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In a significant move, Global Net Lease , Inc. (NYSE:GNL), a $1.8 billion market cap REIT currently trading at $7.80 per share, has amended its ownership limits, allowing certain key investors to increase their stake in the company. According to InvestingPro analysis, the company appears undervalued based on its Fair Value metrics, while offering an attractive 14% dividend yield to shareholders. On Thursday, the real estate investment trust, which is headquartered in New York, entered into revised waiver agreements with Bellevue Capital Partners (WA:CPAP), LLC and individuals Nicholas S. Schorsch and Shelley D. Schorsch.
These amendments come in the wake of a $300 million share repurchase program initiated on February 20, 2025, which could potentially lead to Bellevue and the Schorsches owning a greater percentage of common stock than previously allowed. The company’s financial position shows strong free cash flow generation, though InvestingPro data indicates some concerns regarding short-term obligations exceeding liquid assets, with a current ratio of 0.81. To accommodate this possibility, the Board of Directors has approved an increase in the ownership cap for Bellevue to 16.9% and for both Nicholas and Shelley Schorsch to 15.3% of the outstanding common stock.
To ensure compliance with United States federal income tax requirements for real estate investment trusts, the company’s Board also decreased the Aggregate Share Ownership Limit to 8.025% for other stockholders, effective immediately. This change was officially documented through a Certificate of Notice filed with the State Department of Assessments and Taxation of Maryland on March 13, 2025.
The adjustments to the ownership limits are detailed in the amended and restated agreements, which were finalized on the same day. These documents outline the conditions under which Bellevue and the Schorsches may increase their ownership stakes, while also preserving the company’s status as a real estate investment trust.
It is important to note that these changes may have material effects on the rights of security holders. The full text of the amended waiver agreements and the Certificate of Notice can be found in the exhibits attached to the SEC filing. For deeper insights into GNL’s financial health and valuation metrics, investors can access comprehensive analysis through InvestingPro, which offers exclusive access to detailed financial metrics and additional ProTips about the company’s performance and outlook. This news is based on a press release statement and provides an overview of the key developments at Global Net Lease, Inc. without any promotional content or subjective commentary.
In other recent news, Global Net Lease reported its financial results for 2024, revealing a revenue of $199.1 million in the fourth quarter, slightly above the expected $193.28 million. The company also reported an earnings per share (EPS) of -$0.08, surpassing the forecast of -$0.10. Additionally, Global Net Lease announced a significant sale of non-core properties, transitioning into a single-tenant net lease company and reducing net debt by $734 million. The company’s strategic asset sales and operational efficiencies have been highlighted as contributing factors to its improved financial stability. JMP Securities maintained its Market Outperform rating for Global Net Lease with a $9.00 price target, citing the company’s effective strategy in asset sales and a new $300 million share buyback program. The firm noted the positive market response to the company’s recent announcement of selling its shopping centers. Global Net Lease’s management has set an AFFO per share guidance for 2025 between $0.90 and $0.96, aiming to further reduce its net debt to adjusted EBITDA ratio. These developments reflect the company’s ongoing strategic initiatives and financial performance improvements.
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