Global Net Lease, Inc. announced its financial and operating results for the first quarter ended March 31, 2025, on May 7, 2025. The company successfully closed the first phase of its multi-tenant portfolio sale, generating $1.1 billion in gross proceeds, and remains on track to complete the remaining phases by the end of Q2 2025.
GNL significantly reduced its net debt by $833 million in Q1 2025, improving the Net Debt to Adjusted EBITDA ratio to 6.7x. The company also repurchased 7.9 million shares for $59 million at a weighted average price of $7.50 as of May 2, 2025, including 2.4 million shares for $19.4 million in the first quarter.
The company reaffirmed its full-year 2025 guidance, indicating confidence in its strategic vision and execution. Adjusted Funds From Operations (AFFO) for Q1 2025 was $66.2 million, or $0.29 per share, while revenue from tenants was $132.4 million, a decrease from the prior year due to asset dispositions.
As of March 31, 2025, GNL's portfolio consisted of 1,045 net lease properties, totaling 51.3 million rentable square feet. The company's liquidity stood at $499.1 million, with $1.4 billion of capacity under its revolving credit facility, and its weighted average interest rate was 4.2%.
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