Global Medical REIT

Nov 02, 2022

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Sep 30, 2022

Global Medical REIT Q3 2022 Earnings Report

Announced third quarter 2022 financial results, invested $51 million in medical real estate, and added $150 million term loan to credit facility.

Key Takeaways

Global Medical REIT reported an increase in rental revenue by 18.0% year-over-year to $35.3 million and net income attributable to common stockholders totaled $8.1 million, or $0.12 per diluted share. The company completed five acquisitions for $50.8 million and added a new $150 million term loan to its credit facility.

Rental revenue increased 18.0% year-over-year to $35.3 million.

Net income attributable to common stockholders totaled $8.1 million, or $0.12 per diluted share, including a $6.8 million gain from the sale of a facility.

FFO was $16.2 million, or $0.23 per share and unit, and AFFO was $17.1 million, or $0.25 per share and unit.

Completed five acquisitions for an aggregate purchase price of $50.8 million at a weighted average cap rate of 7.1%.