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Dec 31, 2020
Global Net Lease Q4 2020 Earnings Report
Global Net Lease's financial performance for Q4 2020 was reported, highlighting revenue growth and strategic acquisitions.
Key Takeaways
Global Net Lease reported a 13.5% increase in revenue to $87.0 million, with a net loss of $13.3 million, and AFFO of $40.1 million for the fourth quarter of 2020. The company completed acquisitions of seven properties for $292.8 million and maintained a 99% rent collection rate.
Revenue from tenants grew 13.5% to $87.0 million compared to Q4 2019.
Net loss attributable to common stockholders was $13.3 million, or $0.15 per diluted share.
AFFO was $40.1 million, compared to $39.9 million in the prior year fourth quarter.
Acquired seven properties for an aggregate contract purchase price of $292.8 million.
Forward Guidance
Based on early lease extensions and the strength of the portfolio, GNL is positioned to continue building success in the coming year and beyond.
Positive Outlook
- Portfolio is 99.7% leased.
- Weighted-average remaining lease term of 8.5 years.
- 67% of portfolio annualized straight-line rent derived from investment grade and implied investment grade rated tenants.
- 64% U.S. and 36% Europe (based on annualized straight-line rent).
- 46% Office, 49% Industrial / Distribution and 5% Retail (based on an annualized straight-line rent).
Challenges Ahead
- Potential adverse effects of the ongoing global COVID-19 pandemic.
- Actions taken to contain or treat COVID-19, on the Company.
- Actions taken to contain or treat COVID-19, on the Company's tenants.
- Actions taken to contain or treat COVID-19, on the global economy and financial markets.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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