Global Net Lease(GNL)
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Global Net Lease(GNL) - 2021 Q4 - Earnings Call Presentation
2022-02-24 17:55
Portfolio Highlights - GNL's portfolio boasts a high occupancy rate of 990%[3], with 309 properties and 393 million square feet[6] - The portfolio is diversified with 138 tenants across 51 industries[3,6] - 63% of portfolio annualized straight-line rent is derived from Investment Grade rated tenants[3] - 937% of leases have contractual rent increases[6] Leasing Activity & Acquisitions - In 2021, GNL completed lease extensions and expansions totaling 15 million square feet, adding approximately $96 million of net straight-line rent[3,10] - GNL closed on ten acquisitions in 2021 for $4972 million at a weighted average cap rate of 89% and a weighted average remaining lease term of 172 years[4] Financial Performance - GNL collected 100% of original cash rent for the fifth consecutive quarter[31] - Q4 2021 Adjusted Funds From Operations (AFFO) was $460 million, or $044 per share[31,33] - GNL had ample liquidity of $140 million as of December 31, 2021[31] Strategic Focus - GNL focuses on acquiring single-tenant industrial and distribution properties in North America and Continental Europe[17] - The company targets markets with quality sovereign debt ratings[15] - GNL aims to limit the impact of adverse currency and interest rate movements through a comprehensive hedging program[46]
Global Net Lease(GNL) - 2021 Q3 - Earnings Call Transcript
2021-11-04 22:08
Global Net Lease, Inc. (NYSE:GNL) Q3 2021 Earnings Conference Call November 4, 2021 1:00 PM ET Company Participants Louisa Quarto - Executive Vice President James Nelson - President and Chief Executive Officer Christopher Masterson - Chief Financial Officer, Treasurer and Secretary Conference Call Participants Craig Mailman - KeyBanc Capital Markets, Inc. Bryan Maher - B. Riley Securities, Inc. Barry Oxford - Colliers Securities LLC Operator Greetings, and welcome to the Global Net Lease Third Quarter 2021 ...
Global Net Lease(GNL) - 2021 Q3 - Quarterly Report
2021-11-04 20:49
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _________ to __________ Commission file number: 001-37390 Global Net Lease, Inc. Indicate by check mark whether the registrant (1) has filed all reports r ...
Global Net Lease(GNL) - 2021 Q3 - Earnings Call Presentation
2021-11-04 20:26
GNL OD GLOBAL NET LEASE Global Net Lease Third Quarter 2021 Investor Presentation Pictured – McLaren Campus in Woking, U.K. COMPANY HIGHLIGHTS 2 High-Quality, Mission Critical, Net Lease Focused Portfolio: Featuring high portfolio occupancy of 99.1% and near complete Original Cash Rent collection(1) for the fourth consecutive quarter, highlighting strong overall operating performance 1 Differentiated Strategy with International Diversification: Portfolio of 239 properties in the U.S. and Canada complimented ...
Global Net Lease(GNL) - 2021 Q2 - Earnings Call Presentation
2021-08-09 08:53
Global Net Lease Second Quarter 2021 Investor Presentation COMPANY HIGHLIGHTS 2 High-Quality, Mission Critical, Net Lease Focused Portfolio: Featuring high portfolio occupancy of 99.7% and complete second quarter original Cash Rent collection rate of 100%(1), highlighting strong overall operating performance 1 Differentiated Strategy with International Diversification: Portfolio of 239 properties in the U.S. and Canada complimented by a 72 property Europe portfolio that is collectively diversified across 13 ...
Global Net Lease(GNL) - 2021 Q2 - Earnings Call Transcript
2021-08-05 20:34
Global Net Lease, Inc. (NYSE:GNL) Q2 2021 Earnings Conference Call August 5, 2021 1:00 PM ET Company Participants Louisa Quarto - Executive Vice President James Nelson - Chief Executive Officer and President Christopher Masterson - Chief Financial Officer, Treasurer and Secretary Conference Call Participants Bryan Maher - B. Riley FBR, Inc. Craig Mailman - KeyBanc Capital Markets James Allen Villard - Ladenburg Thalmann Operator Good afternoon and welcome to Global Net Lease Second Quarter 2021 Earnings Cal ...
