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NEW YORK - Global Net Lease, Inc. (NYSE: GNL), an internally managed real estate investment trust, announced today the appointment of Robert Kauffman as the Non-Executive Chairperson of its Board of Directors. Mr. Kauffman, who joined the GNL Board in March 2024 and is a Co-Founder and former Board member of Fortress Investment Group, succeeds Sue Perrotty following her resignation from the chairperson role. Ms. Perrotty will continue her tenure on the Board as an independent director. According to InvestingPro data, GNL currently maintains a healthy financial position with a current ratio of 1.28, indicating strong liquidity to meet short-term obligations.
The CEO of GNL, Michael Weil, expressed confidence in Mr. Kauffman’s leadership, citing his active involvement in strategic initiatives and his extensive experience in real estate and capital markets. According to Weil, Kauffman’s expertise from his time at Fortress, UBS, and BlackRock has already added significant value to GNL’s operations. The company anticipates that Kauffman’s guidance will be instrumental as GNL transitions to a pure-play single-tenant net lease company, a move expected to deliver additional shareholder value.
Kauffman himself acknowledged the importance of his new role during what he described as a pivotal time for GNL. He noted the company’s recent efforts to streamline its portfolio, strengthen its balance sheet, and enhance financial flexibility. Kauffman’s focus is set on continuing the strong momentum alongside the Board and management team.
The leadership transition occurs as GNL aims to position itself in a more focused market segment. The company specializes in acquiring and managing a global portfolio of income-producing net lease assets primarily in the U.S., Western, and Northern Europe. Notably, GNL offers investors a substantial dividend yield of 9.79% and maintains a strong free cash flow yield of 13%. For detailed analysis and additional insights, investors can access the comprehensive Pro Research Report available on InvestingPro, which covers over 1,400 US equities including GNL.
This announcement is based on a press release statement and comes amid GNL’s broader strategic realignment. It should be noted that forward-looking statements in the press release, such as expectations for future acquisitions or dispositions, are subject to various risks and uncertainties. These could materially affect the company’s actual results and are detailed in GNL’s filings with the U.S. Securities and Exchange Commission. The company emphasizes that it does not undertake any obligation to update forward-looking statements unless required by law.
In other recent news, Global Net Lease reported its first-quarter 2025 financial results, revealing a significant earnings miss. The company posted an earnings per share of -$0.87, which was well below the forecasted -$0.085. Revenue also fell short of expectations, coming in at $132.4 million compared to the anticipated $190.1 million. Despite these setbacks, the company completed a major property sale, generating $1.1 billion in gross proceeds, and reaffirmed its 2025 AFFO guidance of $0.90-$0.96 per share.
Global Net Lease’s efforts to reduce leverage have been noted by analysts, with JMP maintaining a Market Outperform rating and a $9 price target on the stock. The company’s de-leveraging strategy has been effective, with its debt to EBITDA ratio improving to 6.7x. The company has also been on credit watch positive from rating agencies, reflecting the tangible steps taken to enhance liquidity and credit quality.
Additionally, Global Net Lease has been actively managing its portfolio, with plans to dispose of nearly $3 billion in non-core assets by the end of 2025. The company has also approved a $300 million share repurchase program, repurchasing 7.9 million shares at a weighted average price of $7.50. These developments indicate a strategic focus on improving financial stability and operational efficiency.
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