GNL · Global Net Lease, Inc.
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AI Brief
Q2 FY26 earnings call · Aug 6, 2026TL;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.
- + Raised full-year 2026 AFFO/share guidance to $0.82–$0.85 (from $0.80–$0.84) and gross transaction volume guidance to $700M–$800M (from $250M–$350M)
- + Modiv acquisition expected to be 4% accretive to AFFO/share upon closing and leverage-neutral within stated 6.5x–6.9x range
- + Modiv acquisition expands industrial exposure to 50% of portfolio with a 15.0-year WALT and 45% investment-grade rent base
- + Liquidity expanded to $919M and revolver capacity to $1.3B, up from $790M and $1.2B year-over-year
- + Recurring capex fell sharply to $3.4M in H1 2026 from $19.6M in H1 2025, generating more than $16M of savings
- − Q2 2026 revenue fell to $112.5M from $124.9M in Q2 2025, reflecting prior asset dispositions including the 2025 multi-tenant retail sale
- − Q2 AFFO/share of $0.22 declined from $0.24 in Q2 2025
- − Q2 net loss attributable to common stockholders of $7.5M, though narrower than $35.1M loss in Q2 2025
- − Office exposure remains 25% of annualized straight-line rent, with management declining to commit to a timeline for further reductions
- − Modiv transaction has not yet completed, subject to shareholder vote on August 10, 2026 and customary closing conditions
AI-generated from the earnings call and 8-K · may contain errors · not investment advice
Equibles Rating
blended score · not investment adviceBlended from price, momentum, positioning, fundamentals & volatility · daily-close · not investment advice. Market backdrop is context, not part of the score.
Guidance & track record
Guidance from company 8-Ks · delivered figures from as-reported statements · no analyst estimates involved.
Technicals
trend & momentum for long-term holders SellIllustrative technical + ownership context — a signal mix, not investment advice.
Key metrics
Earlier KPI extraction records exist, but do not meet the current evidence-completeness requirements. No current verified series is available. Earlier figures remain withheld until revalidated; this is not evidence that the company reports no KPIs.
Versus peers
REIT - Diversified — same industry group| Company | Mkt cap | YTD | Rev growth Y/Y | P/E | Short % shares |
|---|---|---|---|---|---|
|
GNL
this stock
Global Net Lease, Inc.
|
$1.80B | -4.0% | -13.1% | — | 6.1% |
|
VICI
Vici Properties Inc.
|
$25.89B | -18.3% | +4.1% | 9.1 | 2.4% |
|
WPC
W. P. Carey Inc.
|
$15.06B | +0.4% | +8.4% | 23.1 | 3.6% |
|
BNL
Broadstone Net Lease, Inc.
|
$3.62B | +6.5% | +5.2% | 24.8 | 10.5% |
|
AAT
American Assets Trust, Inc.
|
$1.32B | +12.3% | -4.7% | 74.4 | 3.1% |
Peers by industry group · P/E from as-reported trailing EPS · short % is of shares outstanding
At a glance
key data from every sectionPerformance
| 5D | 20D | 120D | MTD | YTD | |
|---|---|---|---|---|---|
| GNL | -4.7% | -9.5% | -14.2% | -10.0% | -4.0% |
| SPY | -0.7% | +0.1% | +12.2% | -0.6% | +11.8% |
| vs SPY | -4.1% | -9.6% | -26.4% | -9.4% | -15.8% |
Capital returns
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.