Global Net Lease (GNL) Reports Q2 EPS of $0.08 on Revenues of $71M

Global Net Lease (NYSE: GNL) reported Q2 EPS of $0.08. Revenue for the quarter came in at $71 million.

• Revenue increased 9.2% year over year to $71.0 million
• Net income attributable to common stockholders increased to $5.3 million on a year over year basis up from $5.2 million
• Core Funds from Operations (\"FFO\") increased 20% or $0.10 per share on a year over year basis
• Adjusted EBITDA increased 6.9% or $3.4 million on a year over year basis
• Adjusted Funds from Operations (\"AFFO\") was $35.5 million as compared to $36.2 million in the prior year second quarter, weighted average shares outstanding for the respective periods were 67,292,021 and 66,652,2211
• Portfolio 99.5% leased with an 8.5 year weighted average remaining lease term
• 79.1% of tenants rated as investment grade or implied investment grade2
• Closed on the acquisition of seven industrial and distribution assets totaling 1.6 million square feet for $97.6 million
• Debt maturity extended to 3.3 years as compared to 1.3 years at the end of the second quarter 2017
• Subsequent to quarter end signed a definitive agreement to acquire a net lease office building for $54.0 million and a distribution facility for $11.0 million

James Nelson, Chief Executive Officer of GNL commented, "Our strong results this quarter reflect the continued performance of GNL's portfolio and the addition of 13 net lease assets acquired during the first half of the year. During the quarter GNL closed on $97.6 million of industrial and distribution acquisitions originally announced in February 2018. Year to date GNL has closed on a total of $182.4 million of the previously announced $307.3 million in acquisitions."

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

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