Tearsheet

Global Net Lease (GNL)

Market Price (2/18/2026): $9.84 | Market Cap: $2.2 Bil
Sector: Real Estate | Industry: Diversified REITs

Global Net Lease (GNL)

Market Price (2/18/2026): $9.84
Market Cap: $2.2 Bil
Sector: Real Estate
Industry: Diversified REITs

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0	Strong revenue growth Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 18%	Trading close to highs Dist 52W High is -1.2%, Dist 3Y High is -1.2%	Debt is significant Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 128%
1	Attractive cash flow generation CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 32%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 27%	Weak multi-year price returns 3Y Excs Rtn is -66%	Expensive valuation multiples P/EBITPrice/EBIT or Price/(Operating Income) ratio is 40x
2	Attractive yield Dividend Yield is 9.8%, FCF Yield is 9.3%		Weak revenue growth Rev Chg QQuarterly Revenue Change % is -13%
3	Low stock price volatility Vol 12M is 26%		Yield minus risk free rate is negative ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -7.3%
4	Megatrend and thematic drivers Megatrends include E-commerce Logistics & Data Centers, Sustainable & Green Buildings, and Automation & Robotics. Themes include E-commerce Logistics REITs, Show more.		Key risks GNL key risks include [1] execution challenges with its aggressive deleveraging strategy reliant on significant asset sales, Show more.

0	Strong revenue growth Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 18%
1	Attractive cash flow generation CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 32%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 27%
2	Attractive yield Dividend Yield is 9.8%, FCF Yield is 9.3%
3	Low stock price volatility Vol 12M is 26%
4	Megatrend and thematic drivers Megatrends include E-commerce Logistics & Data Centers, Sustainable & Green Buildings, and Automation & Robotics. Themes include E-commerce Logistics REITs, Show more.
5	Trading close to highs Dist 52W High is -1.2%, Dist 3Y High is -1.2%
6	Weak multi-year price returns 3Y Excs Rtn is -66%
7	Debt is significant Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 128%
8	Expensive valuation multiples P/EBITPrice/EBIT or Price/(Operating Income) ratio is 40x
9	Weak revenue growth Rev Chg QQuarterly Revenue Change % is -13%
10	Yield minus risk free rate is negative ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -7.3%
11	Key risks GNL key risks include [1] execution challenges with its aggressive deleveraging strategy reliant on significant asset sales, Show more.

Valuation, Metrics & Events

	2/18/26	2025	2024	2023	2022	2021
Share Price CYE	$9.84	$8.60	$7.30	$9.95	$12.57	$15.28
Market Cap CYE ($ Bil)	2.2	1.9	1.7	1.3	1.3	1.6
Total Debt ($ Bil)	3.0	3.0	4.9	5.2	2.4	2.4
Total Cash ($ Bil)	0.2	0.2	0.1	0.1	0.1	0.2
Enterprise Value ($ Bil)	5.0	4.9	6.6	6.5	3.7	4.0
Valuation Ratios
P/S TTM	2.9	2.5	2.6	3.2	3.3	4.2
P/EBIT TTM	40.1	35.0	10.7	-30.3	9.8	15.0
P/E TTM	-7.8	-6.8	-9.7	-7.4	59.6	273.6
P/FCF TTM	10.7	9.4	7.3	18.6	7.5	8.2
Sector Ratios
P/S TTM (Sector)	4.0	4.0	4.5	4.5	4.7	7.1
P/EBIT TTM (Sector)	12.6	12.3	13.2	14.1	13.6	19.6
P/E TTM (Sector)	21.4	19.9	22.0	21.2	19.5	22.9
P/FCF TTM (Sector)	11.9	12.1	13.3	12.2	12.0	16.9

	2/18/26	2025	2024
Share Price CYE	$9.84	$8.60	$7.30
Market Cap CYE ($ Bil)	2.2	1.9	1.7
Total Debt ($ Bil)	3.0	3.0	4.9
Total Cash ($ Bil)	0.2	0.2	0.1
Enterprise Value ($ Bil)	5.0	4.9	6.6
Valuation Ratios
P/S TTM	2.9	2.5	2.6
P/EBIT TTM	40.1	35.0	10.7
P/E TTM	-7.8	-6.8	-9.7
P/FCF TTM	10.7	9.4	7.3
Sector Ratios
P/S TTM (Sector)	4.0	4.0	4.5
P/EBIT TTM (Sector)	12.6	12.3	13.2
P/E TTM (Sector)	21.4	19.9	22.0
P/FCF TTM (Sector)	11.9	12.1	13.3

	GNL	S&P 500
REVENUE GROWTH
Rev LTM ($ Bil)	0.8
Rev Chg Q	-12.7%	7.5%
Rev Chg LTM	17.6%	6.5%
Rev Chg 3Y Avg	26.4%	5.6%
PROFITABILITY	POOR
Op Inc LTM ($ Bil)	0.2
CFO LTM ($ Bil)	0.2
Net Inc LTM ($ Bil)	-0.3
Op Mgn LTM	29.2%	18.8%
CFO/Rev LTM	32.2%	20.7%
Net Inc Mgn	-37.3%	12.8%
VALUATION	MODERATE
P/S	2.9	3.4
P/CFO	9.0	16.4
P/FCF	10.7	21.5
P/E	-7.8	25.0

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Metric	Value	Date	Source
Portfolio Occupancy Rate	97%	9302025	Link
Weighted-Average Remaining Lease Term	6.2 years	9302025	Link
Number of Properties	852	9302025	Link
Rentable Square Feet	approximately 43 million	9302025	Link
Percentage of Leases with Contractual Rent Increases	87%	9302025	Link
Percentage of Rent from Investment Grade & Implied Investment Grade Tenants	60%	9302025	Link
Interest Coverage Ratio	2.9 times	9302025	Link
Net Debt to Adjusted EBITDA Ratio	7.2x	9302025	Link
Renewal Leasing Spread	26.4%	9302025	Link

Upcoming
2/25/2026	Earnings Release	Rev: $118 Mil (E) EPS: $0.21 (E)
5/05/2026	Earnings Release	Rev: - EPS: -

Price Chart

Return (1M):

Why The Stock Moved

Qualitative Assessment

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Global Net Lease (GNL) stock has gained about 30% since 10/31/2025 because of the following key factors:

1. Strategic Transformation and Significant Deleveraging. Global Net Lease undertook a major strategic transformation throughout 2025, completing substantial multi-tenant portfolio sales, including a $1.8 billion sale by Q2 2025 and an additional £250 million (approximately $337.8 million) McLaren campus sale in December 2025. These significant asset dispositions allowed for a substantial reduction in the company's debt and supported its transition to a pure-play single-tenant net lease real estate investment trust (REIT), enhancing its balance sheet and improving liquidity.

2. Multiple Credit Rating Upgrades. Following its deleveraging efforts, Global Net Lease received credit rating upgrades from key agencies. S&P Global upgraded GNL's corporate credit rating from BB to BB+ and its unsecured notes to an investment-grade BBB- by June 2025. Fitch also upgraded GNL to an investment-grade BBB- in October 2025, citing accelerated deleveraging and improved portfolio quality. These upgrades signaled enhanced financial stability and reduced risk, positively impacting investor confidence.

