Global Net Lease: 2Q Earnings Snapshot
NEW YORK (AP) _ Global Net Lease Inc. (GNL) on Wednesday reported a key measure of profitability in its second quarter.
The New York-based real estate investment trust said it had funds from operations of $41.3 million, or 61 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 $5.3 million, or 8 cents per share.
The real estate investment trust posted revenue of $71 million in the period.
The company’s shares have climbed roughly 4 percent since the beginning of the year. The stock has dropped slightly in the last 12 months.