This High-Yielding REIT’s AFFO Coverage Is Telling You Something Its Yield Is Not
Global Net Lease (GNL) offers a 9.34% yield, but its adjusted funds from operations (AFFO) coverage is shrinking. AFFO was $0.99 per share in 2025, with guidance of 82-85 cents for 2026, while the dividend is 76 cents. Revenue has declined, and debt maturities pose risks. The company aims to improve AFFO through acquisitions and office sales. Investors should monitor AFFO trends for dividend sustainability.



