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Diversified net-lease REIT owning single-tenant office, industrial and retail buildings leased to corporate tenants in the US and Europe.
Diversified net-lease REIT owning single-tenant office, industrial and retail buildings leased to corporate tenants in the US and Europe.
Collects rent under long leases where the tenant pays property taxes, insurance and upkeep (a net lease), so most rent turns into cash flow with little spending by the landlord. Income depends on tenants renewing and paying, and on its ability to refinance debt on its properties.
Moat: none (switching costs). Long leases give near-term stability, but tenant/asset mix is less differentiated than focused net-lease peers.
Headquarters: New York, New York, US · Founded: 2011 · Employees: 56
Size Global Net Lease (GNL) is a United States Real Estate company (Real Estate Investment Trusts) with a market value of $1.58B, the 1952nd largest of 3,117 United States companies the cockpit tracks. Shares closed at $6.85 on 6 Nov 2026.
Performance Over six months the shares fell 25.8%, against -5.5% for the median peer and -1.1% for the United States market (cap-weighted) — lowest of 20 in its peer set.
Growth Revenue fell 29.6% over the last twelve months (peer median +3.8%); the operating margin is 34.9% (peer median 53.3%).
Valuation It trades at 0.96× book value against a peer median of 0.89× (9th most expensive of 21).
Price implies The share price implies a return on equity of about 9.9%; Global Net Lease delivers -1.0%, so the price asks more than the business earns today.
Credit Global Net Lease has 1 bond outstanding ($0).
Short interest Short interest is 6.0% of the free float (15 Oct 2026).
Next results Next results expected around 25 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $460M | $498M | $573M | $519M | $380M |
| Revenue growth | — | -13% | +11% | +37% | — |
| Gross profit | $236M | $255M | $292M | $201M | $153M |
| EBITDA | $333M | $360M | $441M | $309M | $280M |
| Net income | -$15.3M | -$227M | -$132M | -$216M | $11.1M |
| Free cash flow | $190M | $161M | $253M | $99.2M | $154M |
| Capital expenditure | $17.2M | $33.4M | $45.6M | $47.3M | $29.9M |
| Total debt | $2.46B | $2.58B | $4.13B | $5.29B | $2.44B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE |
|---|---|---|---|---|---|---|
| Global Net Lease GNL | $1.58B | -26% | -30% | -1% | 0.96× | 9.9% |
| Realty Income O | $56.1B | -4% | +11% | 3% | 1.42× | 10.3% |
| W. P. Carey WPC | $15.0B | -12% | +9% | 8% | 1.71× | 12.9% |
| Broadstone Net Lease BNL | $3.36B | -12% | +8% | 5% | 1.17× | 10.7% |
| EPR Properties EPR | $4.56B | +2% | +7% | 13% | 1.95× | 16.8% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | GNL | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -13.9% | +2.1% | lowest of 21 |
| 6-month return | -25.8% | -5.5% | lowest of 20 |
| Return on equity | -1.0% | 6.2% | 4th lowest of 20 |
| Price / book | 0.96× | 0.89× | 9th most expensive of 21 |
| ROE the price implies | 9.9% | 8.6% | 8th most demanding of 21 |
| ROE delivered | -1.0% | 7.6% | 3rd lowest of 17 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| Global Net Lease GNL | United States | $1.58B | -26% | -30% | -1% | 0.96× | 9.9% | -1.0% |
| Charter Hall Retail REIT CQR.AX | Australia | $1.59B | +6% | +31% | 14% | 0.78× | 8.7% | 13.9% |
| Blackstone Digital Infrastructure Trust BXDC | United States | $1.61B | n/a | n/a | n/a | 0.83× | 7.3% | n/a |
| Supermarket Income REIT SUPR.L | United Kingdom | $1.54B | +4% | -7% | 8% | 0.94× | 9.1% | 7.8% |
| Japan Logistics Fund 8967.T | Japan | $1.52B | -8% | +3% | 9% | 1.70× | 6.6% | 9.4% |
| Innovative Industrial Properties IIPR | United States | $1.51B | -4% | -4% | 7% | 0.89× | 10.8% | 7.4% |
| Killam Apartment REIT KMP-UN.TO | Canada | $1.51B | -3% | +5% | 0% | 0.68× | 6.6% | 0.3% |
| Safestore SAFE.L | United Kingdom | $1.67B | -13% | +7% | 3% | 0.55× | 8.4% | 2.9% |
| OUE Real Estate Investment Trust TS0U.SI | Singapore | $1.50B | -5% | +7% | 1% | 0.62× | 4.4% | 1.1% |
| MORI TRUST REIT.Inc 8961.T | Japan | $1.48B | -13% | -14% | 6% | 1.00× | 5.2% | 5.6% |
| Ingenia Communities INA.AX | Australia | $1.48B | +36% | +8% | 11% | 1.22× | 12.4% | 11.2% |
| Diversified Healthcare Trust DHC | United States | $1.70B | -17% | -4% | -9% | 1.11× | 18.0% | -9.5% |
| Douglas Emmett DEI | United States | $1.70B | -18% | +2% | -1% | 0.89× | 10.1% | -1.2% |
| HomeCo Daily Needs REIT HDN.AX | Australia | $1.71B | -2% | +4% | 11% | 0.76× | 8.5% | 11.4% |
| CBL & Associates Properties CBL | United States | $1.46B | 0% | +9% | 61% | 3.43× | 33.7% | 60.6% |
| Eurocommercial Properties ECMPA.AS | Netherlands | $1.72B | -7% | +1% | 9% | 0.64× | 5.0% | 8.5% |
| Empire State Realty OP LP Series ES ESBA | United States | $1.46B | -6% | +2% | 5% | 0.84× | 10.8% | n/a |
| Ellington Financial EFC | United States | $1.45B | -17% | +30% | 12% | 0.82× | 8.6% | 12.3% |
| Centurion Accommodation REIT 8C8U.SI | Singapore | $1.45B | -3% | -69% | 1% | 1.22× | 6.0% | n/a |
| LaSalle LOGIPORT REIT 3466.T | Japan | $1.45B | -10% | +71% | 6% | 1.19× | 4.8% | 6.2% |
| Emperador Properties SOCIMI YEPSA.MC | Spain | $1.44B | +14% | +7% | -2% | 2.84× | 10.5% | n/a |
Global Net Lease has 1 bond outstanding with $0 face value.