Global Net Lease: 3Q Earnings Snapshot
NEW YORK (AP) _ Global Net Lease Inc. (GNL) on Wednesday reported a key measure of profitability in its third quarter.
The real estate investment trust, based in New York, said it had funds from operations of $37.8 million, or 54 cents per share, in the period.
Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.
The company said it had net income of $177,000, or less than 1 cent on a per-share basis.
The real estate investment trust posted revenue of $71.9 million in the period.
The company’s shares have declined 1 percent since the beginning of the year. The stock has dropped 7 percent in the last 12 months.