Global Medical REIT (GMRE) Misses Q2 EPS by 3c

Global Medical REIT (NYSE: GMRE) reported Q2 EPS of $0.00, $0.03 worse than the analyst estimate of $0.03.

• Net income attributable to common stockholders was $0.2 million, or $0.00 per diluted share, as compared to $0.9 million, or $0.03 per diluted share, in the comparable prior year period.
• Funds from Operations (“FFO”) of $0.19 per share and unit, as compared to $0.18 per share and unit in the comparable prior year period.
• Adjusted Funds from Operations (“AFFO”) of $0.21 per share and unit, as compared to $0.18 per share and unit in the comparable prior year period.
• Increased total revenue 30.7% period-over-period to $22.1 million.
• On April 27th the Company completed the acquisition of a 99,718 square foot medical office facility for a purchase price of approximately $19.3 million at an 8.8% cap rate.
• On July 9th the Company completed a management internalization transaction for an aggregate purchase price of $18.1 million, subject to working capital adjustments, in an all cash transaction.
• On July 24th the Company increased its credit facility capacity by $100 million and added new lenders through a partial exercise of its credit facility’s accordion feature.

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

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