Global Net Lease (GNL) stock plunged 5.05% in pre-market trading on Friday, despite reporting better-than-expected adjusted funds from operations (AFFO) for the fourth quarter of 2024.
GNL reported Q4 AFFO of $0.34 per diluted share, up from $0.31 a year earlier and beating analysts' estimates of $0.31. However, revenue for the quarter fell to $199.1 million from $206.7 million a year ago, missing analyst expectations of $194.3 million.
The company's weaker-than-expected 2025 AFFO guidance, ranging from $0.90 to $0.96 per share, compared to analysts' estimates of $1.21, likely contributed to the pre-market sell-off. Investors may be concerned about GNL's growth prospects and profitability outlook for the current year.