On Wednesday Global Net Lease Inc (NYSE:GNL) started its trading session with the price $20.46 and closed at price of $20.34 by scoring -0.54%. Day range of the stock was $20.33 – $20.65. GNL stock traded with total volume of 354,932 shares while the average trading capacity remained 420369 shares. Earnings per share was $0.23. GNL has total market capitalization of $1.46B.
Global Net Lease, Inc. (NYSE:GNL), a real estate investment trust focused on the acquisition of industrial and office properties leased long-term to high quality corporate tenants in select markets in the United States and Europe, reported that it has closed on four properties in the third quarter 2018, representing 1.3 million square feet for $105.4 million. The properties are leased to a furniture manufacturer, NetScout Systems Texas, LLC, Rubbermaid Incorporated and FedEx Freight.
The four properties were purchased at a weighted average going-in capitalization rate1 of 7.16%, equating to a weighted-average GAAP capitalization rate2 of 7.68%, with a weighted-average remaining lease term3 of 13.8 years. GNL funded the transactions with borrowings under its revolving credit facility and cash on hand, which includes proceeds from a public offering of GNL’s common stock completed in August 2018.
Through the end of Q3 2018, GNL’s combined pipeline of closed and scheduled to close 2018 acquisitions have increased to $401 million. The company has closed on $266.4 million of acquisitions through the end of the third quarter, with an additional $134 million expected to close by the end of the fourth quarter.
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