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Sep 30, 2020
Global Medical REIT Q3 2020 Earnings Report
Completed management internalization and reported a 21% increase in year-over-year AFFO per share and unit.
Key Takeaways
Global Medical REIT reported a 38.3% increase in rental revenue to $25.1 million. The company completed its management internalization and $59.8 million of acquisitions during the quarter. AFFO was $0.23 per share and unit for the third quarter.
Completed management internalization transaction in the third quarter.
Posted a 21% increase in year-over-year AFFO per share and unit.
Completed $171 million of acquisitions to date in 2020 with an 8.0% weighted average cap rate.
Portfolio was 99% occupied as of September 30, 2020.
Forward Guidance
The Company had eight properties under contract for a total purchase price of approximately $72 million. The properties are currently in the due diligence review period.
Challenges Ahead
- If the Company identifies problems with the properties or the operators during our review, it may not close on the transactions on a timely basis, or it may terminate the transactions.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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