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Sep 30, 2023
Global Medical REIT Q3 2023 Earnings Report
Global Medical REIT reported consistent results driven by a high-quality portfolio and stable tenant base.
Key Takeaways
Global Medical REIT announced its third quarter 2023 financial results, with rental revenue increasing slightly year-over-year to $35.5 million. The company reported net income attributable to common stockholders of $3.1 million, or $0.05 per diluted share. They completed the sale of a medical office building for gross proceeds of $10.1 million and continue to focus on strategic acquisitions and dispositions.
Rental revenue for Q3 2023 increased slightly year-over-year to $35.5 million.
Net income attributable to common stockholders for Q3 totaled $3.1 million, or $0.05 per diluted share.
The Company reported FFO of $15.3 million, or $0.22 per share and unit, and AFFO of $16.5 million, or $0.23 per share and unit.
Completed the sale of a medical office building in North Charleston, South Carolina for gross proceeds of $10.1 million.
Forward Guidance
The company will continue to remain prudent as the transaction market evolves and is prepared to seize acquisition opportunities when spreads become attractive to support accretive growth.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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