WallStSmart

Global Net Lease, Inc. (GNL)vsSafehold Inc (SAFE)

VS

Smart Verdict

WallStSmart Research — data-driven comparison

Global Net Lease, Inc. generates 13% more annual revenue ($472.16M vs $416.66M). SAFE leads profitability with a 27.4% profit margin vs -8.7%. SAFE earns a higher WallStSmart Score of 68/100 (B-).

GNL

Hold

49

out of 100

Grade: D+

Growth: 6.0Profit: 4.5Value: 6.7Quality: 4.0
Piotroski: 4/9Altman Z: -0.31

SAFE

Strong Buy

68

out of 100

Grade: B-

Growth: 5.3Profit: 7.0Value: 9.3Quality: 5.0
Piotroski: 3/9Altman Z: 0.92
IV

Intrinsic Value Comparison

Multi-model valuation · Graham Formula

GNLUndervalued (+30.1%)

Margin of Safety

+30.1%

Fair Value

$14.14

Current Price

$8.57

$5.57 discount

UndervaluedFair: $14.14Overvalued
SAFEUndervalued (+78.3%)

Margin of Safety

+78.3%

Fair Value

$68.35

Current Price

$16.41

$51.94 discount

UndervaluedFair: $68.35Overvalued

Key Strengths & Concerns

Side-by-side fundamental analysis

Key Strengths

GNL3 strengths · Avg: 10.0/10
Price/BookValuation
1.2x10/10

Reasonable price relative to book value

Operating MarginProfitability
31.3%10/10

Strong operational efficiency at 31.3%

EPS GrowthGrowth
333.0%10/10

Earnings expanding 333.0% YoY

SAFE5 strengths · Avg: 9.4/10
P/E RatioValuation
10.3x10/10

Attractively priced relative to earnings

Price/BookValuation
0.5x10/10

Reasonable price relative to book value

Operating MarginProfitability
72.3%10/10

Strong operational efficiency at 72.3%

Profit MarginProfitability
27.4%9/10

Keeps 27 of every $100 in revenue as profit

PEG RatioValuation
0.658/10

Growing faster than its price suggests

Areas to Watch

GNL4 concerns · Avg: 2.5/10
Market CapQuality
$1.84B3/10

Smaller company, higher risk/reward

Debt/EquityHealth
1.603/10

Elevated debt levels

Return on EquityProfitability
-2.6%2/10

ROE of -2.6% — below average capital efficiency

Revenue GrowthGrowth
-17.5%2/10

Revenue declined 17.5%

SAFE4 concerns · Avg: 3.0/10
Market CapQuality
$1.17B3/10

Smaller company, higher risk/reward

Return on EquityProfitability
4.7%3/10

ROE of 4.7% — below average capital efficiency

Debt/EquityHealth
1.903/10

Elevated debt levels

Piotroski F-ScoreQuality
3/93/10

Weak financial health signals

Comparative Analysis Report

WallStSmart Research

Bull Case : GNL

The strongest argument for GNL centers on Price/Book, Operating Margin, EPS Growth.

Bull Case : SAFE

The strongest argument for SAFE centers on P/E Ratio, Price/Book, Operating Margin. Profitability is solid with margins at 27.4% and operating margin at 72.3%. Revenue growth of 11.9% demonstrates continued momentum.

Bear Case : GNL

The primary concerns for GNL are Market Cap, Debt/Equity, Return on Equity. Debt-to-equity of 1.60 is elevated, increasing financial risk.

Bear Case : SAFE

The primary concerns for SAFE are Market Cap, Return on Equity, Debt/Equity. Debt-to-equity of 1.90 is elevated, increasing financial risk.

Key Dynamics to Monitor

GNL profiles as a turnaround stock while SAFE is a mature play — different risk/reward profiles.

SAFE carries more volatility with a beta of 1.81 — expect wider price swings.

SAFE is growing revenue faster at 11.9% — sustainability is the question.

GNL generates stronger free cash flow (38M), providing more financial flexibility.

Bottom Line

SAFE scores higher overall (68/100 vs 49/100), backed by strong 27.4% margins and 11.9% revenue growth. GNL offers better value entry with a 30.1% margin of safety. Both earn "Strong Buy" and "Hold" ratings respectively — the choice depends on your investment horizon and risk tolerance.

This analysis is generated from publicly available financial data. Not financial advice.

Global Net Lease, Inc.

REAL ESTATE · REIT - DIVERSIFIED · USA

Global Net Lease, Inc. (GNL) is a prominent real estate investment trust (REIT) dedicated to the acquisition and management of a diversified portfolio of commercial properties under long-term net lease agreements, primarily to high-quality tenants. The company emphasizes reliability and risk-adjusted returns, operating across multiple sectors and geographies to enhance income stability and capitalize on capital appreciation opportunities. With a proficient management team boasting deep industry expertise, GNL is strategically positioned to adapt to market dynamics, making it an attractive investment option for institutional investors seeking consistent, sustainable income streams coupled with growth potential.

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Safehold Inc

REAL ESTATE · REIT - DIVERSIFIED · USA

Safehold Inc. (SAFE) is a leading real estate investment trust (REIT) that specializes in acquiring and managing ground leases, providing property owners with a mechanism to enhance asset valuations while retaining ownership. Focused on high-quality urban properties, Safehold establishes a low-risk investment profile complemented by the potential for stable income generation. With a strong balance sheet and a commitment to sustainable income growth, the company is poised to capitalize on the rising demand for ground leases. Its innovative approach and dedication to delivering consistent returns position Safehold as a compelling opportunity for institutional investors aiming to diversify and strengthen their portfolios.

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