Global Medical REIT Inc ( (GMRE) ) has released its Q4 earnings. Here is a breakdown of the information Global Medical REIT Inc presented to its investors.
Global Medical REIT Inc., a net-lease medical real estate investment trust, specializes in acquiring healthcare facilities and leasing them to physician groups and healthcare systems. In its latest earnings report, the company highlighted significant acquisitions and strategic partnerships, including the purchase of a 15-property portfolio for $80.3 million and a joint venture with Heitman. The fourth quarter of 2024 saw a net income of $1.4 million, a turnaround from a net loss in the previous year, while annual rental revenue increased by 6.1% to $35 million. The company also reported a decrease in Funds from Operations (FFO) to $11.1 million due to severance costs, but maintained a stable Adjusted Funds from Operations (AFFO) of $15.8 million. Looking ahead, Global Medical REIT has introduced its 2025 AFFO guidance, reflecting cautious optimism despite challenges, with a focus on maintaining its disciplined acquisition strategy and leveraging its joint venture to explore growth opportunities.