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Jun 30, 2023
Global Medical REIT Q2 2023 Earnings Report
Announced second quarter 2023 financial results and completed disposition of a four property MOB portfolio.
Key Takeaways
Global Medical REIT reported a 7.8% year-over-year increase in rental revenue to $36.3 million for the second quarter of 2023. The company completed the disposition of a medical office building portfolio in Oklahoma City for gross proceeds of $66 million, which was used to pay down variable rate debt, resulting in a leverage ratio of 44.5%.
Rental revenue increased 7.8% year-over-year to $36.3 million.
Net income attributable to common stockholders totaled $11.8 million, or $0.18 per diluted share.
FFO was $14.7 million, or $0.21 per share and unit, and AFFO was $15.9 million, or $0.23 per share and unit.
Completed the acquisition of two medical office buildings in Redding, California for an aggregate purchase price of $6.7 million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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