Global Net Lease, Inc. (GNL) moved with change of 0.47% pushing the price on the $19.34 per share in recent trading session ended on Monday. The latest trading activity showed that the stock price is 24.37% off from its 52-week low and traded with move of -15.88% from high printed in the last 52-week period. The Company kept 67M Floating Shares and holds 67.29M shares outstanding. The stock recent traded volume stands with 617937 shares as Stock Under NEWS RADAR with its average volume of 834.46K shares. The relative volume observed at 0.74.
Global Net Lease, Inc. (NYSE: GNL), a real estate investment trust focused on acquiring and managing a diversified portfolio of single tenant net lease commercial properties in the U.S. and Europe, announced today its financial and operating results for the Global Net Lease first quarter ended March 31, 2018.
Global Net Lease Reports Second Quarter 2020 Results
NEW YORK, Aug. 5, 2020/PRNewswire/ – Global Net Lease, Inc. (NYSE: GNL) (“GNL” or the “Organization”), a land venture trust zeroed in on the securing and the executives of essentially single-occupant mechanical and office properties rented long haul to great corporate inhabitants in select business sectors in the United States, Europe and Canada, reported today its monetary and working outcomes for the quarter finished June 30, 2020.
Second Quarter 2020 and Subsequent Events Highlights
- Income expanded 6.6% to $81.1 million from $76.1 million in second quarter 2019
- Net gain owing to normal investors was $1.0 million when contrasted with $12.6 million in second quarter 2019 because of a $7 million abatement in gains from land attitudes in 2019
- Net working pay (“NOI”) became 6.1% to $73.3 million from $69.1 million in second quarter 2019
- Center Funds from Operations (“Core FFO”) was $35.4 million when contrasted with $38.4 million in second quarter 2019
- Changed Funds from Operations (“AFFO”) was $39.8 million when contrasted with $40.1 million in the earlier year quarter
- AFFO per share was $0.44 when contrasted with $0.47 in second quarter 2019 because of expanded interest cost and offer check
- Circulated $35.8 million in like manner profits to investors
- Sufficient Liquidity with money and money counterparts of $331 million1
- Gathered 98% of second quarter money leases as of July 31, 20202
- Procured eight mechanical and office properties for $31 million3 at a 8.45% weighted-normal capitalization rate4 with 18.1 long stretches of weighted-normal leftover rent term5
- Absolute acquisitions for the a half year finished June 30, 2020 methodology $145 million
- Portfolio 99.6% rented with 8.9 long periods of weighted normal leftover rent term6, up from 8.0 years in earlier year quarter
The Company’s arrangement of 296 Global Net Lease properties is situated in nine nations and contained 34.6 million rentable Stock News Buzz: Landec Corporation feet rented to 126 occupants across 46 businesses at June 30, 2020. The land portfolio measurements include:
- 99.6% rented with a leftover weighted-normal rent term of 8.9 years, up from 8.0 years in 2019
- 93.4% of the portfolio contains authoritative lease increments dependent on area
- 65% of portfolio annualized straight-line lease got from speculation grade and inferred venture grade appraised tenants7
- 65% U.S. furthermore, 35% Europe (in light of annualized straight-line lease)
- 48% Office, 47% Industrial/Distribution and 5% Retail (in view of an annualized straight-line lease)
The Company gathered 98% of money leases that were payable in the second quarter of 2020 as of July 31, 2020, including 99% of the money lease payable from the best 20 inhabitants in the portfolio (estimated dependent on annualized straight-line lease as of June 30, 2020), which address 49% of GNL’s subsequent quarter money lease. On a geographic premise, Global Net Lease gathered 99% of the money lease payable from U.K. based resources, 100% from European inhabitants and 96% of occupants situated in the U.S.
During the second quarter 2020, the Company obtained eight net rented resources. At a total agreement buy cost of roughly $31 million. These resources were bought at a weighted normal going-in capitalization pace of 7.11%8. A by and large weighted normal capitalization pace of 8.45%, with a weighted normal leftover rent term of 18.1 years.
Capital Structure and Liquidity Resources
As of June 30, 2020, the Global Net Lease Company had $316.8 million of money and money counterparts. The Company’s net obligation to big business esteem was 50.1% with. An undertaking estimation of $3.5 billion dependent on the quarter end shutting share cost of $16.73. For normal stock, $24.31 for the Series A favored stock and $22.95 for the Series B favored stock. Net obligation of $1.8 billion9, including $1.3 billion of home loan obligation.
As of June 30, 2020, the level of fixed rate obligation (counting variable rate obligation fixed with trades). Expanded to 86.6% from 84.6% as of June 30, 2019. The Global Net Lease Company’s absolute consolidated obligation had a weighted normal loan fee of 3.2%. Bringing about a premium inclusion proportion of 3.9 times10. Weighted-normal obligation development dependent on remarkable chief equilibrium of the obligation. The most recent day of the relevant quarter expanded. To 5.2 years as of June 30, 2020 from 4.6 years at June 30, 2019
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