Global Net Lease: 3Q Earnings Snapshot
NEW YORK (AP) _ Global Net Lease Inc. (GNL) on Friday 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 $38.6 million, or 45 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 $6.9 million, or 8 cents per share.
The real estate investment trust posted revenue of $77.9 million in the period.
The company’s shares have risen 9% since the beginning of the year. The stock has dropped almost 10% in the last 12 months.