Global Medical REIT (GMRE) Reports Q3 EPS of $0.02

Global Medical REIT (NYSE: GMRE) reported Q3 EPS of $0.02, versus $0.01 reported last year.

• Net income attributable to common stockholders was $770,000, or $0.02 per diluted share, as compared to $286,000, or $0.01 per diluted share, in the prior year period
• Funds from Operations (“FFO”) of $0.19 per share and unit, as compared to $0.20 per share and unit in the comparable prior year period
• Adjusted Funds from Operations (“AFFO”) of $0.19 per share and unit, as compared to $0.20 per share and unit in the comparable prior year period
• Rental revenue increased 29.5% period-over-period to $18.1 million, primarily driven by the Company’s acquisition activity over the last twelve months
• Acquired seven properties, encompassing an aggregate 257,783 leasable square feet, for an aggregate purchase price of $66.1 million at a weighted average cap rate of 7.7%
• Amended its Credit Facility to, among other things, increase capacity by $75 million to support the Company’s growth plans
• On October 3, 2019 added $130 million of interest rate swaps to hedge the interest rate risk associated with its Credit Facility

For earnings history and earnings-related data on Global Medical REIT (GMRE) click here.

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