GNL on NYSE

Global Net Lease, Inc.

American real estate investment trust based in Baltimore, active since 2011. Summary from the record

Price unavailable

Last updated Oct 19, 2026.

Overview

Compare with JBG Smith, Ares Real Estate Income Trust Inc. or Brandywine Realty Trust, or pick any stock.

  • TickerGNL on NYSE2
  • IndustryReal Estate Investment Trusts2
  • HeadquartersBaltimore, United States2
  • Incorporated inNY3
  • Business address650 Fifth Ave, 30Th Floor, New York, Ny 100193
  • Filer categoryLarge accelerated filer3
  • Legal formStock Corporation2
  • LEI549300NUYANCT5SU8Z652
  • StatusActive2
  • LEI statusIssued and current2
  • Registered addressc/o CSC-LAWYERS INCORPORATING SERVICE COMPANY, 21202 Baltimore, United States2
  • Registered withBusiness Services (Maryland Department of Assessments and Taxation), D142038482

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We are an internally managed real estate investment trust for United States (“U.S.”) federal income tax purposes (“REIT”) that focuses on acquiring and managing a global portfolio of income producing net lease assets across the U.S. and Western and Northern Europe.12 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

22.4%Operating margin13
-45.5%Net margin13
-13.1%Revenue growth, 202513
-13.6%Return on equity13

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Business segments

Industrial And Distribution brought in 46% of the revenue Global Net Lease, Inc. broke down this way in fiscal 2025.

  1. Industrial And Distribution$225.7M1346%down 5% from 2024
  2. Office$136.8M1328%down 5% from 2024
  3. Single-Tenant Retail$132.8M1327%down 20% from 2024
Business segments by year
Business segments202320242025
Industrial And Distribution$220.1M$237.6M$225.7M
Office$149.7M$143.6M$136.8M
Single-Tenant Retail$65.8M$165.6M$132.8M

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Other costs96¢$473.5M
  • Income tax4¢$21.8M

Out of $495.3M in revenue.13 The company lost money this year.

Where each dollar of operating cash went, fiscal 2025

  • Dividends paid61¢$192.1M
  • Share buybacks39¢$120.3M

Out of $222.8M of cash from operations. Spending exceeded cash from operations; the rest came from savings or borrowing.13

Financial statements

Revenue1415161713$495.3M in 2025+62% since 2019
0$200.0M$400.0M$600.0M2019: $306.2M$306.2M20192020: $330.1M$330.1M2020+8%2021: $391.2M$391.2M2021+19%2022: $378.9M$378.9M2022−3%2023: $445.8M$445.8M2023+18%2024: $569.8M$569.8M2024+28%2025: $495.3M$495.3M2025−13%
Operating income1415161713$111.0M in 2025−3% since 2019
-$100.0M0$100.0M$200.0M2019: $114.9M$114.9M20192020: $99.2M$99.2M2020−14%2021: $111.9M$111.9M2021+13%2022: $100.5M$100.5M2022−10%2023: -$15.3M-$15.3M20232024: $188.1M$188.1M20242025: $111.0M$111.0M2025−41%
Net income1415161713-$225.5M in 2025
-$300.0M-$200.0M-$100.0M0$100.0M2019: $46.5M$46.5M20192020: $10.8M$10.8M2020−77%2021: $11.4M$11.4M2021+5%2022: $12.0M$12.0M2022+6%2023: -$211.9M-$211.9M20232024: -$131.6M-$131.6M2024−38%2025: -$225.5M-$225.5M2025+71%

Every line of the income statement as filed: the last 3 fiscal years, latest first.13

