Global Medical REIT (NYSE: GMRE) reported Q4 EPS of $0.03, versus $0.31 reported last year.

Fourth Quarter 2019 Highlights

• Net income attributable to common stockholders was $1.2 million, or $0.03 per diluted share, as compared to $7.0 million, or $0.31 per diluted share, in the prior year period.
• Funds from Operations (“FFO”) of $0.21 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 $0.21 per share and unit, as compared to $0.20 per share and unit in the comparable prior year period.
• Increased total revenue 42.3% period-over-period to $20.5 million, primarily driven by the Company’s acquisition activity over the last twelve months.
• Acquired five properties, encompassing an aggregate 185,220 leasable square feet, for an aggregate purchase price of $72.8 million at a weighted average cap rate of 7.4%.
• Issued 6.9 million shares of common stock at $13.00 per share in a public offering, which generated $89.7 million of gross proceeds.
• The Company was added to the MSCI U.S. REIT Index.
• The Board of Directors formed a special committee of independent and disinterested directors to evaluate a potential management internalization transaction.

Jeffrey M. Busch, Chairman, Chief Executive Officer and President stated, “2019 was an exceptional year for GMRE as we invested $253.5 million in 18 high-quality, medical facility acquisitions, that position us for long-term growth. We exceeded our acquisition expectations and maintained our discipline in underwriting, achieving a weighted average cap rate of 7.5% for these acquisitions. As we continue to accretively scale our platform, we also grew our enterprise value to $1.1 billion with stockholders’ equity of more than $500 million. This important milestone prompted the Board of Directors to form a special committee of independent and disinterested directors to evaluate a potential internalization transaction.”

Mr. Busch continued, “We are excited about our prospects as we look ahead. Our pipeline remains large and active and despite an increasingly competitive acquisition environment, we are confident in our ability to further grow our platform. We are proud of our accomplishments in 2019 and are enthusiastic for what lies ahead.”

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