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Dec 31, 2025
Global Medical REIT Q4 2025 Earnings Report
Chiron Real Estate Inc. reported fourth quarter 2025 financial results, highlighting a corporate rebrand and a shift to monthly dividends.
Key Takeaways
Chiron Real Estate (formerly Global Medical REIT) reported a net loss for Q4 2025 due to impairment charges, but saw growth in Core FFO and Same-Property Cash NOI. The company announced a transition from quarterly to monthly dividends and provided 2026 guidance reflecting a stable portfolio outlook.
Core FFO increased 6.4% year-over-year to $1.16 per share and unit.
Same-Property Cash NOI growth was 5.4% on a year-over-year basis.
The company transitioned its common stock dividend to a monthly cadence of $0.25 per share.
Portfolio leased occupancy remained strong at 96.0% with a 5.2-year weighted average lease term.
Revenue by Segment
Forward Guidance
Chiron expects full year 2026 Core FFO to be between $4.30 and $4.45 per share and unit, assuming no additional unannounced acquisitions or equity issuances.
Positive Outlook
- No debt maturities occurring in 2026 or 2027.
- 75% of total debt is at a fixed interest rate.
- New interest rate swaps will fix Term Loan A tranches at 4.80% starting May 2026.
- Borrowing capacity of $220 million available under the credit facility.
- Expectation of programmatic investment expansion with new joint venture partners.
Challenges Ahead
- Tenant White Rock Medical Center filed for Chapter 11 bankruptcy.
- Uncertainty regarding the recovery of $1.4 million in net receivables from White Rock.
- Guidance assumes no additional acquisitions beyond those already announced.
- Core FFO guidance range ($4.30-$4.45) is lower than FY 2025 actual Core FFO ($4.53).
Historical Earnings Impact
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Avg. Return Before/After Earnings
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