GNL Q1 AFFO $0.21/share, reaffirms guidance; acquires Modiv for $535M all-stock

Global Net Lease, Inc.

2026-Q1 EPS reported -$0.08 revenue$109,286,000

Q1 revenue $109.3M (down 17% YoY); net loss $16.0M vs -$200.3M in Q1'25.
AFFO per share $0.21; full-year 2026 AFFO guidance reaffirmed at $0.80-$0.84.
Entered $535M all-stock deal for Modiv Industrial; expected to close Q3'26, 4% AFFO accretive.
Repurchased 19.7M shares at $8.05 avg ($158.2M total); liquidity $911M, revolver capacity $1.5B.
Reduced net debt $1.3B YoY to $2.4B; closed/active disposition pipeline $132M (68% office).

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