BMO Capital Turns Neutral on Global Net Lease (GNL), Maintains $10 Target

Global Net Lease, Inc. (NYSE:GNL) is included among the 10 Best Dividend Stocks Yielding at Least 7% According to Hedge Funds.

BMO Capital Turns Neutral on Global Net Lease (GNL), Maintains $10 Target

On April 17, BMO Capital downgraded Global Net Lease, Inc. (NYSE:GNL) to Market Perform from Outperform. It reiterated its price target unchanged at $10. The analyst noted that the company will need to balance further deleveraging with the need to grow earnings. In the firm’s view, much of Global Net’s turnaround is already reflected in the stock.

During the Q4 2025 earnings call, Christopher Masterson, CFO, outlined the company’s initial outlook for 2026. AFFO is expected to come in between $0.80 and $0.84 per share. Net debt to adjusted EBITDA is projected in the range of 6.5x to 6.9x. This assumes a gross transaction volume of $250 million to $350 million, including both acquisitions and dispositions.

Management said this guidance reflects an ongoing effort to reduce exposure to the office segment. At the same time, they plan to stay flexible and reinvest proceeds from asset sales in a disciplined, leverage-neutral way. They added that this approach should support earnings growth over time.

Global Net Lease, Inc. (NYSE:GNL) is an internally managed real estate investment trust focused on income-producing net lease assets. Its portfolio spans the United States, along with Western and Northern Europe. The company operates through three segments: Industrial & Distribution, Retail, and Office.

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