---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-26-011686"
form_type: "8-K"
ticker: "GNL"
cik: "0001526113"
company_name: "Global Net Lease, Inc."
filed_at: "2026-02-25T23:59:59+00:00"
generated_at: "2026-05-16T00:16:19.341669+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# GNL Q4 AFFO $0.22, FY AFFO $0.99 beats guidance; net debt down $2.2B, credit upgraded

## Summary
- Q4 AFFO $48.5M ($0.22/share); FY2025 AFFO $221.0M ($0.99/share), above guidance of $0.95-$0.97.
- Reduced net debt $2.2B; Net Debt/Adjusted EBITDA improved from 7.6x to 6.7x in 2025.
- Sold McLaren Campus for £250M, gain ~£80M above purchase price; credit upgraded to investment-grade BBB- by Fitch.
- Repurchased 17.2M shares at $7.88 avg for $135.9M since program launch; includes 4.5M shares in Q4 2025 for $37.3M.
- Introduced 2026 guidance: AFFO $0.80-$0.84/share, Net Debt/EBITDA 6.5x-6.9x; focus on reducing office exposure.

## SEC filing metadata
- accession: 0001628280-26-011686
- form_type: 8-K
- ticker: GNL
- cik: 0001526113
- company_name: Global Net Lease, Inc.
- filed_at: 2026-02-25T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1526113/000162828026011686/0001628280-26-011686-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1526113/000162828026011686/gnl-20260225.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-26-011686
- JSON: https://secwatch.observer/filing/0001628280-26-011686.json
- Plain text: https://secwatch.observer/filing/0001628280-26-011686.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.