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Stock Movement Drivers

Fundamental Drivers

The 31.9% change in GNL stock from 10/31/2025 to 2/17/2026 was primarily driven by a 33.8% change in the company's P/S Multiple.

(LTM values as of)	10312025	2172026	Change
Stock Price ($)	7.46	9.84	31.9%
Change Contribution By:
Total Revenues ($ Mil)	769	751	-2.3%
P/S Multiple	2.2	2.9	33.8%
Shares Outstanding (Mil)	223	221	0.9%
Cumulative Contribution			31.9%

LTM = Last Twelve Months as of date shown

Market Drivers

10/31/2025 to 2/17/2026

	Return	Correlation
GNL	31.9%
Market (SPY)	0.1%	-9.9%
Sector (XLRE)	7.4%	30.2%

Fundamental Drivers

The 47.4% change in GNL stock from 7/31/2025 to 2/17/2026 was primarily driven by a 48.6% change in the company's P/S Multiple.

(LTM values as of)	7312025	2172026	Change
Stock Price ($)	6.68	9.84	47.4%
Change Contribution By:
Total Revenues ($ Mil)	790	751	-4.8%
P/S Multiple	1.9	2.9	48.6%
Shares Outstanding (Mil)	230	221	4.2%
Cumulative Contribution			47.4%

LTM = Last Twelve Months as of date shown

Market Drivers

7/31/2025 to 2/17/2026

	Return	Correlation
GNL	47.4%
Market (SPY)	8.3%	1.9%
Sector (XLRE)	6.9%	38.0%

Fundamental Drivers

The 51.1% change in GNL stock from 1/31/2025 to 2/17/2026 was primarily driven by a 23.1% change in the company's P/S Multiple.

(LTM values as of)	1312025	2172026	Change
Stock Price ($)	6.51	9.84	51.1%
Change Contribution By:
Total Revenues ($ Mil)	639	751	17.6%
P/S Multiple	2.3	2.9	23.1%
Shares Outstanding (Mil)	230	221	4.3%
Cumulative Contribution			51.1%

LTM = Last Twelve Months as of date shown

Market Drivers

1/31/2025 to 2/17/2026

	Return	Correlation
GNL	51.1%
Market (SPY)	14.5%	33.2%
Sector (XLRE)	8.6%	54.5%

Fundamental Drivers

The -2.5% change in GNL stock from 1/31/2023 to 2/17/2026 was primarily driven by a -53.0% change in the company's Shares Outstanding (Mil).

(LTM values as of)	1312023	2172026	Change
Stock Price ($)	10.10	9.84	-2.5%
Change Contribution By:
Total Revenues ($ Mil)	391	751	91.9%
P/S Multiple	2.7	2.9	8.2%
Shares Outstanding (Mil)	104	221	-53.0%
Cumulative Contribution			-2.5%

LTM = Last Twelve Months as of date shown

Market Drivers

1/31/2023 to 2/17/2026

	Return	Correlation
GNL	-2.5%
Market (SPY)	74.2%	36.6%
Sector (XLRE)	18.8%	66.7%

Return vs. Risk

Price Returns Compared

	2021	2022	2023	2024	2025	2026	Total [1]
Returns
GNL Return	-2%	-7%	-9%	-15%	32%	17%	8%
Peers Return	24%	-4%	-2%	6%	9%	13%	54%
S&P 500 Return	27%	-19%	24%	23%	16%	-0%	82%
Monthly Win Rates [3]
GNL Win Rate	50%	42%	50%	25%	67%	100%
Peers Win Rate	62%	52%	42%	57%	58%	100%
S&P 500 Win Rate	75%	42%	67%	75%	67%	50%
Max Drawdowns [4]
GNL Max Drawdown	-12%	-27%	-30%	-29%	-3%	0%
Peers Max Drawdown	-6%	-19%	-21%	-11%	-5%	-1%
S&P 500 Max Drawdown	-1%	-25%	-1%	-2%	-15%	-1%

[1] Cumulative total returns since the beginning of 2021
[2] Peers: O, WPC, NNN, ADC, EPRT.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 2/17/2026 (YTD)

How Low Can It Go

Unique Key	Event	GNL	S&P 500
2022 Inflation Shock	2022 Inflation Shock
2022 Inflation Shock% Loss	% Loss	-61.9%	-25.4%
2022 Inflation Shock% Gain to Breakeven	% Gain to Breakeven	162.5%	34.1%
2022 Inflation ShockTime to Breakeven	Time to Breakeven	Not Fully Recovered days	464 days
2020 Covid Pandemic	2020 Covid Pandemic
2020 Covid Pandemic% Loss	% Loss	-58.4%	-33.9%
2020 Covid Pandemic% Gain to Breakeven	% Gain to Breakeven	140.2%	51.3%
2020 Covid PandemicTime to Breakeven	Time to Breakeven	Not Fully Recovered days	148 days
2018 Correction	2018 Correction
2018 Correction% Loss	% Loss	-37.4%	-19.8%
2018 Correction% Gain to Breakeven	% Gain to Breakeven	59.7%	24.7%
2018 CorrectionTime to Breakeven	Time to Breakeven	Not Fully Recovered days	120 days

Compare to O, WPC, NNN, ADC, EPRT

In The Past

Global Net Lease's stock fell -61.9% during the 2022 Inflation Shock from a high on 6/2/2021. A -61.9% loss requires a 162.5% gain to breakeven.

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About Global Net Lease (GNL)

Business Description Analogies Products Customers Suppliers Management Key Risks Emerging Threats Market Size Revenue Drivers Capital Allocation

Global Net Lease, Inc. (NYSE: GNL) is a publicly traded real estate investment trust listed on the NYSE focused on acquiring a diversified global portfolio of commercial properties, with an emphasis on sale-leaseback transactions involving single tenant, mission critical income producing net-leased assets across the United States, Western and Northern Europe.

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1. Realty Income (O), but focused on a global and diversified portfolio of net lease commercial properties.

2. Like American Tower (AMT), but owning a global portfolio of office, industrial, and retail buildings rather than cell towers, all leased on long-term net contracts.

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Commercial Property Leasing: Providing long-term, net-leased commercial real estate, primarily industrial, office, and retail properties, to corporate tenants.
Real Estate Investment & Asset Management: Acquiring, managing, and optimizing a diversified portfolio of global commercial properties to generate stable rental income and potential capital appreciation for shareholders.

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Global Net Lease (GNL) primarily sells its services (leasing properties) to other companies rather than individuals. As a net lease Real Estate Investment Trust (REIT), its major customers are the tenants that lease its properties.

