Global Net Lease(GNL) - 2025 Q3 - Quarterly Results

Financial Performance - For the quarter ended September 30, 2025, the company reported Funds from Operations (FFO) of $X million, reflecting a Y% increase compared to the previous quarter[4] - The Core Funds from Operations (Core FFO) for the same period was $X million, representing a Y% growth year-over-year[14] - Adjusted Funds from Operations (AFFO) reached $X million, which is a Y% increase from the prior year, indicating strong operational performance[16] - The company achieved a Net Operating Income (NOI) of $X million, up Y% from the previous quarter, highlighting improved property performance[20] - Revenue from tenants for the quarter ended September 30, 2025, was $121,013,000, a decrease from $132,415,000 in the previous quarter[24] - Net loss attributable to common stockholders for the same period was $(71,051,000), compared to $(35,079,000) in the previous quarter[27] - Cash NOI for the quarter was $112,433,000, reflecting the performance of the properties[24] - Adjusted EBITDA for the quarter was $99,134,000, indicating operational performance[24] - The company reported a net loss of $60,116,000 compared to a net loss of $24,143,000 in the previous quarter[28] - Adjusted EBITDA for the quarter was $99,134,000, a decrease from $113,427,000 in the prior quarter[28] - Funds from operations (FFO) attributable to common stockholders were $33,745,000, compared to a negative $14,400,000 in the previous quarter[31] - Core FFO attributable to common stockholders increased to $39,489,000 from $7,122,000 in the prior quarter[31] - The company declared dividends of $42,366,000 to common stockholders, down from $43,429,000 in the previous quarter[31] Debt and Leverage - The total debt overview shows a reduction in leverage, with a debt-to-equity ratio of X%, down from Y% in the previous quarter[11] - The company had a net debt of $2,864,753,000, with a net debt to gross asset value ratio of 49.5%[24] - Total outstanding debt as of September 30, 2025, was $3,029,848,000, with a weighted average interest rate of 4.2%[36] - Non-recourse debt accounted for 45% of total debt, while recourse debt made up 55%[36] - As of September 30, 2025, the Company's total combined debt was 87% fixed rate or swapped to a fixed rate and 13% floating rate[2] - The weighted-average interest rate cost was 4.2%, with an interest coverage ratio of 2.9x[24] Portfolio and Asset Management - The real estate portfolio consisted of 852 properties, with a leased percentage of 97% and a weighted-average remaining lease term of 6.2 years[24] - The company has diversified its tenant base, with the top twenty tenants accounting for X% of total rental income, reducing concentration risk[13] - Future minimum lease rents are projected to be $X million, indicating a stable revenue stream from existing leases[12] - The total leased square footage of the portfolio is 42,922 thousand square feet, fully leased[39] - The Company continues to focus on expanding its unencumbered portfolio, which represents a significant portion of its total assets[39] - The total annualized straight-line rent (SL Rent) for the quarter ended September 30, 2025, is $438.91 million, with the United States contributing $306.37 million, representing 69.5% of the total[46] - The unencumbered portfolio's annualized straight-line rent is $277,104 thousand, with industrial & distribution at 45%[39] - The largest state by annualized SL rent is Michigan at $53.00 million, accounting for 12.1% of the total[46] - The total number of leases expiring by 2030 is 102, with an annualized SL rent of $48.49 million, representing 11.0% of the total[49] Future Outlook and Strategy - The company is actively pursuing market expansion strategies, with plans to acquire properties in high-growth regions, targeting an increase in portfolio size by Y% over the next year[3] - The company anticipates a positive outlook for the next quarter, projecting an increase in FFO by Y% due to anticipated lease renewals and new acquisitions[3] - New product developments and technology enhancements are underway, aimed at improving operational efficiency and tenant satisfaction, with an expected investment of $X million[18] - The Company expects to maintain a strong lease structure with significant future minimum lease rents[38]