What's In The Cards For Global Net Lease's (GNL) Q4 Earnings?
Zacks Investment Research | Feb 25, 2019 10:03PM ET
Global Net Lease, Inc. (NYSE:GNL) is scheduled to report fourth-quarter 2018 results before the opening bell on Feb 27. The company’s results are anticipated to reflect year-over-year increase in both revenues and funds from operations (FFO).
In the last reported quarter, this real estate investment trust (REIT) delivered a better-than-expected performance in terms of FFO per share, posting a positive surprise of 5.88%.
However, Global Net Lease has a mixed surprise history. The company surpassed estimates in two occasions, met in another and missed in the other, over the trailing four quarters, resulting in average positive surprise of 3.36%.
Let’s see how things are shaping up for this announcement.
Factors to Consider
New York-based Global Net Lease focuses on acquisition and management of industrial and office properties, leased for the long term, to quality corporate tenants in select markets in the United States and Europe.
Notably, investment grade or implied investment grade tenants constitute majority of the company’s portfolio and it enjoys a high occupancy level for its properties. As such, in the to-be-reported-quarter, Global Net Lease is expected to have experienced a consistent cash flow from its net leased properties.
The company aims at capitalizing on acquisition opportunities of net lease assets, with a continued near-term focus on U.S. industrial and distribution facilities, and strategically boosting its international footprint.
In sync with such efforts, during the fourth quarter, the company closed on acquisition of six properties, comprising industrial and distribution facility, and representing 1.3 million square feet, for about $211.8 million. The acquisitions, with a weighted-average remaining lease term of 11.3 years, were made at a weighted-average GAAP capitalization rate of 7.23%. For 2018, the company acquired 23 buildings for more than $478 million.
Moreover, per a Zacks Investment Research
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