Global Net Lease(GNL) - 2021 Q2 - Quarterly Report
2021-08-05 20:21
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _________ to __________ Commission file number: 001-37390 Global Net Lease, Inc. (Exact name of registrant as specified in its charter) (State or other jurisdi ...
Global Net Lease(GNL) - 2021 Q1 - Quarterly Report
2021-05-07 20:06
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2021 OR (Exact name of registrant as specified in its charter) | Maryland | 45-2771978 | | --- | --- | | (State or other jurisdiction of incorporation or organization) | (I.R.S. Employer Identification No.) | | 650 Fifth Ave., 30th Floor, New York, NY 10019 | | (Address of principal exec ...
Global Net Lease(GNL) - 2021 Q1 - Earnings Call Transcript
2021-05-06 21:08
Financial Data and Key Metrics Changes - The company reported an AFFO of $0.44 per share, with cash NOI growth of 14.6% to $80.9 million compared to the first quarter of 2020 [5][11] - Adjusted EBITDA increased to $68.1 million from $60.1 million year-over-year, and revenue rose by 12.8% to $89.4 million from $79.2 million [12] - The net loss attributable to common stockholders was $832,000 for the quarter [12] Business Line Data and Key Metrics Changes - The company’s property mix is now 49% industrial and distribution, 46% office, and 5% retail, compared to 47% industrial and distribution, 48% office, and 5% retail a year ago [10] - Over 66% of straight-line rent comes from investment-grade or implied investment-grade tenants [10] Market Data and Key Metrics Changes - The company collected 100% of cash rent from its UK, European, and North American assets, highlighting the resilience of its portfolio [6] - The portfolio is nearly fully occupied at 99.7% leased, with a weighted average remaining lease term of 8.3 years [9] Company Strategy and Development Direction - The company is focused on a robust acquisition pipeline, with year-to-date closed and forward pipeline acquisitions exceeding $250 million at a going-in cap rate of 9.3% [6][16] - The acquisition of the McLaren Group's Headquarters is a significant addition, showcasing the company's ability to source large-scale global opportunities [7][9] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ongoing collection of nearly 100% of rents and the strong performance of the portfolio, indicating a positive outlook for future growth [16] - The company is actively pursuing additional accretive acquisitions and believes its global portfolio will continue to contribute to growth in future quarterly results [16] Other Important Information - The company ended the quarter with net debt of $2 billion at a weighted average interest rate of 3.3%, with a net debt to adjusted EBITDA ratio of 7.4x [14] - Liquidity was approximately $350 million as of March 31, 2021, providing a strong position for future capital needs [14] Q&A Session Summary Question: Was there a fallout from the acquisition pipeline in the first quarter? - Yes, one potential acquisition did fall out [19] Question: Can you provide details on the McLaren acquisition? - The McLaren facility includes R&D, manufacturing, and office space, totaling approximately 900,000 square feet [20] Question: How was the McLaren deal sourced? - The deal was sourced through management relationships with McLaren, leading to a successful bid [23] Question: What is the company's view on capital raising and liquidity? - The company remains in a comfortable liquidity position and will consider capital raising as appropriate based on market conditions [27] Question: What are the internal discussions regarding capital recycling? - The company continuously evaluates opportunities but is currently satisfied with its well-performing portfolio [36] Question: How is the office acquisition environment perceived? - The company is comfortable with its office portfolio, particularly in secondary markets, and has not seen significant tenant requests to reduce space [38] Question: Can you clarify the refinancing language around the McLaren transaction? - If the company refinances its debt and McLaren achieves a higher credit rating, the rents will step down [44]
Global Net Lease(GNL) - 2021 Q1 - Earnings Call Presentation
2021-05-06 17:59
6 CIN GIOBAL NET LEASE Global Net Lease First Quarter 2021 Investor Presentation COMPANY HIGHLIGHTS 2 High-Quality, Mission Critical, Net Lease Focused Portfolio: High portfolio occupancy of 99.7% coupled with complete first quarter original Cash Rent collection of 100%(1), highlighting strong overall operating performance 1 Long-Term, Embedded Rental Growth From Primarily Investment Grade(2) Rated Tenants: 66% of 3 Fully Aligned and Experienced Management Team: Fully integrated external management team cre ...