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Mar 31, 2021
Global Medical REIT Q1 2021 Earnings Report
Announced first quarter 2021 financial results, raised $150 million of common equity, completed $101 million of acquisitions year to date, and amended and restated credit facility.
Key Takeaways
Global Medical REIT reported a strong first quarter in 2021, marked by a 26.9% year-over-year increase in rental revenue to $27.3 million, driven by portfolio growth. The company completed $101 million in acquisitions year-to-date at a 7.4% weighted average cap rate and maintained a high occupancy rate of 99.1%.
Rental revenue increased 26.9% year-over-year to $27.3 million.
Completed $101 million of acquisitions year-to-date at a 7.4% weighted average cap rate.
Portfolio maintained 99.1% occupancy with rent coverage exceeding four times.
Leverage reduced from 51.7% at December 31, 2020 to 41.1% at March 31, 2021 due to equity issuances.
Forward Guidance
The company anticipates continued growth, supported by the widespread dissemination of COVID-19 vaccines in the U.S. and an improving economy, while maintaining disciplined underwriting standards.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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