Based on their 2023 10-K filing (as of December 31, 2023), GNL's 10 largest tenants by straight-line rent are:

Whirlpool Corporation (WHR)
Dollar General Corporation (DG)
FedEx Corporation (FDX)
ING Groep N.V. (ING)
ArcelorMittal S.A. (MT)
SBM Offshore N.V. (SBMFF)
General Electric Company (GE)
Prologis, Inc. (PLD)
GFL Environmental Inc. (GFL)
T-Mobile US, Inc. (TMUS)

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Michael Weil, Chief Executive Officer, President and Director

Michael Weil was appointed as the sole CEO and President of Global Net Lease, Inc. in April 2024, following the merger with The Necessity Retail REIT, Inc., where he previously served as CEO and President. He has been a member of the Board of Directors of Global Net Lease, Inc. since 2012. Mr. Weil has a history of managing various companies, having also served as Chairman and Managing Director of American Strategic Investment Co. and as CEO of AR Global Investments LLC. His experience includes leadership roles at American Realty Capital-Retail Centers of America, Inc. and American Realty Capital Daily Net Asset Value Trust, Inc. His current employment agreement as CEO and President is effective January 1, 2025, and extends until January 1, 2029.

Christopher Masterson, Chief Financial Officer, Secretary and Treasurer

Christopher Masterson was appointed Chief Financial Officer of Global Net Lease, Inc. in November 2017. Prior to this role, he joined AR Global Investments LLC in February 2013, where he held various senior accounting positions, including Chief Accounting Officer for Global Net Lease, Inc., American Finance Trust, Inc., and American Realty Capital – Retail Centers of America, Inc. Before his time at AR Global, Mr. Masterson gained experience in accounting roles at Goldman Sachs & Co. as a Vice President in Investment Banking Controllers and Merchant Banking Controllers from 2006 to 2013, and as a Senior Associate at KPMG LLP from 2004 to 2006. He also served as Chief Financial Officer at American Strategic Investment Co. from September 2019 to September 2023. Mr. Masterson is a Certified Public Accountant in New York State and holds a B.B.A. in accounting from the University of Notre Dame and an M.B.A. in Finance from NYU Stern School of Business.

Jesse Galloway, Executive Vice President and General Counsel

Jesse Galloway serves as the Executive Vice President and General Counsel for Global Net Lease.

Ori Kravel, Chief Operating Officer

Ori Kravel holds the position of Chief Operating Officer at Global Net Lease.

Jason Slear, Executive Vice President

Jason Slear is an Executive Vice President at Global Net Lease.

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The public company Global Net Lease (GNL) faces several key risks, primarily stemming from its strategic transformation, debt management, and portfolio composition:

Execution Risk of Deleveraging Strategy and Asset Sales: GNL is undergoing an aggressive deleveraging strategy, which involves significant asset sales to reduce debt and reposition as a pure-play single-tenant net-lease REIT. There is a substantial risk associated with the successful execution of these sales. Delays in finalizing the remaining asset sales could strain liquidity, and there's a possibility that assets might need to be sold at suboptimal prices to meet targets or obligations.
Interest Rate Risk and Debt Maturities: Despite a significant portion of GNL's debt being fixed-rate, rising interest rates pose a risk to refinancing costs for its variable-rate debt and upcoming debt maturities. The company has forward debt maturities that require careful management, and an inability to refinance these debts on favorable terms could lead to increased borrowing costs or necessitate asset sales at disadvantageous prices to meet obligations.
Exposure to Office Portfolio and Weak Demand: GNL has considerable exposure to the office property sector. This segment faces significant headwinds due to secular shifts towards remote work and higher interest rates, which threaten occupancy rates, rent growth, and overall property values. This exposure can result in costly vacancies and the potential need to sell properties at reduced values upon lease expirations.

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Global Net Lease (GNL) primarily invests in industrial and distribution, office, and retail properties across the United States and Europe.

Addressable Market Sizes for Global Net Lease (GNL)

Industrial and Distribution Properties:

Global Logistics Real Estate Market: The global logistics real estate market was valued at approximately USD 385.2 billion in 2024 and is anticipated to reach USD 625.8 billion by 2033.
North America (including U.S.): North America dominates the global logistics real estate market, representing approximately 40% of worldwide value. Based on a global market size of USD 385.2 billion in 2024, the estimated addressable market for North America is approximately USD 154.08 billion.
Europe: null

Office Properties:

Global Office Real Estate Market: The global office real estate market was valued at USD 2.5 trillion in 2024 and is expected to reach USD 3.4 trillion by 2030.
U.S. Office Real Estate Market: The U.S. Office Real Estate Market size is estimated at USD 369.58 billion in 2025, and is expected to reach USD 436.81 billion by 2030.
Europe Office Real Estate Market: The Europe office real estate market was valued at USD 377.20 billion in 2025 and is projected to reach USD 460.12 billion by 2030.

Retail Properties:

U.S. (Net Lease Retail): null
Europe (Net Lease Retail): null

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Global Net Lease (GNL) is expected to drive future revenue growth over the next 2-3 years through several key strategies:

Diversification and Strategic Asset Allocation

GNL is actively transforming into a pure-play single-tenant net lease REIT, focusing on industrial and logistics assets. This strategic shift involves divesting multi-tenant retail and other non-core properties, which, while initially leading to revenue declines, is intended to build a higher-quality, simplified portfolio with more resilient revenue streams in higher-growth sectors. The company has significantly reduced its exposure to less favorable sectors, such as gas and convenience stores, to concentrate on assets more aligned with its long-term vision.

Reinvestment of Disposition Proceeds into Accretive Opportunities

A core component of GNL's strategy involves significant asset dispositions, with proceeds being used to reduce debt and improve portfolio quality. The capital generated from these sales is crucial for reinvestment into accretive opportunities, which are anticipated to reverse revenue declines and contribute to future growth. This capital recycling is essential for strengthening the balance sheet and enabling strategic acquisitions in their target industrial and logistics sectors.

Contractual Rent Escalations and Lease Renewals

GNL's portfolio benefits from contractual rent escalations within its leases, with an average annual contractual rental increase of 1.3%, excluding CPI-linked leases that have historically seen higher increases. The company also actively focuses on tenant retention and lease-up initiatives. Recent lease renewals have been completed with positive leasing spreads, indicating GNL's ability to increase rental income upon re-leasing or renewing existing properties. Minimal lease rollovers through 2029 further contribute to revenue stability.

High Portfolio Occupancy

Maintaining a high portfolio occupancy rate is a direct driver of consistent rental revenue. GNL has demonstrated robust operational performance with a portfolio occupancy of 97% in Q3 2025 and 95% in Q1 2025, reflecting its ability to keep its properties leased and generating income. Improvements in the overall portfolio leased rate to 98% further indicate strengthening occupancy and rental income potential.

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Share Repurchases

A new share repurchase program was authorized on February 20, 2025, allowing for the opportunistic repurchase of up to $300 million of outstanding common stock.
As of August 1, 2025, Global Net Lease repurchased 10.2 million shares of common stock for a total of $76.9 million under the February 2025 program.
Year-to-date as of the third quarter of 2025, the company repurchased 12.1 million shares for $91.7 million.

Share Issuance

On November 7, 2025, GNL entered into an At-The-Market (ATM) Equity Offering Sales Agreement, which permits the sale of common stock with an aggregate gross sales price of up to $300.0 million.
The company plans to use the net proceeds from any future share sales for general corporate purposes, including property acquisitions, debt repayment, and working capital.
Previous ATM programs from 2019, allowing for the issuance of up to $285.0 million of common stock and up to $170.0 million of Series B preferred stock, were terminated on November 4, 2025.

