Global Net Lease Sells Americold Portfolio for $170 Million [Yahoo! Finance]
Global Net Lease, Inc. (GNL)
Last global net lease, inc. earnings: 2/26 06:00 am
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globalnetlease.com
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Source: Yahoo! Finance
NEW YORK, June 27, 2024 (GLOBE NEWSWIRE) -- Global Net Lease, Inc. (NYSE: GNL) (“GNL” or the “Company”) today announced the successful disposition of a portfolio of nine cold storage properties that are currently leased to subsidiaries of Americold Realty Trust, Inc. (NYSE: COLD) for $170 million, at a 7.88% cash cap rate on 3.3 years of weighted average remaining lease-term. This disposition is a significant achievement in GNL's ongoing strategic disposition initiative and aligns with the Company's 2024 full-year guidance, which projected a disposition cash cap rate range of 7% to 8%. GNL plans to use the net proceeds from this sale to reduce outstanding debt and further lower the Company's leverage. The sale of this portfolio, which GNL acquired for $153.4 million, is part of the previously announced $567 million of closed and pipeline dispositions at a cash cap rate of 7.2%. “We believe the sale of this portfolio not only reduces risk within our portfolio by eliminating uncert
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GNL
News
- Global Net Lease, Inc. Announces Common Stock Dividend for the Third Quarter 2024GlobeNewswire
- Global Net Lease, Inc. (NYSE: GNL) had its "outperform" rating re-affirmed by analysts at BMO Capital Markets. They now have a $11.00 price target on the stock.MarketBeat
- Global Net Lease Sells Americold Portfolio for $170 MillionGlobeNewswire
- Global Net Lease, Inc. Announces Preferred Stock Dividends [Yahoo! Finance]Yahoo! Finance
- Global Net Lease, Inc. Announces Preferred Stock DividendsGlobeNewswire
GNL
Earnings
- 5/7/24 - Miss
GNL
Sec Filings
- 7/1/24 - Form 8-K
- 6/28/24 - Form 4
- 6/27/24 - Form 8-K
- GNL's page on the SEC website