 2026 | — |
| shares repurchased | 20.9M | as of July 31, 2026 | — |
| square feet leased | 357,000 | second quarter 2026 | — |
| Square footage (millions) | 39.7M | as of June 30, 2026 | — |
| Total consolidated debt | $2.5B | as of June 30, 2026 | — |
| Weighted average annual rent increase | 1.4% | second quarter 2026 | — |
| weighted average renewal term | 8.4 | second quarter 2026 | — |
| Weighted-average debt maturity | 2.7 | As of June 30, 2026 | — |
| Weighted-average interest rate cost | 4.1% | as of June 30, 2026 | — |
| Weighted-average remaining lease term (years) | 5.7 | as of June 30, 2026 | — |
Figures exactly as the company stated them in writing · click a metric with a to chart its history · period links open the stating document · "filing" marks figures stated in the 10-K/10-Q · YoY needs an exactly comparable prior-year period
| Company | Mkt cap | YTD | Rev growth Y/Y | P/E | Short % shares |
|---|---|---|---|---|---|
|
GNL
this stock
Global Net Lease, Inc.
|
$1.47B | -23.5% | -13.1% | — | 6.5% |
|
VICI
Vici Properties Inc.
|
$27.54B | -11.1% | +4.1% | 11.5 | 2.7% |
|
WPC
W. P. Carey Inc.
|
$15.11B | +2.0% | +8.4% | 23.2 | 3.9% |
|
BNL
Broadstone Net Lease, Inc.
|
$3.38B | +1.3% | +5.2% | 23.2 | 10.6% |
|
AAT
American Assets Trust, Inc.
|
$1.33B | +14.6% | -4.7% | 62.0 | 2.3% |
Peers by industry group · P/E from as-reported trailing EPS · short % is of shares outstanding
Global Net Lease reported third quarter 2026 revenue of $112.9 million, a $67.1 million net loss and AFFO of $48.3 million, or $0.22 per share, and raised full-year AFFO per share guidance to a $0.83 to $0.85 range.
View| 5D | 20D | 120D | MTD | YTD | |
|---|---|---|---|---|---|
| GNL | -3.9% | -11.4% | -30.8% | -5.6% | -23.5% |
| SPY | +2.6% | -1.2% | +0.5% | -0.2% | +10.6% |
| vs SPY | -6.5% | -10.3% | -31.3% | -5.4% | -34.1% |
Dividends per share over the trailing 365 days by ex-date · buyback figures as last reported in SEC filings ("spent" derived as authorized − remaining; when several programs run concurrently, authorized is their combined total per the newest filing) · components shown separately — trailing-year buyback spend isn't tracked, so no combined shareholder yield is derived.
