Global Net Lease, Inc. announced its financial and operating results for the fourth quarter and full year ended December 31, 2024, on February 27, 2025. The company completed $835 million in dispositions in 2024, surpassing the high end of its increased guidance.
Net Debt was reduced by $734 million in 2024, improving the Net Debt to Adjusted EBITDA ratio to 7.6x. The company met and exceeded its full-year 2024 earnings guidance, demonstrating strong operational execution.
The company also highlighted the recently announced $1.8 billion multi-tenant portfolio sale, which is expected to significantly reduce leverage and improve liquidity. This proposed transaction aims to transform GNL into a pure-play, single-tenant net lease company.
In conjunction with its strategic transformation, GNL initiated an opportunistic $300 million share repurchase program. The company also established initial 2025 guidance, contingent on the multi-tenant portfolio sale, and announced a reduction in its quarterly common stock dividend to $0.19 per share, effective April 2025, to support deleveraging and liquidity.
For the fourth quarter of 2024, GNL reported Funds From Operations (FFO) of $78.3 million, or $0.34 per share. Full-year 2024 revenue was US$805.0 million, representing a 56% increase from fiscal year 2023.
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