Global Net Lease exceeds 2024 disposition plan

Global Net Lease, Inc. (NYSE: GNL) has made significant progress on its 2024 strategic disposition plan, with completed dispositions totaling $321 million through the second quarter of 2024. This figure includes $62 million of vacant assets, which will eliminate any negative impact on the company's net operating income.

The dispositions have surpassed the company's 2024 guidance, reflecting its commitment to providing value to shareholders by lowering leverage and creating long-term growth. The company intends to use the net proceeds from these dispositions to further reduce outstanding debt and bring its net debt to adjusted EBITDA more in line with its net-leased peers.

Additionally, GNL has successfully addressed the remaining $155 million of outstanding debt previously scheduled to mature in 2024, resulting in zero debt maturities through July 2025.

The company has also furnished a slide detailing the progress of its 2024 strategic disposition plan in a current report on Form 8-K with the Securities and Exchange Commission.

These developments demonstrate GNL's continued efforts to strengthen its financial position and optimize its portfolio of income-producing net lease assets across the United States, and western and northern Europe. As a result of these announcements, the company's shares have moved -0.7% on the market, and are now trading at a price of $7.5. Check out the company's full 8-K submission here.

The above analysis is intended for educational purposes only and was performed on the basis of publicly available data. It is not to be construed as a recommendation to buy or sell any security. Any buy, sell, or other recommendations mentioned in the article are direct quotations of consensus recommendations from the analysts covering the stock, and do not represent the opinions of Market Inference or its writers. Past performance, accounting data, and inferences about market position and corporate valuation are not reliable indicators of future price movements. Market Inference does not provide financial advice. Investors should conduct their own review and analysis of any company of interest before making an investment decision.