Capital Expenditures

The sale of GNL's multi-tenant portfolio is expected to generate additional cash savings from a substantial reduction in annual capital expenditures.
This reduction in capital expenditures is attributed to the elimination of operational complexities associated with owning multi-tenant retail properties, as GNL transitions to a pure-play single-tenant net lease REIT.

Interactive Breakdown

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Better Bets vs. Global Net Lease (GNL)

INDUSTRY: Diversified REITs

Higher Rev Chg 3Y Avg | Lower P/S (Values for GNL: 26.4% | 2.9x)

MKZR (27.3% | 0.3x)

Mackenzie Realty Capital

GIPR (29.7% | 0.3x)

Generation Income Properties

Higher Rev Chg LTM (Value for GNL: 17.6%)

MKZR (26.4%)

Higher Rev Chg 3Y Avg | Lower P/S (Values for GNL: 26.4% | 2.9x)

REAX (75.5% | 0.3x)

Real Brokerage

BHM (28.5% | 0.7x)

Bluerock Homes Trust

MKZR (27.3% | 0.3x)

Mackenzie Realty Capital

GIPR (29.7% | 0.3x)

Generation Income Properties

LRHC (53.9% | 0.0x)

La Rosa

Higher Rev Chg LTM (Value for GNL: 17.6%)

CTRE (61.8%)

CareTrust REIT

WELL (35.8%)

Welltower

SUI (31.4%)

Sun Communities

CCI (28.0%)

Crown Castle

VTR (18.5%)

Ventas

Higher Rev Chg 3Y Avg (Value for GNL: 26.4%)

SKYH (156.1%)

Sky Harbour

REAX (75.5%)

Real Brokerage

AEI (64.0%)

Alset

VRE (38.7%)

Veris Residential

CTRE (27.6%)

CareTrust REIT

Higher Op Mgn LTM (Value for GNL: 29.2%)

SPG (50.7%)

Simon Property

PSA (46.8%)

Public Storage

AMT (46.4%)

American Tower

O (45.7%)

Realty Income

PLD (38.8%)

Prologis

Higher CFO/Rev LTM (Value for GNL: 32.2%)

SPG (65.3%)

Simon Property

PLD (57.0%)

Prologis

AMT (50.1%)

American Tower

EQIX (42.4%)

Equinix

DLR (39.5%)

Digital Realty Trust

Higher FCF/Rev LTM (Value for GNL: 27.0%)

O (67.1%)

Realty Income

PLD (57.0%)

Prologis

SPG (50.7%)

Simon Property

DLR (39.5%)

Digital Realty Trust

AMT (35.3%)

American Tower

Higher Total Yield (Value for GNL: -3.1%)

AMT (6.7%)

American Tower

SPG (4.1%)

Simon Property

EQIX (3.4%)

Equinix

PLD (2.5%)

Prologis

WELL (0.6%)

Welltower

All Other Sectors

Higher Rev Chg 3Y Avg | Lower P/S (Values for GNL: 26.4% | 2.9x)

APO (89.3% | 2.7x)

Apollo Global Management

MFC (33.3% | 1.2x)

Manulife Financial

CCL (33.2% | 1.6x)

Carnival

SLF (322.2% | 1.0x)

Sun Life Financial

ACGL (28.9% | 1.9x)

Arch Capital

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for GNL: 26.4% | 9.9x)

APO (89.3% | 9.1x)

Apollo Global Management

CCL (33.2% | 9.6x)

Carnival

IBKR (48.1% | 3.9x)

Interactive Brokers

PR (48.7% | 6.0x)

Permian Resources

NCLH (43.8% | 6.8x)

Norwegian Cruise Line

Higher Rev Chg LTM (Value for GNL: 17.6%)

NVDA (65.2%)

NVIDIA

MU (45.4%)

Micron Technology

LLY (44.7%)

Eli Lilly

AVGO (23.9%)

Broadcom

META (22.2%)

Meta Platforms

Higher Rev Chg 3Y Avg (Value for GNL: 26.4%)

NVDA (91.6%)

NVIDIA

LLY (32.1%)

Eli Lilly

ANET (29.4%)

Arista Networks

PLTR (29.3%)

Palantir Technologies

MU (28.3%)

Micron Technology

Higher Op Mgn LTM (Value for GNL: 29.2%)

NVDA (58.8%)

NVIDIA

MSFT (46.7%)

Microsoft

META (41.4%)

Meta Platforms

AAPL (32.4%)

Apple

GOOGL (32.0%)

Alphabet

Higher CFO/Rev LTM (Value for GNL: 32.2%)

META (57.6%)

Meta Platforms

MSFT (52.5%)

Microsoft

NVDA (44.4%)

NVIDIA

AVGO (43.1%)

Broadcom

GOOGL (40.9%)

Alphabet

Higher FCF/Rev LTM (Value for GNL: 27.0%)

V (55.4%)

Visa

MA (50.1%)

Mastercard

AVGO (42.1%)

Broadcom

NVDA (41.3%)

NVIDIA

AAPL (28.3%)

Apple

Higher Total Yield (Value for GNL: -3.1%)

MSFT (4.9%)

Microsoft

GOOGL (3.9%)

Alphabet

AMZN (3.6%)

Amazon.com

AAPL (3.4%)

Apple

NVDA (2.2%)

NVIDIA

Best Bets in Real Estate

What You Pay

P/EBIT (Value for GNL: 40.1x)

CTRE (24.8x)

CareTrust REIT

WPC (20.5x)

W.P. Carey

NNN (14.2x)

NNN REIT

OHI (16.9x)

Omega Healthcare Investors

EPRT (18.0x)

Essential Properties Realty Trust

GLPI (11.3x)

Gaming and Leisure Properties

EPR (13.5x)

EPR Properties

FCPT (16.2x)

Four Corners Property Trust

VICI (8.7x)

VICI Properties

ESS (13.0x)

Essex Property Trust

P/E (Value for GNL: -7.8x)

CTRE (28.6x)

CareTrust REIT

WPC (35.1x)

W.P. Carey

NNN (21.7x)

NNN REIT

OHI (24.1x)

Omega Healthcare Investors

EPRT (25.8x)

Essential Properties Realty Trust

GLPI (17.3x)

Gaming and Leisure Properties

EPR (22.3x)

EPR Properties

FCPT (23.7x)

Four Corners Property Trust

VICI (11.4x)

VICI Properties

ESS (19.3x)

Essex Property Trust

What You Get

Rev Chg 3Y Avg (Value for GNL: 26.4%)

CTRE (27.6%)

CareTrust REIT

WPC (5.7%)

W.P. Carey

NNN (6.2%)

NNN REIT

OHI (10.7%)

Omega Healthcare Investors

EPRT (25.1%)

Essential Properties Realty Trust

GLPI (7.4%)

Gaming and Leisure Properties

EPR (3.9%)

EPR Properties

FCPT (9.7%)

Four Corners Property Trust

VICI (23.5%)

VICI Properties

ESS (6.0%)

