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Global Net Lease Q3 revenue falls on asset sales

By Reuters News


Overview

  • US net lease REIT's Q3 revenue declined yr/yr, reflecting asset dispositions

  • Q3 adjusted FFO per share declined yr/yr

  • Company completed $535 mln Modiv Industrial acquisition and integrated portfolio


Outlook

  • Company raises full-year 2026 AFFO per share guidance to $0.83 – $0.85

  • Company raises full-year 2026 gross transaction volume guidance to $750 mln – $800 mln

  • Company reaffirms 2026 net debt to adjusted EBITDA guidance of 6.5x – 6.9x


Result Drivers

  • ASSET DISPOSITIONS - Co said lower revenue and AFFO per share primarily reflected effects of asset dispositions

  • MODIV ACQUISITION - Co said Modiv Industrial acquisition increased industrial exposure and extended average lease term

  • G&A SAVINGS - Co said annualized G&A expense declined yr/yr due to portfolio simplification and operational efficiencies


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Revenue From Tenants

$112.87 mln

Q3 Net Loss

$67.13 mln

Q3 Core FFO

$38.25 mln

Q3 NAREIT FFO

$32.78 mln

Q3 Adjusted FFO Per Share

$0.22


Analyst Coverage

  • The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 6 "strong buy" or "buy", 2 "hold" and 1 "sell" or "strong sell"

  • The average consensus recommendation for the commercial reits peer group is "buy"

  • Wall Street's median 12-month price target for Global Net Lease Inc is $10.00, about 44.5% above its November 3 closing price of $6.92


Reuters Recommended Reads

  • Nov 4 - NNN REIT Q3 revenue beats estimates, raises 2026 disposition guidance

  • Nov 2 - Realty Income's Q3 revenue beats; raises 2026 AFFO per share outlook

  • Nov 2 - SITE Centers Q3 operating FFO swings to loss as property sales reduce income


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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