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Jun 30, 2020
Global Medical REIT Q2 2020 Earnings Report
Reported solid performance in Q2 2020 with strong collections and completed $132 million of acquisitions year-to-date.
Key Takeaways
Global Medical REIT reported a strong second quarter with a 30.9% increase in rental revenue to $22.0 million. The company completed $132 million in acquisitions year-to-date and internalized management functions.
Rental revenue increased 30.9% year-over-year to $22.0 million.
Completed the acquisition of Dumfries Health Center for $19.3 million at an 8.8% cap rate.
Acquired three additional properties for $45.1 million at a 7.0% weighted average cap rate since June 30, 2020.
Portfolio was 99.8% occupied with an annual base rent of $77.4 million as of June 30, 2020.
Forward Guidance
The pandemic and resulting economic disruption remains a fluid situation that may impact tenants and operations in the months ahead.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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