Period ending2025-12-312024-12-312023-12-31
Revenue from tenants$495.3M$569.8M$445.8M
Property operating$51.2M$64.3M$44.4M
Operating fees to related parties$0$0$28.3M
Impairment charges$157.5M$90.3M$68.7M
Merger, transaction and other costs$6.7M$6.0M$54.4M
Settlement costs$0$0$29.7M
General and administrative$52.8M$52.4M$37.2M
Equity-based compensation$12.5M$8.9M$17.3M
Depreciation and amortization$191.2M$216.8M$179.4M
Goodwill impairment$7.1M$0$0
Total expenses$479.0M$438.8M$459.4M
Operating income (loss) before gain (loss) on dispositions of real estate investments$16.3M$131.0M-$13.6M
Gain (loss) on dispositions of real estate investments$94.7M$57.1M-$1.7M
Operating income (loss)$111.0M$188.1M-$15.3M
Interest expense-$194.7M-$255.7M-$158.3M
Loss on extinguishment and modification of debt-$11.2M-$15.9M-$1.2M
(Loss) gain on derivative instruments-$10.7M$4.2M-$3.7M
Unrealized (losses) gains on undesignated foreign currency advances and other hedge ineffectiveness-$12.6M$3.2M$0
Other income$4.3M$1.1M$1.8M
Total other expense, net-$224.9M-$263.0M-$161.4M
Net loss before income tax-$113.9M-$74.9M-$176.7M
Income tax expense-$21.8M-$4.4M-$14.5M
Loss from continuing operations-$135.7M-$79.4M-$191.2M
Loss from discontinued operations-$89.7M-$52.2M-$20.7M
Net loss-$225.5M-$131.6M-$211.9M
Preferred stock dividends-$43.7M-$43.7M-$27.4M
Net loss attributable to common stockholders-$269.2M-$175.3M-$239.3M
Net loss per share from continuing operations, basic (in dollars per share)-$1-$1-$2
Net loss per share from continuing operations, diluted (in dollars per share)-$1-$1-$2
Net loss per share from discontinued operations, basic (in dollars per share)-$0-$0-$0
Net loss per share from discontinued operations, diluted (in dollars per share)-$0-$0-$0
Net loss per share attributable to common stockholders Basic (in dollars per share)-$1.21-$0.76-$1.71
Net income loss per share attributable to common stockholders Diluted (in dollars per share)-$1.21-$0.76-$1.71
Basic (in shares)223.3M shares230.4M shares142.6M shares
Diluted (in shares)223.3M shares230.4M shares142.6M shares

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Leadership

Who has led Global Net Lease, Inc., and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Scott J. Bowman2014–2017
  2. James Larry Nelson2017–2023
  3. Edward M. Weil Jr.2023–now

President

  1. Scott J. Bowman2016–2017
  2. James Larry Nelson2017–2023
  3. Edward M. Weil Jr.2024–now

Chief financial officer

  1. Amy B. Boyle2014
  2. Nicholas Radesca2014–2017
  3. Patrick J. Goulding2014
  4. Timothy Salvemini2015
  5. Christopher J. Masterson2017–now

Chief operating officer

  1. Edward M. Weil Jr.2014
  2. William M. Kahane2014
  3. Ori Kravel2025–now
201520202025
Board members and other officers (17)

Subsidiaries and ownership

Subsidiaries (GLEIF)

Also consolidated

Ownership links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); each one cites its LEI record.

Former names

  • American Realty Capital Global Trust, Inc.Aug 15, 2012 to Apr 29, 20153
  • American Realty Capital Global Daily Net Asset Value Trust, Inc.Oct 27, 2011 to Aug 10, 20123

Timeline

  1. Sep 14, 2023New chief executive Edward M. Weil Jr. becomes CEO23
  2. Nov 21, 2017New chief executive James Larry Nelson becomes CEO24
  3. Dec 11, 2014New chief executive Scott J. Bowman becomes CEO25
  4. Jul 13, 2011Founded Global Net Lease, Inc. is founded2

Filings

494 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 206 major events, 144 insider forms, 27 large holders, 97 other. The latest 20:

  1. Oct 15, 20268-K EDGAR
  2. Oct 7, 20264 OWNERSHIP DOCUMENT EDGAR
  3. Oct 7, 20264 OWNERSHIP DOCUMENT EDGAR
  4. Oct 5, 20264 OWNERSHIP DOCUMENT EDGAR
  5. Oct 5, 20264 OWNERSHIP DOCUMENT EDGAR
  6. Oct 5, 20264 OWNERSHIP DOCUMENT EDGAR
  7. Oct 5, 20264 OWNERSHIP DOCUMENT EDGAR
  8. Oct 1, 20268-K EDGAR
  9. Sep 30, 20268-K/A EDGAR
  10. Sep 17, 20268-K EDGAR
  11. Sep 11, 20268-K/A EDGAR
  12. Aug 13, 20268-K EDGAR
  13. Aug 6, 20268-K EDGAR
  14. Aug 5, 202610-Q EDGAR
  15. Aug 5, 20268-K EDGAR
  16. Aug 5, 2026425 EDGAR
  17. Aug 5, 20268-K EDGAR
  18. Jul 24, 2026SCHEDULE 13D/A EDGAR
  19. Jul 16, 20268-K EDGAR
  20. Jul 14, 20264 OWNERSHIP DOCUMENT EDGAR