Essex Property Trust

Rev Chg LTM (Value for GNL: 17.6%)

CTRE (61.8%)

CareTrust REIT

WPC (8.4%)

W.P. Carey

NNN (6.6%)

NNN REIT

OHI (13.2%)

Omega Healthcare Investors

EPRT (24.8%)

Essential Properties Realty Trust

GLPI (4.4%)

Gaming and Leisure Properties

EPR (4.2%)

EPR Properties

FCPT (9.7%)

Four Corners Property Trust

VICI (4.3%)

VICI Properties

ESS (6.9%)

Essex Property Trust

Rev Chg Q (Value for GNL: -12.7%)

CTRE (72.8%)

CareTrust REIT

WPC (9.4%)

W.P. Carey

NNN (9.1%)

NNN REIT

OHI (14.3%)

Omega Healthcare Investors

EPRT (25.2%)

Essential Properties Realty Trust

GLPI (3.2%)

Gaming and Leisure Properties

EPR (4.3%)

EPR Properties

FCPT (10.7%)

Four Corners Property Trust

VICI (4.4%)

VICI Properties

ESS (5.0%)

Essex Property Trust

FCF/Rev 3Y Avg (Value for GNL: 26.8%)

CTRE (92.8%)

CareTrust REIT

WPC (84.0%)

W.P. Carey

NNN (73.0%)

NNN REIT

OHI (70.0%)

Omega Healthcare Investors

EPRT (69.1%)

Essential Properties Realty Trust

GLPI (65.4%)

Gaming and Leisure Properties

EPR (63.9%)

EPR Properties

FCPT (61.7%)

Four Corners Property Trust

VICI (61.0%)

VICI Properties

ESS (49.8%)

Essex Property Trust

[1] Choosing top 10 best bets from each sector quarterly is an alpha producing strategy vs sector benchmark
[2] Historical annualized return of 9.6%, alpha of 3.1%, and sharpe of 0.44

Latest Trefis Analyses

	Title	Date
0	DASHBOARDS
1	Global Net Lease Earnings Notes	12/16/2025
2	Would You Still Hold Global Net Lease Stock If It Fell 30%?	10/17/2025
3	Global Net Lease (GNL) Revenue Comparison	08/08/2025
4	Global Net Lease (GNL) Operating Income Comparison	08/08/2025
5	Global Net Lease (GNL) Net Income Comparison	08/08/2025
6	Global Net Lease (GNL) Operating Cash Flow Comparison	08/08/2025
7	Global Net Lease (GNL) EBITDA Comparison	08/08/2025
8	Global Net Lease (GNL) Debt Comparison	08/08/2025
9	Global Net Lease (GNL) Tax Expense Comparison	08/08/2025
10	Why Global Net Lease Stock Moved: GNL Stock Has Gained 28% Since 2024 Fiscal End, Primarily Due To Favorable Change In Price To Sales Multiple (P/S)	08/08/2025

	Title
0	ARTICLES

Trade Ideas

Select ideas related to GNL.

Unique Key

Recent Active Movers

Top Gainers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
MASI	Masimo	9.4	34.2%	34.3%
IRON	Disc Medicine	2.3	17.2%	-17.4%
KNF	Knife River	5.3	16.3%	33.6%
NESR	National Energy Services Reunited	2.4	16.0%	54.3%
EYPT	EyePoint	1.0	15.2%	-18.4%
WING	Wingstop	7.0	13.6%	5.6%
NCLH	Norwegian Cruise Line	10.9	12.1%	8.0%
DFIN	Donnelley Financial Solutions	1.2	12.0%	-6.1%
MLTX	MoonLake Immunotherapeutics	1.1	11.1%	32.9%
KD	Kyndryl	3.1	11.0%	-48.8%

Top Losers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
OCUL	Ocular Therapeutix	1.3	-21.3%	-42.4%
CRSR	Corsair Gaming	0.6	-18.2%	-6.5%
FELE	Franklin Electric	4.1	-14.7%	-2.4%
GPC	Genuine Parts	17.5	-14.6%	2.3%
SXC	SunCoke Energy	0.6	-13.9%	-3.0%
HRI	Herc	5.0	-13.7%	0.7%
GETY	Getty Images	0.4	-12.8%	-35.0%
TMQ	Trilogy Metals	0.6	-12.6%	-14.4%
IPGP	IPG Photonics	5.7	-12.4%	88.4%
SSTK	Shutterstock	0.5	-11.9%	-20.4%

Top Gainers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
FSLY	Fastly	2.6	102.5%	73.5%
NKTR	Nektar Therapeutics	1.4	99.1%	74.6%
EVMN	Evommune	0.9	83.6%	82.2%
ICHR	Ichor	1.6	38.0%	155.4%
TPH	Tri Pointe Homes	4.0	32.1%	47.1%
CGNX	Cognex	9.6	30.6%	58.7%
MASI	Masimo	9.4	29.6%	34.3%
WOLF	Wolfspeed	3.0	28.4%	9.8%
KD	Kyndryl	3.1	28.3%	-48.8%
AMSC	American Superconductor	1.6	27.3%	27.4%

Top Losers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
UPB	Upstream Bio	0.4	-68.1%	-69.3%
FTRE	Fortrea	0.9	-34.8%	-43.8%
RPD	Rapid7	0.5	-34.3%	-53.5%
ALAB	Astera Labs	20.7	-34.1%	-25.6%
U	Unity Software	7.8	-33.3%	-58.4%
ANGI	Angi	0.4	-32.2%	-38.7%
NSP	Insperity	0.9	-32.1%	-35.6%
UPWK	Upwork	1.7	-32.1%	-35.6%
BTDR	Bitdeer Technologies	2.0	-28.6%	-15.4%
LEU	Centrus Energy	3.7	-27.8%	-17.9%

Top Gainers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
CRVS	Corvus Pharmaceuticals	1.4	145.0%	127.1%
NKTR	Nektar Therapeutics	1.4	108.8%	74.6%
FSLY	Fastly	2.6	92.6%	73.5%
RAPT	RAPT Therapeutics	1.6	79.7%	70.8%
LITE	Lumentum	42.2	74.9%	62.9%
IPGP	IPG Photonics	5.7	68.5%	88.4%
PLSE	Pulse Biosciences	1.6	67.9%	72.4%
MOD	Modine Manufacturing	11.4	64.4%	62.4%
ICHR	Ichor	1.6	63.3%	155.4%
VAL	Valaris	6.3	62.6%	76.5%

Top Losers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
UPB	Upstream Bio	0.4	-73.0%	-69.3%
U	Unity Software	7.8	-58.3%	-58.4%
FUBO	FuboTV	0.5	-50.0%	-47.2%
KD	Kyndryl	3.1	-49.8%	-48.8%
HIMS	Hims & Hers Health	3.7	-47.9%	-49.9%
NRGV	Energy Vault	0.5	-47.8%	-31.7%
RPD	Rapid7	0.5	-46.8%	-53.5%
NSP	Insperity	0.9	-46.2%	-35.6%
PGY	Pagaya Technologies	1.0	-46.1%	-41.1%
PAR	PAR Technology	0.8	-46.1%	-42.9%

