Earnings release
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GNL 2 GLOBAL NET LEASE FOR IMMEDIATE RELEASE GLOBAL NET LEASE REPORTS SECOND QUARTER 2021 RESULTS Company to Host Investor Conference Call Today at 1 PM Eastern EXHIBIT 99.1 New York , August 5 , 2021 - Global Net Lease , Inc. ( NYSE : GNL ) ( “ GNL ” or the “ Company " ) , a real estate investment trust that focuses on acquiring and managing a globally diversified portfolio of strategically - located commercial real estate properties , announced today its financial and operating results for the quarter ended June 30 , 2021 . Second Quarter 2021 and Subsequent Events Highlights Revenue increased 22.8 % to $ 99.6 million from $ 81.1 million in second quarter 2020 Net loss was $ 2.4 million as compared to net income of $ 1.0 million in second quarter 2020 Net operating income ( " NOI " ) grew 18.5 % to $ 86.9 million from $ 73.3 million in second quarter 2020 Core Funds from Operations ( " Core FFO " ) grew to $ 44.0 million compared to $ 35.4 million in second quarter 2020 Adjusted Funds from Operations ( " AFFO " ) increased by $ 3.1 million to $ 42.8 million versus $ 39.8 million in the prior year quarter AFFO per share was $ 0.44 , unchanged compared to second quarter 2020 Distributed $ 38.1 million , or $ 0.40 per share , in common dividends to shareholders Ample Liquidity of $ 268.5 million as of June 30 , 2021¹ Collected 100 % of second quarter original cash rents , including 100 % from top 20 tenants , as of July 15 , 20212,3 Closed on acquisition of 841,000 square foot McLaren Group headquarters for $ 236 million ( based on the exchange rate on the acquisition date ) with 20 - Year NNN leases Portfolio 99.7 % leased with 8.5 years of weighted average remaining lease term³ Lease extensions and expansions completed and under non - binding letter of intent for related leases that will cover 1.2 million square feet that will extend weighted - average remaining lease term to 10.1 years from 5.4 years for 3.0 % of the portfolio if the non - binding letters of intent lead to definitive agreements , which is not assured 6 Industrial and Distribution asset concentration expanded to 52 % from 47 % in same quarter , 2020 based on annualized straight line rent . Contractual rent increases embedded in 94.0 % of leases High quality tenants are 64 % investment grade or implied investment grade7 Acquisitions pipeline of $ 388.0 million , consisting of second quarter completed and pending acquisitions , at a going - in capitalization rate of 9.7 % and with 16.9 years of weighted - average remaining lease term ¹0 " Our second quarter results reflect another quarter of strong acquisitions and portfolio enhancements that showcase our unique global capabilities , as illustrated by the mid - quarter acquisition of the McLaren headquarters , " said James Nelson , CEO of GNL . " Although the full impact of this acquisition will reflect in our third quarter results , I am pleased with our significant year over year growth in NOI and AFFO , and the expanded concentration of Industrial and Distribution assets in our portfolio . We have strong leasing and acquisition momentum that we will carry into the second half of the year . "