The 494 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

26 open-market trades by officers, directors and large owners since October 2021: 2 buys and 24 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Jul 10, 2025Weil Edward M Jr.CEO, PresidentSale150,000$7.61$1.1MForm 4
Jun 13, 2025Bellevue Capital Partners, LLCSale300,000$7.33$2.2MForm 4
Jun 12, 2025Bellevue Capital Partners, LLCSale7,103,000$7.43$52.8MForm 4
May 15, 2025SCHORSCH NICHOLAS SSale100,000$7.99$799.0KForm 4
May 15, 2025Bellevue Capital Partners, LLCSale100,000$7.99$799.0KForm 4
Apr 3, 2025Bellevue Capital Partners, LLCSale200,000$7.95$1.6MForm 4
Nov 11, 2024SCHORSCH NICHOLAS SBuy100,000$7.72$772.0KForm 4
Oct 2, 2024Bellevue Capital Partners, LLCBuy100,000$8.40$840.0KForm 4
Jun 27, 2024Bellevue Capital Partners, LLCSale200,000$7.15$1.4MForm 4
Jun 26, 2024SCHORSCH NICHOLAS SSale100,000$7.02$702.0KForm 4
Jun 25, 2024SCHORSCH NICHOLAS SSale150,000$7.08$1.1MForm 4
Jun 24, 2024SCHORSCH NICHOLAS SSale150,000$7.19$1.1MForm 4
Jun 21, 2024SCHORSCH NICHOLAS SSale450,000$7.08$3.2MForm 4
Jun 20, 2024SCHORSCH NICHOLAS SSale433,350$7.19$3.1MForm 4
Jun 18, 2024SCHORSCH NICHOLAS SSale89,271$7.32$653.5KForm 4
Jun 17, 2024Bellevue Capital Partners, LLCSale200,000$7.16$1.4MForm 4
Jun 14, 2024Bellevue Capital Partners, LLCSale145,058$7.25$1.1MForm 4
Jun 13, 2024Bellevue Capital Partners, LLCSale159,720$7.32$1.2MForm 4
Feb 16, 2024Bellevue Capital Partners, LLCSale155,000$8.10$1.3MForm 4
Jan 26, 2024SCHORSCH NICHOLAS SSale4,837$8.90$43.0KForm 4

All 26 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
BlackRock, Inc.32,069,966$286.7M0.0%+758,677
Vanguard Portfolio Management LLC20,544,802$183.7M0.0%+141,097
State Street Corp10,982,674$98.2M0.0%−128,377
Vanguard Capital Management LLC9,272,540$82.9M0.0%+28,299
Brown Advisory Inc6,364,564$56.9M0.1%+459,142
Two Sigma Investments, LP5,775,479$51.6M0.0%+3,233,953
Geode Capital Management, LLC5,524,303$49.4M0.0%+239,215
Charles Schwab Investment Management Inc4,314,026$38.6M0.0%−73,390
Invesco Ltd.4,218,870$37.7M0.0%+479,589
Balyasny Asset Management L.P.3,857,678$34.5M0.1%+3,103,780
Private Management Group Inc3,272,383$29.3M0.8%New
Morgan Stanley3,098,025$27.7M0.0%+951,017
Helix Partners Management LP3,021,832$27.0M7.3%No change
Dimensional Fund Advisors LP2,620,471$23.4M0.0%−157,461
Northern Trust Corp2,491,511$22.3M0.0%+104,558
Hsbc Holdings PLC2,301,878$20.7M0.0%−699,673
MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.2,228,733$19.9M0.0%+41,825
Ameriprise Financial Inc1,558,394$13.9M0.0%−24,715
Goldman Sachs Group Inc1,523,208$13.6M0.0%−84,592
Taconic Capital Advisors LP1,330,986$11.9M7.2%+90,000
Vanguard Fiduciary Trust Co1,281,956$11.5M0.0%−16,395
Bank of New York Mellon Corp1,256,373$11.2M0.0%+19,997
Victory Capital Management Inc1,147,007$10.3M0.0%+320,105
Legal & General Group Plc1,139,978$10.2M0.0%−109,281
UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC1,047,510$9.4M0.0%+1,039,066

13F reports cover disclosed long positions in U.S. stocks only.

Sources

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