Global Net Lease (GNL) stock plummeted 5.71% in pre-market trading on Friday, following the company's mixed fourth-quarter earnings report and disappointing 2025 guidance.

While GNL reported better-than-expected Q4 adjusted funds from operations (AFFO) of $0.34 per diluted share, up from $0.31 a year earlier and beating analyst estimates of $0.31, its revenue for the quarter fell to $199.1 million from $206.7 million a year ago, missing expectations of $194.3 million.

The real concern for investors, however, appears to be GNL's weaker-than-expected 2025 AFFO guidance range of $0.90 to $0.96 per share, which fell significantly short of analysts' estimates of $1.21. This disappointing outlook likely fueled concerns over the company's growth prospects and profitability for the current year, leading to the pre-market sell-off.