Global Net Lease Q3 revenue falls on asset sales

Global Net Lease

04/11/2026 21:45

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: ID:nGNX9c0Rdt

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.)