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Jun 30, 2020
Global Net Lease Q2 2020 Earnings Report
Global Net Lease reported an increase in revenue and NOI, but a decrease in net income attributable to common stockholders and AFFO per share, while maintaining a high rent collection rate and making strategic acquisitions and financing transactions.
Key Takeaways
Global Net Lease reported a 6.6% increase in revenue to $81.1 million and a 6.1% increase in NOI to $73.3 million compared to the second quarter of 2019. However, net income attributable to common stockholders decreased to $1.0 million, and AFFO per share was $0.44. The company collected 98% of second quarter cash rents and acquired eight properties for $31 million. They also completed several financing transactions at historically low interest rates.
Revenue increased by 6.6% year-over-year, reaching $81.1 million.
Net income attributable to common stockholders decreased to $1.0 million.
98% of second quarter cash rents were collected as of July 31, 2020.
Eight industrial and office properties were acquired for $31 million at an 8.45% weighted-average capitalization rate.
Forward Guidance
The company did not provide specific forward guidance in this earnings report.
Historical Earnings Impact
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