Global Net Lease, Inc. (NYSE:GNL) Q3 2023 Earnings Call Transcript

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Global Net Lease, Inc. (NYSE:GNL) Q3 2023 Earnings Call Transcript November 8, 2023

Operator: Good afternoon, and welcome to the Global Net Lease Third Quarter 2023 Earnings Conference Call. [Operator Instructions]. Please note, this event is being recorded. I would now like to turn the conference over to Jordyn Schoenfeld, Associate at Global Net Lease. Please go ahead.

Jordyn Schoenfeld: Thank you. Good afternoon, everyone, and thank you for joining us for GNL's third quarter 2023 earnings call. Joining me today on the call are Mike Weil be Jim Nelson, GNL's Co-Chief Executive Officers; and Chris Masterson, GNL's Chief Financial Officer. The following information contains forward-looking statements, which are subject to risks and uncertainties. Should one or more of these risks or uncertainties materialize, actual results may differ materially from those expressed or implied by the forward-looking statements. We refer all of you to our SEC filings, including the Form 10-K for the year ended December 31, 2022, filed on February 23, 2023, and all other filings with the SEC after that date for a more detailed discussion of the risk factors that could cause these differences.

Any forward-looking statements provided during this conference call are only made as of the date of this call. As stated in our SEC filings, GNL disclaims any intent or obligation to update or revise these forward-looking statements except as required by law. Any statements referring to the future value of an investment in GNL, including any adjustments giving effect to the recently completed merger with The Necessity Retail REIT Incorporated defined as RTL and the subsequent internalization of both GNL and RTL's advisory and property management as well as any projections about any potential success following the merger and internalization are also forward-looking statements. There are a number of risks associated with the merger internalization, including, but not limited to, our ability to integrate the operations of RTL and the other entities acquiring the merger and internalization.

We may not realize the anticipated synergies and other benefits of the merger or the internalization or do so within our anticipated time frame. Also, during today's call, we will discuss non-GAAP financial measures, which we believe can be useful in evaluating the company's financial performance. These measures should not be considered in isolation or as a substitute for our financial results prepared in accordance with GAAP. A reconciliation of these measures to the most directly comparable GAAP measure is available in our earnings release and supplement, which are posted to our website. Please also refer to our earnings release for more information about what we consider to be implied investment grade tenants, a term we will use throughout today's call.