Global Net Lease to Acquire Modiv; Q2 Net Loss $(7.45)M
Global Net Lease, Inc. reported an agreement to acquire Modiv Industrial, Inc., a strategic move to expand its portfolio. For the second quarter of 2026, the company significantly reduced its net loss attributable to common stockholders to $(7.45) million from $(35.08) million in the prior year, with basic and diluted loss per share improving to $(0.04). However, revenue from tenants for the quarter decreased to $112.48 million. The balance sheet showed a reduction in total assets and stockholders' equity compared to year-end 2025.
Key Highlights
- Agreed to acquire Modiv Industrial, Inc. (MDV) on May 3, 2026.
- Modiv Class C common stock to convert into 1.975 shares of Global Net Lease common stock.
- Modiv preferred stock to receive $25.00 cash plus accrued dividends.
- Q2 2026 net loss attributable to common stockholders improved to $(7.45) million from $(35.08) million YoY.
- Q2 2026 revenue from tenants decreased to $112.48 million from $124.91 million YoY.
- Q2 2026 basic and diluted loss per share improved to $(0.04) from $(0.16) YoY.
- Total Assets as of June 30, 2026, were $4.07 billion, down from $4.35 billion at year-end 2025.
- Total Stockholders’ Equity as of June 30, 2026, was $1.51 billion, down from $1.66 billion at year-end 2025.
Price Impact
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