Peer Comparisons

Peers to compare with:

Financials

	GNL	O	WPC	NNN	ADC	EPRT	Median
Name	Global N.	Realty I.	W.P. Car.	NNN REIT	Agree Re.	Essentia.
Mkt Price	9.84	66.49	74.16	44.79	79.17	32.69	55.64
Mkt Cap	2.2	60.8	16.4	8.5	9.1	6.5	8.8
Rev LTM	751	5,612	1,716	926	718	561	839
Op Inc LTM	219	2,564	872	568	347	359	463
FCF LTM	203	3,763	1,282	667	504	381	586
FCF 3Y Avg	168	3,318	1,396	638	443	315	540
CFO LTM	242	3,763	1,282	667	504	381	586
CFO 3Y Avg	211	3,318	1,396	638	443	315	540

Growth & Margins

	GNL	O	WPC	NNN	ADC	EPRT	Median
Name	Global N.	Realty I.	W.P. Car.	NNN REIT	Agree Re.	Essentia.
Rev Chg LTM	17.6%	14.7%	8.4%	6.6%	16.4%	24.8%	15.5%
Rev Chg 3Y Avg	26.4%	21.5%	5.7%	6.2%	18.8%	25.1%	20.1%
Rev Chg Q	-12.7%	9.1%	9.4%	9.1%	18.5%	25.2%	9.3%
QoQ Delta Rev Chg LTM	-2.3%	2.1%	2.3%	2.2%	4.3%	5.7%	2.2%
Op Mgn LTM	29.2%	45.7%	50.8%	61.3%	48.3%	64.0%	49.5%
Op Mgn 3Y Avg	30.9%	42.6%	48.9%	61.9%	48.3%	63.2%	48.6%
QoQ Delta Op Mgn LTM	-0.5%	1.1%	0.3%	-0.2%	0.4%	0.4%	0.3%
CFO/Rev LTM	32.2%	67.1%	74.7%	72.0%	70.2%	67.9%	69.0%
CFO/Rev 3Y Avg	34.5%	69.5%	84.0%	73.0%	71.0%	69.1%	70.2%
FCF/Rev LTM	27.0%	67.1%	74.7%	72.0%	70.2%	67.9%	69.0%
FCF/Rev 3Y Avg	26.8%	69.5%	84.0%	73.0%	71.0%	69.1%	70.2%

Valuation

	GNL	O	WPC	NNN	ADC	EPRT	Median
Name	Global N.	Realty I.	W.P. Car.	NNN REIT	Agree Re.	Essentia.
Mkt Cap	2.2	60.8	16.4	8.5	9.1	6.5	8.8
P/S	2.9	10.8	9.5	9.1	12.6	11.6	10.2
P/EBIT	40.1	28.4	20.5	14.2	26.6	18.0	23.6
P/E	-7.8	63.2	35.1	21.7	44.5	25.8	30.4
P/CFO	9.0	16.1	12.8	12.7	18.0	17.2	14.4
Total Yield	-3.1%	6.3%	7.7%	9.8%	6.0%	7.4%	6.9%
Dividend Yield	9.8%	4.7%	4.8%	5.2%	3.7%	3.6%	4.8%
FCF Yield 3Y Avg	9.9%	7.2%	10.6%	8.4%	6.1%	6.1%	7.8%
D/E	1.4	0.5	0.5	0.6	0.4	0.4	0.5
Net D/E	1.3	0.5	0.5	0.6	0.4	0.4	0.5

Returns

	GNL	O	WPC	NNN	ADC	EPRT	Median
Name	Global N.	Realty I.	W.P. Car.	NNN REIT	Agree Re.	Essentia.
1M Rtn	3.9%	8.7%	5.6%	6.6%	8.6%	6.0%	6.3%
3M Rtn	26.8%	17.6%	12.5%	10.4%	8.3%	6.9%	11.4%
6M Rtn	32.6%	15.8%	16.3%	10.8%	10.1%	8.2%	13.3%
12M Rtn	52.8%	29.0%	33.7%	17.3%	16.3%	8.7%	23.2%
3Y Rtn	0.9%	18.7%	7.5%	12.9%	21.1%	43.2%	15.8%
1M Excs Rtn	7.8%	11.4%	9.1%	9.1%	11.8%	8.5%	9.1%
3M Excs Rtn	24.6%	17.6%	9.8%	9.2%	7.0%	5.7%	9.5%
6M Excs Rtn	31.7%	10.8%	11.0%	5.5%	5.4%	3.6%	8.1%
12M Excs Rtn	39.0%	16.1%	21.4%	4.4%	3.0%	-2.7%	10.2%
3Y Excs Rtn	-65.7%	-49.1%	-56.3%	-52.6%	-41.5%	-16.9%	-50.9%

FDIC Bank Data

$ Mil \| FY: 12/31	LTM	2024	2023	2022	2021	2020	2019
Period End	9/30/2025	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019
Filing Date	11/6/2025	2/27/2025	2/27/2024	2/23/2023	2/24/2022	2/26/2021	2/28/2020
Key Financials
Total Revenue	751	805	515	379	391	330	306
Net Income	-280	-132	-212	12	11	11	46
EPS	-1.43	-0.76	-1.71	-0.09	-0.20	-0.09	0.40
Growth Rates
Total Revenue Growth	17.6%	56.3%	36.0%	-3.2%	18.5%	7.8%	8.5%
Net Income Growth	-61.4%	37.9%	-1862.5%	5.8%	5.5%	-76.8%	326.5%
Margins
Net Income Margin	-37.3%	-16.3%	-41.1%	3.2%	2.9%	3.3%	15.2%
Cash & Debt
Total Cash	165	160	122	103	90	124	270
Total Debt	2,952	4,643	5,292	2,443	2,479	2,324	1,924
Net Debt / (Cash)	2,787	4,484	5,171	2,339	2,389	2,199	1,653
Cash Flows
Net Cash from Operations	242	299	144	182	192	177	146
Free Cash from Operations	203	254	96	152	185	170	129
Returns to Shareholders
Dividends	214	316	233	187	176	172	162
Share Repurchases	84	1	1	1	0	0	-0

