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Jun 30, 2022
Global Medical REIT Q2 2022 Earnings Report
Announced second quarter 2022 financial results, invested $74 million in medical real estate during the quarter, and added $150 million delayed-draw term loan to credit facility.
Key Takeaways
Global Medical REIT's second quarter results showed continued strength in its portfolio and tenants. The company grew its portfolio by acquiring $74 million in properties and increased borrowing capacity by $150 million through a new delayed-draw term loan.
Rental revenue increased 19.4% year-over-year to $33.7 million.
Net income attributable to common stockholders totaled $2.2 million, or $0.03 per diluted share.
The Company reported FFO of $16.4 million, or $0.24 per share and unit, and AFFO of $17.6 million, or $0.25 per share and unit.
Completed five acquisitions for an aggregate purchase price of $74.1 million at a weighted average cap rate of 6.9%.
Forward Guidance
The Company believes its portfolio will continue to perform well and that it will continue to grow accretively in the back half of the year.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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