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Sep 30, 2021
Global Medical REIT Q3 2021 Earnings Report
Announced third quarter 2021 financial results and completed $163 million of acquisitions year-to-date.
Key Takeaways
Global Medical REIT reported a strong third quarter with a 19.6% year-over-year increase in rental revenue to $30.0 million and completed $49.3 million in property acquisitions, bringing the year-to-date total to $163.2 million. The portfolio remains highly occupied at 99% with a rent coverage of 4.6 times.
Rental revenue increased 19.6% year-over-year to $30.0 million.
Net income attributable to common stockholders totaled $3.7 million, or $0.06 per diluted share.
Completed five acquisitions for an aggregate purchase price of $49.3 million with a 7.6% weighted average cap rate.
Portfolio was 98.9% occupied with an annualized base rent of $100.8 million and a rent coverage ratio of 4.6 times.
Forward Guidance
The Company intends to reinvest the sales proceeds in 2022.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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