Global Net Lease (GNL) Reports Q1 EPS of $0.52

Global Net Lease (NYSE: GNL) reported Q1 EPS of $0.52, versus $0.53 reported last year. Revenue for the quarter came in at $62.84 thousand, versus $54.95 thousand reported last year.

• Net Income attributable to stockholders increased by 14.5% year-over-year
• Net Operating Income (\"NOI\") increased by 12.8% year-over-year
• NAREIT defined Funds from Operations (\"FFO\") increased 11.7% year-over-year
• Core Funds from Operations (\"Core-FFO\") increased by 14.5% year-over-year
• Adjusted Funds from Operations (\"AFFO\") increased by 6.7% year-over-year
• Completed the integration of the Global II portfolio
• 100% leased with 9.5 years remaining weighted average lease term as of March 31, 2017
• Interest coverage ratio of 4.6 times as of March 31, 20172
• Acquired $30.3 million in new or recently remodeled real estate assets
• Paid off remaining balance of €52.7 million mezzanine facility that carried an interest rate of 8.25%
• Completed a 1-for-3 reverse stock split of the Company's common shares

Scott Bowman, Chief Executive Officer and President of GNL, commented, "I am pleased to report that GNL hit the ground running in the first quarter of 2017, following the close of our acquisition of Global II at the end of 2016. We have made substantial progress on our stated objectives for the year and continue to work diligently to position GNL for sustained long term growth."

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

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