$ Mil \| FY: 12/31	2025Q3	2025Q2	2025Q1	2024Q4	2024Q3	2024Q2	2024Q1	2023Q4	2023Q3	2023Q2	2023Q1	2022Q4
Period End	9/30/2025	6/30/2025	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022
Filing Date	11/6/2025	8/7/2025	5/8/2025	2/27/2025	11/6/2024	8/7/2024	5/8/2024	2/27/2024	11/7/2023	8/3/2023	5/10/2023	2/23/2023
Key Financials Quarterly
Total Revenue	121	125	132	373	139	145	148	207	118	96	94	94
Net Income	-60	-24	-189	-7	-66	-36	-24	-49	-136	-26	-1	-13
EPS	-0.32	-0.16	-0.87	-0.08	-0.33	-0.20	-0.15	-0.26	-1.11	-0.30	-0.06	-0.17
Key Financials TTM
Total Revenue TTM	751	769	790	805	639	618	569	515	402	377	376	379
Net Income TTM	-280	-286	-297	-132	-174	-244	-235	-212	-176	-25	1	12
Growth Rates Quarterly
Total Revenue Growth	-12.7%	-14.1%	-10.5%	80.4%	17.3%	51.8%	56.8%	120.0%	27.6%	0.7%	-2.9%	-11.8%
Net Income Growth	8.4%	32.3%	-697.4%	86.6%	51.8%	-35.8%	-2568.7%	-284.3%	-1017.8%	-3567.3%	-108.4%	-352.1%
Margins Quarterly
Net Income Margin	-49.7%	-19.3%	-143.0%	-1.7%	-47.3%	-24.5%	-16.1%	-23.5%	-115.2%	-27.4%	-0.9%	-13.5%
Cash & Debt
Total Cash	165	145	147	160	127	122	132	122	133	101	119	103
Total Debt	2,952	3,032	3,294	4,643	4,889	5,039	5,273	5,292	5,209	2,573	2,548	2,443
Net Debt / (Cash)	2,787	2,888	3,147	4,484	4,761	4,917	5,141	5,171	5,076	2,472	2,429	2,339
Cash Flows Quarterly
FCF from Operations	56	52	59	75	62	70	92	56	4	21	63	22
Cash Flows TTM
FCF from Operations TTM	242	248	266	299	280	222	173	144	110	160	183	182
Returns to Shareholders Quarterly
Dividends	42	43	64	64	63	63	82	82	42	42	42	42
Share Repurchases	7	57	19	0	0	0	0	0	1	0	-0	-0
Return on Invested Capital (ROIC) Quarterly
ROIC	2.7%	2.9%	2.3%	3.4%	2.5%	2.4%	2.4%	2.3%	1.2%	2.0%	2.4%	2.2%
Return on Invested Capital (ROIC) TTM
ROIC TTM	3.1%	3.2%	3.1%	2.8%	2.5%	2.1%	1.7%	1.5%	1.2%	2.2%	0.1%	1.3%

Segment Financials

Revenue by Segment

$ Mil	2024	2023	2022	2021	2020
Revenue from tenants			391	330	306
Total			391	330	306

Assets by Segment

$ Mil	2024	2023
Industrial & Distribution	2,480	2,132
Multi-Tenant Retail	2,174	0
Single-Tenant Retail	1,688	107
Office	1,231	1,357
Prepaid expenses and other assets	122	64
Cash and cash equivalents	122	103
Unbilled straight line rent	84	73
Operating lease right-of-use asset	77	49
Goodwill and other intangible assets, net	47	21
Restricted cash	41	1
Deferred financing costs, net	15	13
Derivative assets, at fair value	11	37
Deferred tax assets	5	4
Assets held for sale	3
Due from related parties		0
Total	8,099	3,962

Price Behavior

Price Behavior

Market Price	$9.84
Market Cap ($ Bil)	2.2
First Trading Date	06/02/2015
Distance from 52W High	-1.2%
	50 Days	200 Days
DMA Price	$8.92	$7.74
DMA Trend	up	up
Distance from DMA	10.4%	27.1%
	3M	1YR
Volatility	17.8%	26.2%
Downside Capture	-99.00	6.26
Upside Capture	54.13	48.80
Correlation (SPY)	6.9%	32.6%

GNL Betas & Captures as of 1/31/2026

	1M	2M	3M	6M	1Y	3Y
Beta	0.30	-0.07	-0.22	0.00	0.46	0.74
Up Beta	0.44	0.27	-0.06	0.38	0.56	0.73
Down Beta	0.41	0.47	0.05	-0.01	0.50	0.63
Up Capture	142%	44%	38%	40%	40%	41%
Bmk +ve Days	11	22	34	71	142	430
Stock +ve Days	11	21	32	64	119	362
Down Capture	-127%	-162%	-127%	-88%	22%	97%
Bmk -ve Days	9	19	27	54	109	321
Stock -ve Days	8	18	26	55	119	369

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively

Based On 1-Year Data

	Annualized Return	Annualized Volatility	Sharpe Ratio	Correlation with GNL
GNL	51.2%	26.1%	1.55	-
Sector ETF (XLRE)	6.5%	16.5%	0.21	54.3%
Equity (SPY)	13.0%	19.4%	0.51	32.6%
Gold (GLD)	67.2%	25.5%	1.99	11.5%
Commodities (DBC)	5.2%	16.8%	0.13	18.7%
Real Estate (VNQ)	7.8%	16.6%	0.28	57.3%
Bitcoin (BTCUSD)	-28.8%	44.9%	-0.62	17.9%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Based On 5-Year Data

	Annualized Return	Annualized Volatility	Sharpe Ratio	Correlation with GNL
GNL	0.2%	28.7%	0.03	-
Sector ETF (XLRE)	6.1%	19.0%	0.23	66.6%
Equity (SPY)	13.3%	17.0%	0.62	43.2%
Gold (GLD)	21.3%	17.1%	1.02	14.8%
Commodities (DBC)	10.2%	18.9%	0.42	14.0%
Real Estate (VNQ)	5.3%	18.8%	0.19	70.8%
Bitcoin (BTCUSD)	8.2%	57.2%	0.36	16.7%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Based On 10-Year Data

	Annualized Return	Annualized Volatility	Sharpe Ratio	Correlation with GNL
GNL	3.3%	33.4%	0.19	-
Sector ETF (XLRE)	8.3%	20.4%	0.36	66.2%
Equity (SPY)	15.8%	17.9%	0.76	52.8%
Gold (GLD)	14.8%	15.6%	0.79	8.8%
Commodities (DBC)	8.0%	17.6%	0.37	21.4%
Real Estate (VNQ)	6.8%	20.7%	0.29	72.0%
Bitcoin (BTCUSD)	68.5%	66.7%	1.08	15.2%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date	1302026
Short Interest: Shares Quantity	7.9 Mil
Short Interest: % Change Since 1152026	-25.1%
Average Daily Volume	1.9 Mil
Days-to-Cover Short Interest	4.2 days
Basic Shares Quantity	220.9 Mil
Short % of Basic Shares	3.6%

Returns Analyses

	Title
0	Would You Still Hold Global Net Lease Stock If It Fell 30%?

