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Jun 30, 2024
Global Medical REIT Q2 2024 Earnings Report
Announced second quarter 2024 financial results and completed $31 million in acquisitions of single tenant triple net medical real estate in July.
Key Takeaways
Global Medical REIT reported a decrease in rental revenue by 5.8% year-over-year to $34.2 million for the second quarter of 2024, with a net loss attributable to common stockholders of $3.1 million, or $0.05 per diluted share.
Rental revenue for the second quarter 2024 decreased 5.8% year-over-year to $34.2 million.
Net loss attributable to common stockholders for the second quarter totaled $3.1 million, or $0.05 per diluted share.
The Company reported FFO of $13.9 million, or $0.20 per share and unit, and AFFO of $15.7 million, or $0.22 per share and unit, for the second quarter of 2024.
As of June 30, 2024, the Company’s portfolio was 96.2% occupied and comprised of 4.7 million leasable square feet with an annualized base rent of $106.0 million.
Revenue by Segment
Forward Guidance
Company expects to complete the acquisition of the 10 remaining properties during the fourth quarter of 2024 and is well positioned to continue to pursue acquisitions that fit our portfolio quality and return criteria.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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