secwatch.observer — SEC 8-K summary
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Issuer:     Global Net Lease, Inc. (GNL)
CIK:        0001526113
Form:       8-K
Filed at:   2023-08-03T23:59:59+00:00
Accession:  0001526113-23-000018
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

GNL Q2 net loss $31.4M ($0.30/sh) vs $5.8M loss; AFFO $0.40/sh; RTL merger on track
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- Net loss attributable to common stockholders $31.4M ($0.30 diluted sh) vs $5.8M loss ($0.06) in Q2 2022; loss driven by $22M proxy expenses and $6.3M merger costs.
- Core FFO $27.7M ($0.27/sh) vs $50.0M ($0.48) in Q2 2022; AFFO $41.4M ($0.40) vs $45.0M ($0.43) prior year.
- Revenue $95.8M vs $95.2M in Q2 2022; portfolio 97.7% leased with 7.6 yr WALT; 60% investment grade tenants.
- Merger with RTL expected close Sept 2023; 9% accretive to AFFO/sh in first quarter after close; $75M annual cost savings.
- Dividend declared $0.40/sh, matching AFFO per share; net debt to enterprise value 65.2%; weighted avg debt rate 4.8%.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1526113/000152611323000018/0001526113-23-000018-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1526113/000152611323000018/gnl-20230803.htm
  HTML page:      https://secwatch.observer/filing/0001526113-23-000018

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