Earnings Returns History

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	Forward Returns
Earnings Date	1D Returns	5D Returns	21D Returns
11/5/2025	5.2%	3.3%	7.0%
8/6/2025	9.1%	12.0%	17.2%
2/27/2025	6.2%	7.7%	6.2%
11/6/2024	0.3%	-5.8%	-10.1%
8/6/2024	-2.3%	-3.1%	5.1%
5/7/2024	0.4%	6.4%	5.8%
2/27/2024	-2.5%	-2.7%	4.0%
11/7/2023	-1.5%	1.4%	10.5%
...
SUMMARY STATS
# Positive	13	12	15
# Negative	10	11	8
Median Positive	2.4%	5.4%	7.0%
Median Negative	-1.5%	-3.7%	-9.6%
Max Positive	9.1%	12.0%	19.5%
Max Negative	-3.1%	-10.7%	-35.2%

	Forward Returns
11/5/2025	5.2%	3.3%	7.0%
8/6/2025	9.1%	12.0%	17.2%
2/27/2025	6.2%	7.7%	6.2%
11/6/2024	0.3%	-5.8%	-10.1%
8/6/2024	-2.3%	-3.1%	5.1%
5/7/2024	0.4%	6.4%	5.8%
2/27/2024	-2.5%	-2.7%	4.0%
11/7/2023	-1.5%	1.4%	10.5%
8/3/2023	0.5%	5.8%	8.0%
5/10/2023	-1.4%	-10.7%	-4.0%
2/23/2023	3.1%	1.0%	-15.4%
11/3/2022	3.3%	3.6%	12.6%
8/4/2022	-2.6%	0.2%	-9.0%
5/5/2022	-0.6%	-7.9%	3.6%
2/24/2022	1.8%	5.0%	7.4%
11/4/2021	-3.1%	-3.8%	-10.6%
8/5/2021	2.4%	-0.6%	-3.9%
5/6/2021	-0.6%	-3.7%	4.6%
2/24/2021	2.4%	-3.0%	-5.0%
11/5/2020	1.0%	10.7%	19.5%
8/5/2020	2.1%	6.6%	6.2%
5/6/2020	-0.6%	-2.9%	18.5%
2/26/2020	-1.0%	-7.6%	-35.2%
SUMMARY STATS
# Positive	13	12	15
# Negative	10	11	8
Median Positive	2.4%	5.4%	7.0%
Median Negative	-1.5%	-3.7%	-9.6%
Max Positive	9.1%	12.0%	19.5%
Max Negative	-3.1%	-10.7%	-35.2%

SEC Filings

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Report Date	Filing Date	Filing
09/30/2025	11/06/2025	10-Q
06/30/2025	08/07/2025	10-Q
03/31/2025	05/08/2025	10-Q
12/31/2024	02/27/2025	10-K
09/30/2024	11/06/2024	10-Q
06/30/2024	08/07/2024	10-Q
03/31/2024	05/08/2024	10-Q
12/31/2023	02/27/2024	10-K
09/30/2023	11/07/2023	10-Q
06/30/2023	08/03/2023	10-Q
03/31/2023	05/10/2023	10-Q
12/31/2022	02/23/2023	10-K
09/30/2022	11/03/2022	10-Q
06/30/2022	08/04/2022	10-Q
03/31/2022	05/05/2022	10-Q
12/31/2021	02/24/2022	10-K

Insider Activity

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#	Owner	Title	Holding	Action	Filing Date	Price	Shares	Transacted Value	Value of Held Shares	Form
1	Weil, Edward M Jr	CEO, President	Direct	Sell	7112025	7.61	150,000	1,141,500	4,444,643	Form
2	Schorsch, Nicholas S		LLC, see footnote	Sell	6132025	7.43	7,103,000	52,805,123	147,995,474	Form
3	Schorsch, Nicholas S		LLC, see footnote	Sell	6132025	7.33	300,000	2,199,060	143,726,046	Form
4	Schorsch, Nicholas S		LLC, see footnote	Sell	5192025	7.99	100,000	799,000	12,217,293	Form
5	Schorsch, Nicholas S		LLC, see footnote	Sell	4042025	7.95	200,000	1,590,000	12,951,130	Form

GNL Trade Sentinel

Core Investment Debate

BULL VIEW

CORE TENSION

PREVAILING SENTIMENT

BEAR VIEW

Next 6 months: Risks and Catalysts

Timeline	Event & Metric To Watch

Key Events in Last 6 Months

Date	Event	Stock Impact

Risk Management

Position Sizing

null

Diversification Alternatives

External Quote Links

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2	SeekingAlpha	ValueLine
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4	CNBC	Etrade
5	MarketWatch	Unusual Whales
6	YCharts	Perplexity Finance
7	FinViz

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Global Net Lease (GNL)

Market Price (2/18/2026): $9.84 | Market Cap: $2.2 BilSector: Real Estate | Industry: Diversified REITs

Global Net Lease (GNL)

Market Price (2/18/2026): $9.84Market Cap: $2.2 BilSector: Real EstateIndustry: Diversified REITs

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

Valuation, Metrics & Events

Price Chart

Why The Stock Moved

Qualitative Assessment

Stock Movement Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Return vs. Risk

Price Returns Compared

How Low Can It Go

In The Past

Preserve Wealth

Asset Allocation

About Global Net Lease (GNL)

Addressable Market Sizes for Global Net Lease (GNL)

Diversification and Strategic Asset Allocation

Reinvestment of Disposition Proceeds into Accretive Opportunities

Contractual Rent Escalations and Lease Renewals

High Portfolio Occupancy

Interactive Breakdown

Better Bets vs. Global Net Lease (GNL)

INDUSTRY: Diversified REITs

Higher Rev Chg 3Y Avg | Lower P/S (Values for GNL: 26.4% | 2.9x)

Higher Rev Chg LTM (Value for GNL: 17.6%)

Higher Rev Chg 3Y Avg (Value for GNL: 26.4%)

Higher Op Mgn LTM (Value for GNL: 29.2%)

Higher CFO/Rev LTM (Value for GNL: 32.2%)

Higher FCF/Rev LTM (Value for GNL: 27.0%)

Higher Total Yield (Value for GNL: -3.1%)

SECTOR: Real Estate

Higher Rev Chg 3Y Avg | Lower P/S (Values for GNL: 26.4% | 2.9x)

Higher Rev Chg LTM (Value for GNL: 17.6%)

Higher Rev Chg 3Y Avg (Value for GNL: 26.4%)

Higher Op Mgn LTM (Value for GNL: 29.2%)

Higher CFO/Rev LTM (Value for GNL: 32.2%)

Higher FCF/Rev LTM (Value for GNL: 27.0%)

Higher Total Yield (Value for GNL: -3.1%)

All Other Sectors

Higher Rev Chg 3Y Avg | Lower P/S (Values for GNL: 26.4% | 2.9x)

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for GNL: 26.4% | 9.9x)

Higher Rev Chg LTM (Value for GNL: 17.6%)

Higher Rev Chg 3Y Avg (Value for GNL: 26.4%)

Higher Op Mgn LTM (Value for GNL: 29.2%)

Higher CFO/Rev LTM (Value for GNL: 32.2%)

Higher FCF/Rev LTM (Value for GNL: 27.0%)

Higher Total Yield (Value for GNL: -3.1%)

Best Bets in Real Estate

P/EBIT (Value for GNL: 40.1x)

P/E (Value for GNL: -7.8x)

Rev Chg 3Y Avg (Value for GNL: 26.4%)

Rev Chg LTM (Value for GNL: 17.6%)

Rev Chg Q (Value for GNL: -12.7%)

FCF/Rev 3Y Avg (Value for GNL: 26.8%)

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Market Price (2/18/2026): $9.84 | Market Cap: $2.2 Bil
Sector: Real Estate | Industry: Diversified REITs

Market Price (2/18/2026): $9.84
Market Cap: $2.2 Bil
Sector: Real Estate
Industry: Diversified REITs