Global Net Lease (NYSE: GNL) reported Q4 EPS of ($0.06), $0.03 worse than the analyst estimate of ($0.03). Revenue for the quarter came in at $206.7 million versus the consensus estimate of $166.01 million.

Full Year 2024 Guidance and Dividend Update7

It is GNL’s objective to provide investors with enhanced transparency regarding our financial goals and projections, and therefore we would like to introduce initial 2024 guidance:

AFFO per share range of $1.30 to $1.40
Net Debt to Adjusted EBITDA range8 of 7.4x to 7.8x
Projected 2024 dispositions in the range of $400 million to $600 million6,9, with the majority of the dispositions coming from occupied opportunistic sales, where GNL anticipates achieving a cash cap rate between 7% and 8%

Reduced annual dividend to $1.10 per share of common stock starting with the dividend expected to be declared in April 2024 which increases the amount of cash that can be used to lower leverage

For earnings history and earnings-related data on Global Net Lease (GNL) click here.