Capital ManagementThe newly instituted $300M share buyback represents a compelling use of capital, offering an accretive use of capital.
Financial PerformanceGlobal Net Lease announced closing of the first phase of a large $1.8B shopping center portfolio sale, set to initiate a significant leverage reduction, a key focus of management’s forward strategy, while reducing corporate overhead and simplifying the company.
Investor PerceptionMore investors paying attention. In our view, the RCG transaction is a crucial step toward the company gaining widespread investor support, not only because of the steep leverage reduction but also from the significant improvement in portfolio quality.