Global Net Lease, Inc. (GNL) is undergoing a transformation as it internalizes management and strategically repositions its portfolio. The company has aggressively deleveraged, improved portfolio quality, and achieved significant cost savings. Despite trading at a low multiple compared to peers, GNL pays an 11% dividend and has authorized a $300 million buyback program.

GNL’s management guidance may underestimate future savings, with FY26 AFFO likely to exceed $1.00. The stock is undervalued compared to peers, offering a potential 25% three-year IRR at a conservative 10x multiple. Catalysts for upside include further deleveraging, continued buybacks, and market recognition as a pure-play net lease REIT. An outright sale is also a possibility for investors to realize gains.

STAG Industrial, Inc. (STAG) has seen a 6.92% stock price appreciation since a bullish thesis in May 2025 highlighted strong leasing spreads, disciplined asset recycling, a conservative balance sheet, and resilient industrial fundamentals. The company continues to benefit from e-commerce tailwinds. Monkeymadness shares a bullish outlook on GNL, focusing on its transformation and capital return potential.

Read more at Yahoo Finance: Global Net Lease, Inc. (GNL): A Bull Case Theory