Loading...
•
Dec 31, 2020
Global Medical REIT Q4 2020 Earnings Report
Announced fourth quarter and year-end 2020 financial results.
Key Takeaways
Global Medical REIT reported a 22.1% increase in rental revenue to $24.9 million for the fourth quarter of 2020, reflecting portfolio growth. Net income attributable to common stockholders totaled $1.1 million, or $0.02 per share. The company completed eight acquisitions for $79.8 million at a 7.3% weighted average cap rate.
Grew portfolio to over $1 billion in value.
Completed 18 acquisitions for a total of $226 million at a 7.8% weighted average cap rate for the year.
Extended 7.1% of ABR with four important lease renewals totaling 221,000 square feet.
Announced first quarterly dividend increase since the IPO.
Forward Guidance
The company intends to continue its strategy of scaling its platform with properties and tenants that meet its underwriting criteria, growing AFFO per share, and providing stockholders with a compelling total return over the long term.
Positive Outlook
- Deployment of the COVID-19 vaccine.
- Portfolio growth.
- Future earnings accretion expected from internalization.
- Continue scaling platform with properties and tenants that meet underwriting criteria.
- Growing AFFO per share.
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...